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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 its EscharEx® phase 2 clinical study results were featured at the SAWC Spring Conference. The poster highlighting the pharmacology study was among ten selected from 235 presented. The data indicated EscharEx effectively debrided wounds and reduced biofilm while being safe for patients with diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs). CEO Sharon Malka expressed optimism about EscharEx's potential in the over billion-dollar wound care market, emphasizing the urgent need for new debridement solutions.
MediWound Ltd. (Nasdaq: MDWD) announced the presentation of its EscharEx® clinical data at the 35th SAWC Spring Conference in April 2022. The oral presentation will cover results from clinical studies on the safety and efficacy of EscharEx for the debridement of hard-to-heal wounds, including venous leg ulcers and diabetic foot ulcers. The data showed that EscharEx was well-tolerated and effectively reduced biofilm and bacterial loads. The ongoing Phase 2 study aims to evaluate its clinical performance, positioning EscharEx as a potential non-surgical treatment for chronic wounds.
MediWound Ltd. (Nasdaq: MDWD) announced the partial exercise of an over-allotment option from its recent public offering, closing on March 22, 2022. The underwriter purchased an additional 623,082 ordinary shares, raising approximately $1.2 million. This brings the total funds raised in the offering to $11.2 million. MediWound plans to utilize the proceeds for working capital and corporate purposes. The offering was conducted under a previously filed shelf registration statement with the SEC.
MediWound Ltd. (Nasdaq: MDWD) has completed its U.S. Phase 2 clinical study of EscharEx for treating venous leg ulcers (VLUs). The study met its primary endpoint, showing a significant improvement in complete debridement rates: 63% for EscharEx versus 30% for the gel vehicle (p=0.004). Final results, including secondary safety measurements, are expected in Q2 2022. CEO Sharon Malka emphasized EscharEx's potential as a leading solution for chronic wound care, aiming to advance to pivotal Phase 3 trials.
MediWound Ltd. (MDWD) reported total revenues of $23.8 million for 2021, reflecting a 9% increase from 2020, with product revenues soaring 46% to $11.4 million. The company achieved profitability for its NexoBrid product but faced an 18% decline in Q4 revenues to $5.5 million. A public equity offering garnered an additional $10 million. Positive results from the Phase 2 EscharEx trial support its potential for chronic wound treatment, and FDA guidance indicates a path for the NexoBrid Biologics License Application resubmission in mid-2022.
MediWound Ltd. (Nasdaq: MDWD) announced the closure of its public offering of 5,208,333 ordinary shares at $1.92 per share, raising approximately $10 million. The underwriters received a 30-day option for an additional 781,249 shares. The funds will be used for working capital and corporate purposes. Notable investors include Clal Biotechnology Industries, the largest shareholder. This offering utilized a shelf registration statement declared effective by the SEC in April 2019.
MediWound Ltd. (Nasdaq: MDWD) will release its financial results for Q4 and the year ending December 31, 2021, on March 17, 2022. Following this, a conference call will take place at 8:30 AM ET, allowing management to discuss results and corporate updates. MediWound focuses on bio-therapeutic solutions for tissue repair, including NexoBrid®, a product for burn care, currently marketed in the EU and at the registration stage in the U.S., and EscharEx®, a topical treatment for chronic wounds. The company's strategy emphasizes innovation in improving patient care.
MediWound Ltd. (Nasdaq: MDWD) announced a public offering of 5,208,333 ordinary shares priced at $1.92 each, aiming for gross proceeds of approximately $10 million. All shares are being sold by the company, with closing expected around March 7, 2022. The funds will be allocated for working capital and general corporate purposes. Oppenheimer & Co. is the sole book-running manager. This offering is registered under Form F-3 with the SEC. MediWound specializes in bio-therapeutic solutions for tissue repair and regeneration, including its NexoBrid product for burn treatment.
MediWound Ltd. (Nasdaq: MDWD) announced plans for an underwritten public offering of its ordinary shares, all offered by the company itself, with underwriters receiving a 30-day option to buy an additional 15%. The offering will proceed under a previously filed shelf registration statement and is contingent on market conditions. Oppenheimer & Co. Inc. will manage the offering. Interested investors are advised to review the forthcoming preliminary prospectus supplement for comprehensive details regarding the securities offered.
MediWound Ltd. (Nasdaq: MDWD) announced its participation in two investor conferences in March 2022. The first event is Cowen’s 42nd Annual Health Care Conference on March 9 at 9:10 am ET, followed by Oppenheimer on March 17 at 11:20 am ET. Both presentations will emphasize MediWound’s focus on biotherapeutic solutions for tissue repair. NexoBrid®, their commercial product, treats severe burns efficiently, while EscharEx® is in development for chronic wound care. Replays of the events will be available on the MediWound Investor Relations website.
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