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Medical fish skin pioneer aims to speed mastectomy recovery

Fish skin could be used to improve post-mastectomy breast reconstruction procedures

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Fertram Sigurjonsson, founder and CEO of Kerecis

Iceland’s first billion-dollar ‘unicorn’ – which harnesses fish skin to treat wounds and burns – is now aiming to help women recovering from mastectomies.

Kerecis has disrupted the global market for wound, burn and trauma treatment in the last decade, thanks to a biproduct of one of Iceland’s biggest exports.

It utilises North-Atlantic cod skins to create a natural graft material that enables cellular therapy, tissue regeneration and protection.

Last year it became Iceland’s first unicorn after the Danish healthcare products multinational Coloplast acquired it for US$1.3bn.

To date its focus has been limited to chronic, acute and surgical wounds, burns and trauma. This is supported by growing body of clinical evidence for faster wound healing via its products.

But speaking to Femtech World in Reykjavik, CEO and founder Fertram Sigurjonsson reveals that the company’s research and development team is now working on applying fish skin to improve post-mastectomy breast reconstruction procedures.

“We have three avenues for growth,” he says. “The first is geographical expansion, and we will do that through the [parent] company. The second is to expand within the business we are already in, which is chronic wounds, burns and surgical wounds; so more features and products.

“The third avenue for expansion is new indications, including breast reconstruction.

“When women lose breasts after a mastectomy for cancer, there is a pocket that is put into the chest, stapled into the muscles. You can then put a silicone implant into the pocket. The silicone implant is heavy and so there is a sling that keeps the breast elevated normally. This sling is made of plastic. This means the woman has two foreign bodies, plastic and silicone.

“We are developing the use of fish skin as a sling that will keep the breast elevated over half a year to a year. This skin will eventually be replaced by the woman’s own tissues when they are strong enough to keep the breast elevated.”

Sigurjonsson says being part of a publicly listed company prevents him from sharing when the innovation may be available to women undergoing mastectomies; he also admits that a long road awaits in terms of building evidence and clinical data needed to reach that goal.

With Kerecis spending 10 to 15 per cent of revenue on research and development, including via investigations into hernia and ligament repair solutions, it is clearly committed to broadening the reach of medical fish skin to help more patients globally.

Sigurjonsson says: “We need new research, new trials and new regulatory submissions. Of course, now we are part of a bigger company and we have more money, this becomes more realistic.”

Bringing new medical applications to the fore is a notoriously cost-intensive, long-haul journey that requires patience among investors and shareholders; and an abundance of research funding.

Given the bright business outlook for Kerecis, however, the company seems to have these fundamentals in place as it looks to realise its mastectomy hypothesis and other new applications.

“I’ve raised money from shareholders four times and [each time] I was able to provide them a very good return on their investment,” says Sigurjonsson.

“We have very good market access in the United States, with 600 employees [there] and we are by far the fastest growing wound care company in the US.

“We are continuing to operate the Swiss unit and we are treating thousands of people every day with our products

“Coloplast has operations in 140 countries. I have the ability to work with them and over the next decade, make my invention from my hometown a global product around the world.”

Kerecis was conceived after a journey of discovery for Sigurjonsson as he sought a new and improved approach to wound care.

“I was an employee in several medtech companies and then came back to Iceland and had an opportunity to found Kerecis.

“I’m a specialist in wounds and wound treatment. Wounds are a huge global problem. People get diabetes, then lose the sensation their legs. They get a small wound and sometimes the wounds get bigger and bigger because of bad blood circulation in diabetics. Half a million people [every year] will have an amputation [in their lower extremities because of this].

“There are three generations of wound treatment products. Firstly gauzes, which keep the wound very dry. This is not very good for cells because they need to proliferate and need moisture and humidity. The second generation, emerging in the 50s, was moist wound dressings. Then in the first decade of this century, the third generation emerged, which is biologic material from animals or humans.”

