Israel's MediWound Signs $112 Million Deal in U.S.

REUTERS - Israel-based MediWound has signed a five-year, $112 million contract with the U.S. authority that handles public health medical emergencies to further develop and buy the company's drug treatment for severe burns.

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Investment group Clal Biotechnology, which has a 45 percent stake in MediWound, said in a statement that the deal with the Biomedical Advanced Research and Development Authority would raise preparedness for mass-casualty incidents.

The U.S. body would also help MediWound get approval for its drug NexoBrid, a topical treatment that removes damaged tissue, from the Food and Drug Administration, Clal said.

Clal's shares were up 18.6 percent in Tel Aviv in midday trading.