Clal Biotechnology Industries: A Strategic Approach To Mediwound
Edison | Apr 10, 2018 07:00AM ET
Clal Biotechnology Industries Ltd (TA:CBI) portfolio of investments continues to progress on multiple fronts. Most importantly, MediWound (CBI owns a 35% stake) announced in March that it had been approached by a third party to consummate a strategic transaction. The exact nature of the proposed transaction is unclear and could range from a product out-licensing to the acquisition of all of MediWound. The companies are in advanced discussions and conducting mutual due diligence.
Continued growth at MediWound
MediWound recently announced its full year 2017 results. Revenues, which are based on NexoBrid sales in the EU, were up 60% in 2017 compared to the previous year. The company also updated timelines with top-line results from the US NexoBrid Phase III expected by the end of the year and protocol submission for the EscharEx Phase III to the FDA now expected in H218 (previously both were expected in H118).
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