The origins of such products developed to date include pigs and human foetal sacs.

Through fish, Sigurjonsson took this product class into entirely new territory.

“I came back here looking for a new project that inspired me, with a material that Iceland has a lot of. Of course we have fish all around the country, we have small fishing towns everywhere and there is a lot of fish export.

“I started to think about using scales from the fish, but then when I was studying more about the anatomy of fish skin, I found out that it is identical to human skin. You might think that human skin is very different from fish. We used to be fish two million years ago, but actually evolution has focused on the brain, the fingers and the feet. The epidermis, dermis, subcutaneous tissue are identical, except we have developed hairs out of scales.”

Furthermore, because there is no known risk of viral disease transmission, fish skin needs only minimal processing by Kerecis, preserving its structure and components.

“When I discovered these things, the first person I talked to about it, apart from my wife, was a patent attorney.”

Today, the Kerecis product journey starts with fish caught in the North Atlantic, off the township of Isafjordur, on Iceland’s northwest coast. Skins that would otherwise have been thrown away are sent to the company’s processing plant in the same town – where products are made for the rest of Europe, the US and other jurisdictions.

The continued presence of Kerecis in its homeland has helped to draw attention to the country’s growing prowess in health innovation. Sigurjonsson believes its emergence as the country’s first unicorn has also helped to change the mindset of investors.

“Iceland does not have a very developed investor community. Most investments in the past have been in real estate and traditional businesses. Companies on the Icelandic stock exchange have their values based on multiples of EBITDA [earnings before interest, taxes, depreciation, and amortisation].

“There has not been a big history of venture investments in Iceland. But, because people can see others making money now, there is now substantially more investment interest in start-ups.”

Femtech World was speaking to Kerecis CEO and founder Fertram Sigurjonsson at an event organised by Business Iceland on behalf of Reykjavik Science City.

Fertility

Vipoglanstat trial reaches recruitment halfway point

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Vipoglanstat has reached the halfway point for patient recruitment in a phase 2 endometriosis trial.

Gesynta Pharma said 50 per cent of the target of 190 patients have been randomised in the NOVA trial.

The study is evaluating vipoglanstat, described by the company as a novel, non-hormonal, non-opioid drug candidate for the treatment of endometriosis.

Endometriosis is a chronic inflammatory condition where tissue similar to the lining of the womb grows outside the uterus, often causing severe pain and, in some cases, infertility.

The condition affects more than 10 per cent of women of reproductive age.

Top-line results from the study are expected in 2027.

The NOVA trial is a randomised, double-blind, placebo-controlled phase 2 proof-of-concept study evaluating vipoglanstat in women with endometriosis across Europe.

This means patients are assigned to treatment groups by chance, neither participants nor researchers know who receives the drug or placebo during the study, and the results are intended to show whether the treatment has enough evidence to move into later testing.

The trial is assessing the efficacy and safety of two dose levels of vipoglanstat and will provide information for the design of a subsequent phase 3 programme.

Eva Johnsson, chief medical officer and vice president of clinical development at Gesynta Pharma, said:

“Reaching the halfway point in patient recruitment marks a major milestone for our Phase 2 clinical trial in endometriosis. Achieved well ahead of schedule, the rapid progress reflects strong participation from clinical sites and great interest among eligible participants. This momentum highlights the urgent need for better treatments.

“We are now eager to complete enrolment and proceed to the next phase of evaluation.”

Patric Stenberg, chief executive of Gesynta Pharma, said:

“The NOVA trial is a significant advancement in a field with few ongoing clinical trials, and a key step toward establishing a strong foundation for a future Phase 3 programme for vipoglanstat.

“Given the immense medical need, our focus remains on delivering a treatment that is highly effective, safe, and well-tolerated.”

Vipoglanstat is an orally active drug candidate designed to reduce pain and inflammation by targeting mPGES-1, an enzyme that produces prostaglandin E2, a substance linked to inflammation in endometriotic lesions.

