A suture system for closing a wound defined by tissue portions includes an elongate suture having a pair of ends adapted for threading relative to the tissue portions leaving the suture ends free. A securing mechanism has a first position for capturing the suture ends and a second position for permanently holding the suture ends in a fixed relationship, with the suture tensioned to maintain the tissue portions in close proximity. In a third position, the securing mechanism frictionally engages the suture ends in a sliding relationship. In an associated method, continuous tension is placed on the suture ends during operation of the securing mechanism.