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

Five year contract will allow U.S. authority that deals with public health medical emergencies to further develop and buy the company's treatment for severe burns.

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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.

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.