A preclinical proof-of-concept study in an advanced endometriosis model found that vipoglanstat significantly reduced pain-related behaviours and endometriotic lesion burden.

Gesynta said previous clinical studies have supported the drug candidate’s safety, tolerability and pharmacodynamic effects in humans. Pharmacodynamic effects refer to how a drug acts in the body.

NOVA stands for the Non-hormonal Option, a Vipoglanstat Assessment trial.

Endometriosis commonly presents with severe period pain, known as dysmenorrhoea, pain between periods, pain during sexual intercourse, gastrointestinal symptoms and infertility.

Current management is typically limited to painkillers, hormonal therapies and surgery.

Despite its prevalence, Gesynta said endometriosis remains a critically underserved area of women’s health.

The company said the disease is significantly underdiagnosed and undertreated, with few new treatment options available to patients.

Approximately 190 patients aged 18 to 45 will receive vipoglanstat or placebo over four menstrual cycles.

The primary objective is to evaluate the effect of vipoglanstat on endometriosis-related pain during non-menstrual days.

Secondary objectives include assessing the effect on menstrual pain, known as dysmenorrhoea, pain during sexual intercourse, known as dyspareunia, use of opioid rescue medication and quality-of-life measures.

Changes in endometriotic lesions, areas of tissue linked to the condition, will also be explored using MRI scans.

Gesynta Pharma said its research on targeting mPGES-1 began at Karolinska Institutet in Sweden.

The company said a second drug candidate, GS-073, is ready to enter clinical phase 1 for the treatment of chronic inflammatory pain.

Gesynta Pharma’s shareholders include Hadean Ventures, Industrifonden, Innovestor Life Science, Linc, HealthCap, XGen Venture and other specialist investors.

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Femtech World Awards 2026: Celebrating initiatives that move women’s health forward

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By Wolfgang Hackl, CEO, OncoGenomX Inc., Allschwil, Switzerland

As the FemTech World Awards 2026 winners are revealed, it is a privilege to reflect on the Research Award 2026 sponsored by OncoGenomX Inc., and on the exceptional standard set by this year’s finalists.

On behalf of OncoGenomX Inc., sincere thanks to every applicant and congratulations go to the nominees whose work continues to push women’s health innovation forward.

Research Awards matter because they do more than recognize excellence in a single moment; they help elevate the science, courage, and systems thinking needed to transform women’s health at scale.

This year’s three finalists represented three different but equally important forms of progress. Natural Cycles brought forward one of the largest studies ever conducted on menstrual and ovulatory patterns in perimenopause, analysing nearly one million cycles from more than 197,000 women across over 140 countries.

That project stood out for both its dataset scale and its ability to translate new evidence into a regulated product designed to support women navigating a historically under-researched life stage.

IVI RMA stood out for scientific rigor and clinical precision. Its multicenter, double-blinded, non-selection study on non-mosaic segmental aneuploid embryos offered high-quality evidence on implantation and live birth outcomes, helping move fertility care away from assumption and toward a more evidence-based approach to embryo management and patient counseling.

UN ESCAP’s ‘Femtech in South-East Asia: Unlocking innovation for women’s health’ stood out for a different reason.

Rather than focusing on one product area or one clinical question, it mapped an entire emerging ecosystem.

The report examined the state of femtech across key South-East Asian markets, documented barriers such as financing gaps, stigma, weak ecosystem support, and data challenges, and then translated that research into practical recommendations for governments, investors, founders, and ecosystem builders.

In many ways, all three finalists are winners.

Each project excelled on core evaluation criteria including originality, relevance, coherence, effectiveness, efficiency, impact, and sustainability.

Each also offered something genuinely valuable to the future of women’s health: stronger evidence, clearer decision-making, more informed product development, and greater visibility for unmet needs that have gone too long without sufficient attention.

The final decision was therefore a genuine head-to-head race.

