The wound treatment company raised the money from parent company Clal Biotechnology and financial institutions.
MediWound Ltd. has raised $18 million at a company value of $180 million from parent company Clal Biotechnology Industries Ltd. (TASE: CBI) and financial institutions. The company has developed NexoBrid, a burn wound eschar removal agent, and wound treatment technology PolyHeal, which is approved in Europe, Russia and Israel.
Clal Biotech, controlled by Len Blavatnik's Access Industries Inc., through Clal Industries and Investments Ltd. (TASE: CII), owns 52% of MediWound. It will invest $8.5 million in the financing round. MediWound also received offers to invest $8 million from other current shareholders.
MediWound is also seeking to exercise its option to acquire Teva Pharmaceutical Industries Ltd.'s (NYSE: TEVA; TASE: TEVA) 14% stake in the company in exchange for up to $43 million in future payments from revenue.
Published by Globes [online], Israel business news - www.globes-online.com - on June 23, 2013
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