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Israeli biopharmaceutical firm MediWound Ltd. (Nasdaq: MDWD), which has developed and sells a preparation for treating for burns that’s present process medical trials for treating wounds, has introduced that it has raised $27.5 million.
The corporate says it plans to make use of the online proceeds from the providing primarily for the acceleration of the event of EscharEx for treating wounds, establishing a US industrial presence, supporting enterprise growth actions, and for common company functions. The corporate may additionally use a portion of the online proceeds to in-license, spend money on or purchase companies, applied sciences, merchandise or belongings that it believes are complementary to its personal, though it has no present plans, commitments or agreements with respect to any acquisitions or in-licenses presently.
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MediWound’s share value has recovered in current months after the corporate raised $30 million in September. Within the yr earlier than that the share value had misplaced 51% however over the previous few months it has risen almost 40% to offer a market cap of $80.8 million. Clal Biotechnology Industries (TASE: CBI) holds 17% of the corporate.
MediWound, underneath CEO Ofer Gonen, develops non-surgical bio-therapeutic options for tissue restore and regeneration. The corporate extracts from the stem of the pineapple plant a substance (bromelain) that may take away burned pores and skin with out harming wholesome tissue. This course of is presently a surgical process. The corporate’s product for treating burns has been offered within the European marketplace for a few decade.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on February 5, 2023.
© Copyright of Globes Writer Itonut (1983) Ltd., 2023.
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