Vericel Corp (Vericel) is a biopharmaceutical company that focuses on the development, manufacturing, and marketing of advanced cell therapy products. The company primarily serves the sports medicine and severe burn care industries in the US. Vericel's key activities include the production of autologous cell therapies and specialty biologics, with a focus on treating cartilage defects and severe burns. The company also engages in partnerships and licensing agreements to expand its product offerings and leverage its cell therapy development capabilities. It sells products to sports medicine, orthopedic surgeons, and specialized burn centers through cell therapy specialists in the US. Vericel operates a cell manufacturing facility in Cambridge, Massachusetts, the US, for the production and distribution of MACI and Epicel in the US. The manufacturing process for NexoBrid is conducted by MediWound in Israel, with certain raw materials sourced from

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Vericel's research and development initiatives have historically focused on improving methods for efficiently manufacturing high-quality cell therapy products. In 2025, the company initiated the MASCOT trial, a two-year prospective, multicenter, two-arm, parallel group open-label trial, to evaluate MACI for the treatment of Osteochondral Lesions of the Talus. The company's R&D activities are now more balanced between manufacturing method development and clinical activities for the MASCOT trial. The company is also working on the commercialization of new products, including the recent launch of MACI Arthro and the development of MACI Ankle, for which a clinical trial was initiated in the fourth quarter of 2025. The R&D unit of Vericel is responsible for the development of new products, improvement of existing products, technical support of products, and compliance with governmental regulations for consumer and patient protection. In FY2025, the company spent US$27.5 million on its R&D activities, which as a percentage of revenue stood at 9.9% and grew 11.1% YoY.