MediWound wins DoD funding to develop NexoBrid for U.S. Army (NASDAQ:MDWD)

MediWound (NASDAQ:MDWD) introduced Thursday that the U.S. Division of Protection ((DoD)) awarded the corporate $6.7M in further funding to develop its wound care product NexoBrid as a burn therapy for the U.S. Military. Particularly, the non-dilutive funding channeled via the DoD’s Medical Expertise Enterprise Consortium shall be used to develop NexoBrid as a non-surgical answer for field-care burn therapy, the Israel-based pharma stated. As a part of a licensing settlement with MediWound (MDWD), the U.S. biotech Vericel Company (NASDAQ:VCEL) owns the rights to promote and develop NexoBrid in North American markets. “This new award underscores our shared dedication to making sure NexoBrid’s availability for navy use and its potential to considerably change the early therapy strategy for extreme burns,” MDWD CEO Ofer Gonen remarked.