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MediWound Ltd. (Nasdaq: MDWD) is an integrated biopharmaceutical company focused on developing, manufacturing, and commercializing novel therapeutic products. The company's mission is to address unmet medical needs in the fields of severe burns, chronic and other hard-to-heal wounds, connective tissue disorders, and other medical conditions. MediWound leverages its patented proteolytic enzyme technology to create innovative and effective treatments.
NexoBrid®, MediWound's flagship product, has received marketing authorization from multiple health agencies, including the European Medicines Agency, as well as health ministries in Israel and Argentina. This innovative biopharmaceutical product is designed for the non-surgical removal of dead or damaged tissue, known as eschar, in adults with deep partial and full-thickness thermal burns. Clinical trials have demonstrated NexoBrid's capability to rapidly and effectively debride eschar without harming viable tissue.
MediWound's pipeline includes several promising products. EscharEx®, another key product, is a topical biological drug being developed for debridement of chronic wounds. This product has shown significant potential in clinical trials, suggesting it can outperform traditional enzymatic debridement methods and improve patient outcomes. Additionally, MW005 is under development for the treatment of non-melanoma skin cancers, offering a new hope for patients with basal cell carcinoma.
The company has established valuable partnerships and research collaborations with industry leaders such as 3M, Mölnlycke, and MIMEDX. These collaborations aim to further validate and enhance MediWound's product pipeline. Recent achievements include substantial governmental grants, expanded indications for NexoBrid, and successful market entries in new regions.
Financially, MediWound is on solid ground. As of December 31, 2023, the company reported a cash, restricted cash, and investments balance of $42.1 million, compared to $34.1 million at the end of 2022. In the first quarter of 2023, MediWound raised $27.5 million through a registered direct offering, using $17.1 million to support its activities. The company expects its existing financial resources to be sufficient to reach profitability.
MediWound's commitment to improving patient care through innovative enzymatic therapeutics positions it as a significant player in the biopharmaceutical industry. With a strong pipeline and robust financial health, the company aims to continue delivering life-saving treatments and expanding its market presence.
For more information, visit www.mediwound.com and follow the company on LinkedIn and X.
MediWound Ltd. (Nasdaq: MDWD) announced that it will present updated clinical data from its EscharEx® Phase 2 trials at the 2023 Symposium on Advanced Wound Care (SAWC) Spring in National Harbor, Maryland, from April 26-30, 2023. Key opinion leaders will discuss current wound debridement practices and findings from the clinical studies during oral presentations on April 29, 2023. Two posters will present safety and efficacy results, showcasing EscharEx as a promising enzymatic solution for chronic wounds. CEO Ofer Gonen expressed confidence in EscharEx's potential as a leading treatment in the wound care market given its positive outcomes. The emphasis on EscharEx aligns with MediWound's commitment to advancing enzymatic solutions for tissue repair, with a Phase III study expected to commence in Q4 2023, highlighting its competitive advantages in the market.
MediWound Ltd. (NASDAQ: MDWD) reported total revenues of $26.5 million for 2022, a growth from $23.8 million in 2021, despite a 44% decrease in product revenue due to reduced BARDA procurement. The FDA approved NexoBrid in December 2022, leading to a $7.5 million milestone payment from Vericel. Operating loss improved to $8.3 million, down from $11.2 million in 2021. Cash position reached $66 million, supporting operations through 2026. EscharEx is set to enter Phase III trials in 2023, while launches in Japan and India are anticipated mid-2023.
MediWound Ltd. (Nasdaq: MDWD) has appointed Ms. Hani Luxenburg as Chief Financial Officer, effective May 14, 2023, succeeding Mr. Boaz Gur-Lavie, who will assist in the transition until July 31, 2023. Ms. Luxenburg brings over 20 years of experience in financial leadership, previously serving as CFO at BIRD Aerosystems and holding senior roles at AstraZeneca and Ernst & Young. She aims to support the U.S. launch of NexoBrid and oversee ongoing product development. CEO Ofer Gonen commended Gur-Lavie's contributions while expressing optimism for MediWound's growth under Ms. Luxenburg’s leadership.
MediWound Ltd. (NASDAQ: MDWD) has appointed Barry Wolfenson as Executive Vice President of Strategy and Corporate Development and Alicia Torrenova as Vice President of European Operations. Wolfenson brings over 20 years of leadership in wound care and regenerative medicine, previously co-founding vTail Healthcare Telecommunications and serving as a strategic advisor to Origin, Inc. Torrenova has managed operations across Spain, Portugal, and LATAM, significantly impacting product introductions for LifeCell. Both executives are expected to drive growth and innovation in MediWound's biotherapeutic solutions, including NexoBrid and EscharEx, enhancing the company’s competitive positioning.
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