Vericel Corp

What Vericel Corp does

Vericel Corporation is a commercial-stage biotechnology company headquartered in Burlington, Massachusetts that develops, manufactures, and markets autologous cell therapies for the U.S. sports medicine and severe burn care markets. Its commercial portfolio consists of three core products: MACI (autologous cultured chondrocytes on a porcine collagen membrane) for repair of symptomatic full-thickness knee cartilage defects, including the MACI Arthro arthroscopic delivery variant; Epicel (cultured epidermal autografts) for permanent skin replacement in severe burns covering ≥30% of total body surface area; and NexoBrid (anacaulase-bcdb), a proteolytic enzyme product for enzymatic eschar removal in thermal burns, for which Vericel holds exclusive North American commercial rights under license from MediWound. The underlying platform relies on proprietary autologous cell expansion and tissue engineering processes performed in GMP-certified facilities, with a new Burlington manufacturing facility approved by FDA in March 2026 to support scaled production.

The company monetizes its products primarily through specialty pharmaceutical commercial sales to orthopedic surgeons (MACI) and burn care specialists (Epicel, NexoBrid), reimbursed through Medicare, Medicaid, and private insurance, alongside a ten-year BARDA procurement contract valued at up to $197 million for NexoBrid supply to the U.S. Strategic National Stockpile. Vericel employs an enterprise field sales model that it is actively expanding through 2025-2026 to support domestic growth and a planned 2027 international launch starting in the United Kingdom. The company is publicly traded on NASDAQ under VCEL and ended 2025 with approximately $276 million in revenue, $200 million in cash, no debt, and consecutive years of GAAP profitability, with 2026 revenue guided to $326-336 million.

Name

Vericel Corp

Legal name

Vericel Corporation

Website

https://vcel.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

Vericel Corporation is a commercial-stage biotech that manufactures and markets autologous cell therapies — MACI for knee cartilage repair, Epicel for severe burns, and NexoBrid for eschar removal — sold to orthopedic surgeons and burn care specialists in the United States.

Ownership category

akta.pro rank

Product category

Cell Therapy Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Cartilage, Bone & Musculoskeletal Regeneration (HLAAAGAH)

akta.pro secondary industries

Wound Healing & Skin Regeneration (advanced dressings, skin substitutes) (HLAAAGAG), Skin Substitutes & Biologic/Regenerative Wound Therapies (Matrices, Grafts) (HLAHALAE)

Keywords

• Autologous cell therapy
• Cartilage repair products
• Burn care treatments
• Regenerative medicine
• Biological skin grafts

Headquarters

HQ city

Ann Arbor

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. MACI Product Sales: Revenue from MACI cartilage repair product sales. MACI revenue was $56.4 million in Q1 2026 (22% growth) and $239.5 million in 2025 full year. Primary revenue driver representing approximately 87% of total revenue.
2. Burn Care Products (Epicel + NexoBrid): Revenue from Epicel skin grafts and NexoBrid eschar removal product. Burn Care revenue was $12.0 million in Q1 2026 (91% growth) and $36.5 million in 2025 full year.
3. BARDA Government Contract: Ten-year BARDA contract valued at up to $197 million for procurement of NexoBrid for U.S. Strategic National Stockpile, vendor managed inventory setup, and development of next-generation formulations including blast trauma indication and room temperature stable formulation. Base period includes approximately $10 million over first 12 months.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Vericel manufactures and markets advanced autologous cell therapy products for two specialty markets: sports medicine (MACI, autologous cultured chondrocytes on a porcine collagen membrane, plus the MACI Arthro arthroscopic delivery system for repair of symptomatic full-thickness knee cartilage defects up to 4 cm²) and severe burn care (Epicel, cultured epidermal autografts for permanent skin replacement in patients with deep dermal or full-thickness burns covering ≥30% of total body surface area, and NexoBrid, an FDA-approved botanical proteolytic enzyme product for enzymatic eschar removal in adult and pediatric thermal burn patients, held under exclusive North American commercial rights).

Product overview

Vericel Corporation is a biotechnology company that manufactures and markets advanced cell therapy products for sports medicine and severe burn care. The company's product portfolio consists of three core marketed products: MACI (autologous cultured chondrocytes on porcine collagen membrane) for cartilage repair in the knee, with its MACI Arthro sub-product enabling less invasive arthroscopic delivery; Epicel (cultured epidermal autograft) for permanent skin replacement in severe burn patients; and NexoBrid (anacaulase-bcdb) for eschar removal in thermal burns. Vericel also holds rights to the legacy product Carticel. The products leverage autologous cell therapy technology, growing patients' own cells to create personalized treatments.

