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MediWound Announces $25 Million Partnership with Mölnlycke Health Care

Jul 15, 2024•almost 2 years ago

Contract Type

partnership

IsraelBiotechnologyHealthcareHealth CareTherapeutics

Description

MediWound announced a strategic private placement financing of $25 million through a definitive share purchase agreement with new and existing investors, including Mölnlycke Health Care. The investment will be used to advance EscharEx pre-commercial activities, expedite the development of large-scale manufacturing capabilities specifically for EscharEx, and support general corporate purposes.

Company Information

Company

MediWound Ltd

Location

42 HAYARKON STREET

Israel

About

MediWound Ltd. (Nasdaq: MDWD) is the global leader in next-generation enzymatic therapeutics focused on non-surgical tissue repair. Specializing in the development, production and commercialization of solutions that seek to replace existing standards of care, the Company is committed to providing rapid and effective biologics that improve patient experiences and outcomes, while reducing costs and unnecessary surgeries. MediWound’s first drug, NexoBrid®, is an FDA-approved orphan biologic for eschar removal in severe burns that can replace surgical interventions and minimize associated costs and complications. Utilizing the same core biotherapeutic enzymatic platform technology, MediWound has developed a strong R&D pipeline including the Company’s lead drug under development, EscharEx®. EscharEx is a Phase III-ready biologic for debridement of chronic wounds with significant advantages over the $300 million monopoly legacy drug and an opportunity to expand the market. MediWound’s pipeline also includes MW005, a topical therapeutic for the treatment of basal cell carcinoma that has demonstrated positive results in a recently completed Phase I/II study. For more information visit www.mediwound.com

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Strategic partnership established
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