The jury supported its discussion with a numerical scoring approach, but it also looked carefully at systems impact: the extent to which a project not only advances one intervention, but improves the wider conditions under which innovation can emerge, scale, and endure.

That perspective mattered in this category, because the strongest research is not always only the most technically impressive; sometimes it is the research that opens doors for many future innovations to follow.

On that basis, the OncoGenomX Jury selected UN ESCAP as the winner of the Research Award.

The decisive factor was not simply that the report was comprehensive, though it was.

It was that the project helps change the environment around innovation itself.

It provides a practical roadmap for strengthening research, improving data governance, expanding founder support, addressing gender bias in investment, scaling innovative finance, and integrating women’s health more fully into policy and development agendas.

That broader enabling effect is what distinguished the UN ESCAP project. Natural Cycles demonstrated outstanding research translation, and IVI RMA demonstrated exceptional clinical rigor.

UN ESCAP, however, showed how research can influence the structures that determine whether many other femtech solutions will ever be funded, adopted, trusted, and scaled. In that sense, its impact reaches beyond one company, one product, or one clinical pathway, and toward a healthier innovation landscape overall.

Warm congratulations again to all finalists and nominees.

And special congratulations to UN ESCAP on receiving the OncoGenomX Research Award at the Femtech World Awards 2026.

The jury’s decision reflects deep respect for all three projects and a shared belief that women’s health advances fastest when excellent science is paired with the power to reshape the systems around it.

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WEC Chair calls out Health Minister’s delay on banning BBLs and other harmful cosmetic procedures

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WEC chair Sarah Owen has criticised delays over a ban on high harm cosmetic procedures, including liquid BBLs.

The Women and Equalities Committee has published a letter from health minister Karin Smyth after the government missed the 18 April deadline to respond to the committee’s report on cosmetic procedures.

The report, published on 18 February, recommended that high harm procedures such as liquid Brazilian butt lifts, known as BBLs, should be banned immediately without further consultation.

MPs said the government is “not moving quickly enough” in introducing a licensing system for non-surgical cosmetic procedures and “should accelerate regulatory action”.

They also warned that “this lack of timely action is fostering complacency in self-regulation” within the industry.

In her letter, Smyth said the Department of Health and Social Care had “taken the decision to first of all focus on introducing legal safeguards for the cosmetic procedures posing the highest risks and I can confirm that we plan to consult on draft regulations in June”.

The letter added:

“Our intention is to issue a formal government response to the WEC report, once our consultation setting out our proposed approach and underpinning legislation is published.

“I acknowledge the concerns around the government’s pace of delivery in this area but, as you will appreciate, this is a complex area of policy and striking the balance between increased patient safety, placing new requirements on businesses and introducing proportionate and enforceable regulation is challenging.

“I recognise that regulation has not kept pace with the expansion of the aesthetics industry and, on that basis, I can assure you that we are committed to implementing licensing in the current parliament.”

Owen, chair of the Women and Equalities Committee and Labour MP, said:

“Further consultation and delay on clamping down on high harm procedures such as liquid BBLs is unacceptable. It allows unscrupulous people to continue to put women at risk and lets down those who have lost loved ones following these practices or who have come to serious harm themselves.

“As WEC’s report warned back in February, procedures that are deemed high risk such as liquid BBLs and liquid breast augmentations, which have already been shown to pose a serious threat to patient safety, should be banned immediately.

“While it is positive to hear a licensing system for non-surgical cosmetic procedures will be introduced within this Parliament, this issue requires faster regulatory progress, particularly in high harm areas, and the Government is not moving quickly enough.

“The Committee previously heard a powerful and shocking testimony from a woman who developed sepsis after having a liquid BBL. Her experience and those of many others provides clear evidence of the need to tackle this evolving wild west.”

A liquid BBL is a non-surgical procedure intended to alter the shape of the buttocks.

Sepsis is a potentially life-threatening response to infection that can lead to organ damage if not treated quickly.

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