MediWound raises $25M
By HME News Staff
Updated 11:20 AM CDT, Tue July 16, 2024
YAVNE, Israel – MediWound has entered into a definitive purchase agreement with several new and existing investors, including Mölnlycke Health Care, a medtech company specializing in solutions for wound care and surgical procedures. MediWound plans to use the $25 million in gross proceeds from the private investment in public equity (PIPE) to advance EscharEx pre-commercial activities and support general corporate purposes. “We are proud to have the strong support of Mölnlycke, and of our new and existing investors in this financing,” said Ofer Gonen, CEO of MediWound. “This significant investment will enable us to further strengthen our strategic plans for EscharEx, creating substantial long-term value for our stakeholders and help improve the standard of care for patients.” Concurrently with the PIPE offering, Mölnlycke will be granted specific rights, including a representative to attend meetings of the company's R&D Committee, and will be able to participate in potential strategic partnership discussions and M&A processes under certain circumstances. Mölnlycke's ownership, however, will be limited to no more than 9.99% of the company's issued and outstanding ordinary shares. MediWound says it has developed a strong R&D pipeline, including the company’s lead drug under development, EscharEx, a Phase III-ready biologic for the debridement of chronic wounds that offers significant potential advantages and an opportunity to expand the market.
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