Mölnlycke® Health Care announces US $15m investment in next-generation enzymatic therapeutics company MediWound Ltd

GOTHENBURG, Sweden, July 15, 2024 /PRNewswire/ -- Mölnlycke Health Care, a world-leading MedTech company specialising in solutions for wound care and surgical procedures, announced today an investment of US $15m in MediWound Ltd. (Nasdaq: MDWD) (MediWound) through a definitive share purchase agreement in a private investment in public equity (PIPE). MediWound, a global leader in next-generation enzymatic therapeutics focused on non-surgical wound debridement, has a vision to improve the existing standards of care and patient experiences, while reducing costs and unnecessary surgeries.

Debridement is a standard of care step to prepare the wound bed for healing and can help in the management of infection. It involves the removal of dead or devitalised tissue from a wound.

"We are very excited to make this strategic investment in MediWound. It aligns with our strategy to bring radical innovations into the wound care space and provide alternative solutions to the more traditional debridement options to improve clinical outcomes and patient experience," said Zlatko Rihter, CEO of Mölnlycke. "This investment will support Mölnlycke's Wound Care mission to 'help free patients from the burden of wounds' and I look forward to this partnership."

Mölnlycke and MediWound have also entered into a collaboration agreement to strengthen their partnership. Under the key terms of this agreement, Mölnlycke is granted specific rights, including having a representative attend meetings of MediWound's R&D Committee and will also be able to participate in potential strategic partnership discussions and M&A processes under certain circumstances.

"We are delighted to have Mölnlycke's support. This substantial investment will empower us to strengthen our strategic plans, creating significant long-term value for our stakeholders and help to improve standards of care for patients" said Ofer Gonen, CEO of MediWound.

For more information, please conatct:
Jennifer Doak
Global Communications Director Wound Care
Email: jennifer.doak@molnlycke.com
Phone: +1 678 206 6179
Ellie Hanson
FINN Partners for MediWound
Email: ellie.hanson@finnpartners.com
Phone: +1 929 588 2008

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