Brief
Burn Treatment Company MediWound Enters Licensing Agreement with Vericel
The agreement, for commercial rights in North America to Mediwound’s flagship burn treatment NexoBrid, could net the company up to $150 million
Nasdaq-listed biopharmaceutical company MediWound Ltd. has entered a North America licensing agreement with Nasdaq-listed cell therapies company Vericel Corp., MediWound announced Tuesday. According to the agreement, for the exclusive distribution of Mediwound’s flagship burn treatment NexoBrid, Vericel will make an upfront payment of $17.5 million, an additional payment of $7.5 million contingent upon U.S. BLA approval, and up to $125 million in payments contingent on meeting certain annual sales milestones.
Founded in 2001 and based in central Israel, MediWound develops and manufactures treatments for severe burns and chronic wounds. NexoBrid is a pineapple enzyme-based topical treatment for the removal of dead tissue from burn wounds. The treatment was granted marketing authorization from the European Medicines Agency and Israeli Ministry of Health, and was commercially launched in Europe and Israel.
MediWound CEO Sharon Malka. Photo: PR
