Teva set to invest in MediWound:
This article was originally published in Clinica
Executive Summary
Israeli wound care company MediWound has attracted funding from several institutional, private and corporate investors including Teva Pharmaceutical Industries, one of the world's largest generic pharmaceutical companies, which is set to invest $15m. Teva will pay $10m for shares from MediWound stockholders and an additional $5m for shares issued by the company itself. The transaction will also see Teva gain exclusive marketing and distribution rights to MediWound's Debrase gel dressing for burns in certain countries, while MediWound will manufacture the product and supply it to Teva for commercialisation. Petach Tikva-based Teva will have an option to extend the licence agreement to include Europe and North America. Debrase, currently in phase III clinical trials, can remove 90% of burnt tissue on a patient within four hours, according to MediWound.
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