Differentiator

Problem solved

Functional benefit

Brands

• MACI: Autologous cultured chondrocytes on porcine collagen membrane for repair of symptomatic, full-thickness cartilage defects of the knee in adult patients.
• Epicel
• NexoBrid

Products and services

• MACI MACI (autologous cultured chondrocytes on porcine collagen membrane) is an FDA-approved autologous cellularized scaffold product for the repair of symptomatic, full-thickness cartilage defects of the knee in adult patients. It is the first FDA-approved product that applies tissue engineering to grow cells on scaffolds using healthy cartilage tissue from the patient's own knee, marketed to orthopedic surgeons and sports medicine specialists.
• MACI Arthro MACI Arthro is an FDA-approved arthroscopic delivery system for MACI using custom-designed instrumentation, enabling repair of knee cartilage defects up to 4 cm² through small incisions and reducing surgical trauma and patient recovery time versus traditional open surgery.
• Epicel Epicel (cultured epidermal autograft, CEA) is a permanent skin graft grown from a patient's own skin cells, indicated for deep dermal or full-thickness burns comprising greater than or equal to 30% of total body surface area. From two postage stamp-sized biopsies, Vericel can grow enough skin to cover the patient's entire body, marketed to burn centers and burn surgeons.
• NexoBrid NexoBrid (anacaulase-bcdb) is a botanical drug product containing proteolytic enzymes indicated for eschar removal in adults and pediatric patients with deep partial-thickness and/or full-thickness thermal burns. Vericel holds exclusive North American commercial rights, providing rapid enzymatic debridement in approximately four hours while selectively preserving viable tissue, marketed to burn centers and burn surgeons.
• Carticel Carticel was the first autologous cell therapy for treatment of cartilage lesions in the knee, originally commercialized in Europe by Genzyme Tissue Repair. Vericel acquired global rights in 2014 and the product is referenced as a legacy offering in the company's current portfolio.

Quantifiable outcome

• MACI revenue growth of 22% to $56.4 million in Q1 2026
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• MediWound Ltd.coreChannel Partner/ Reseller/ Distributor · 3 April 2026Vericel holds exclusive North American commercial rights to NexoBrid, a biological orphan product approved for eschar removal of severe thermal burns. MediWound announced Vericel was awarded a ten-year BARDA contract valued at up to $197 million for procurement and development of NexoBrid. The contract includes initial procurement for U.S. Strategic National Stockpile, development of next-generation formulations, and potential blast trauma indication.

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Integra LifeSciences: Specialty surgical and regenerative medicine company with skin regeneration (Integra Dermal Regeneration Template) and wound care products overlapping with Vericel's Epicel franchise. Comparable in burn and skin substitute end markets.
• Conmed Corporation: Medical device company with sports medicine and orthopedic product lines, including biologic and regenerative offerings (e.g., via Biorez). Comparable in targeting orthopedic surgeons for cartilage and soft tissue procedures, with overlapping channel motion.
• Smith & Nephew: Global medical device company with a sports medicine and orthobiologics franchise (including cartilage repair and regenerative products) targeting the same orthopedic surgeons who use MACI. Comparable on customer base and channel, though Vericel is more concentrated in autologous cell therapy.
• Stryker: Large diversified orthopedic and medical device company with sports medicine, orthobiologics, and regenerative offerings. Comparable due to shared orthopedic surgeon customer base and procedural overlap in cartilage-related sports medicine procedures.

Direct peers

• MiMedx Group: Regenerative medicine company marketing placental tissue allografts (e.g., EpiFix) for wound care and surgical applications. Comparable in product category (regenerative/biologic skin and wound care) and commercial motion targeting wound care specialists and surgeons.
• Organogenesis Holdings: Commercial-stage regenerative medicine company focused on skin and wound healing products (e.g., Apligraf, Dermagraft) for advanced wound care. Closely comparable to Vericel's Epicel franchise in product type (skin substitutes) and end markets (severe/chronic wounds, burn care).
• MediWound Ltd. Developer and manufacturer of NexoBrid; Vericel's licensor and channel partner for the burn care franchise. Most directly comparable to Vericel's burn care business line, with overlapping technology (enzymatic eschar removal) and shared BARDA/government channel.
• Dendreon Pharmaceuticals: Commercial-stage autologous cell therapy company (Provenge for prostate cancer). Comparable as a fellow commercial-stage autologous cell therapy manufacturer with similar manufacturing complexity, reimbursement dynamics, and direct-to-specialist sales model.

Emerging players

• Mesoblast: Cell therapy company developing allogeneic cellular medicines for inflammatory and musculoskeletal conditions, including cartilage indications. Comparable in cell-therapy platform approach and orthopedic/regenerative targets, though still largely pre-commercial.
• Anika Therapeutics: Specialty orthobiologics and regenerative medicine company with cartilage repair (e.g., hyaluronic acid viscosupplements) and emerging regenerative pipeline. Comparable in targeting sports medicine / orthopedic indications, though concentrated in HA-based rather than cell-based therapies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vericel-corporation
• Xx.com/astm4f8f1f2870
• Facebookfacebook.com/AastromBiosciences

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vericel Corp