History, Founder & Founding Team Members

Our History, Founder and Founding Team Members

The Kerecis story began in 2007, when the company founder Fertram Sigurjonsson began entrepreneurial projects in the medical devices field. During his career in several medical device companies, Fertram had built a deep understanding of the industry’s value chain and developed interest in diabetic wounds and human-tissue trauma.

Building on his experience, ranging from software solutions at his startup in Denmark, to the development and commercialization of medical devices for human tissue repair as an employee within two medical device companies, coupled with his youth experience in the fishing village of Isafjordur, Fertram came up with the concept of using fish skin to heal damaged tissue.

Fertram’s bachelor’s degree was in chemistry from the University of Iceland. His master’s of Engineering degree, was from the Technical University of Denmark.

Kerecis Founder, Fertram Sigurjonsson

Over the initial years of Kerecis, Fertram sought support from former colleagues he had worked with during his career. The colleagues included medical doctors Baldur Tumi Baldursson and Hilmar Kjartansson, U.S. patent attorney Ernest Kenney and lawyer Baldvin Bjorn Haraldsson. Fertram’s father, Sigurjon N. Olafsson, Associate Professor of Chemistry at the University of Iceland and Fertram’s wife Fanney, a biotech engineer with background in pharmaceutical regulatory affairs, were also involved.

In August 2023 Kerecis became Iceland’s first Unicorn when it sold to the Danish company Coloplast for $1.3 Billion.

Kerecis Founding Team Members

Baldur T. Baldursson, MD, PhD

Hilmar Kjartansson, MD

Baldvin B. Haraldsson

J. Ernest Kenney

Dr. Sigurjon N. Olafsson

Fanney Kr. Hermannsdottir

Milestones

2007 Fertram returns to Iceland and begins entrepreneurial projects in the medical devices field.
In 2009, the name of FnF was changed to Kerecis.
January 2009, Proof-of-Concept grant received from Iceland’s Technology Development Fund. First prototypes created with the help of Matis laboratories.
June 2009, full grant received from Iceland’s Technology Development Fund
September 2009, laboratory established in Isafjordur, Iceland and first employee, chemical engineer Dora Hlin, hired. Technology development program accelerated.
January 2010, Seed investment round closed with the government owned New Business Venture Fund. Baldursson, Kjartansson, Kenney, Olafsson and Haraldsson also became shareholders.
February 2010, office opened in Reykjavik, Iceland and employees hired.
Early 2011 Series A investment round closed with milestone payments related to advancement of technology development program
2011 disaster struck when the FDA rejected Kerecis’ initial regulatory application and asks for more clinical data. Milestone payment delayed from investor and office moved to Fertram’s living room.
August 2013 Kerecis appoints Scientific Advisory Board with world-leading scientists.
2014 clinical trials complete, new submission made to FDA and approval received. A investment rounds complete and Fertram leaves consulting projects to focus exclusively on running Kerecis.
2014 Fertram participated in the Northern Future Forum and meets with heads of government discussing entrepreneurship and education.
2015 Kerecis receives grant from US DoD to adapt products for burn and blast-injury
2015 Kerecis completes Series B round, establishes US office and hires Chris Harte to establish operations
2016 Kerecis steps up operations in the US and transfers Sales & Marketing head office to US office Washington DC area office. First year of US sales complete with $1 million.
2018 Klara Sveinsdottir joins Kerecis to head the company’s business development function.
2019 A second randomized double-blind study on the Kerecis technology completes and is published
2019 Growth accelerates in the US and Steve DiBiasio joins company to lead sales growth
2019 Operations of the Switzerland-based company Phytoceuticals AG (now Kerecis AG) acquired giving Kerecis control of its plant-based, fatty-acid tissue technology
2020 Kerecis closes Series C round with $21 million in total funding. Laurene Powell Jobs among investors. Mike Cadigan helps close round as financial advisor and later joins company as CFO.
2021 Third randomized controlled study completes and is published.
2021 Fertram named a EY Entrepreneur Of The Year.
2022 Number of staff exceed 300. Gudmundur Oskarsson joins company to leads its product management and marketing.
2022 July Kerecis completes Series D round with $100 million in total funding. Lego brand owner KIRKBI leads the investment round. Company states no further investment rounds needed to fund day-to-day business.
2022 Kerecis ends year with $85 million in revenue and with profitable operations.
2023 Dan Mooradian joins Kerecis for research & development leadership. Laboratory and distribution centers established in Minneapolis, MN.
2023 Kerecis acquired by Coloplast A/S for 1.3 billion USD.

History, Founder & Founding Team Members

Our History, Founder and Founding Team Members

Kerecis Founding Team Members

Milestones

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