MediWound Announces Closing of the Concurrent Registered

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YAVNE, Israel, Oct. 07, 2022 (GLOBE NEWSWIRE) — MediWound Ltd. (NASDAQ: MDWD), a completely built-in biopharmaceutical firm targeted on next-generation biotherapeutic options for tissue restore and regeneration, right this moment introduced the closing of its beforehand introduced registered direct and PIPE choices (the “Offerings”). The gross proceeds to the Company from the Offerings have been $30.5 million, earlier than deducting placement agent charges and different providing bills payable by the Company. The Company intends to make use of the internet proceeds from the Offerings primarily for the growth of EscharEx®, scale up of its services, and for basic company functions.

“We are very pleased to have attracted an outstanding group of new investors. Additionally, members of our senior management team and board of directors participated alongside investors, indicating their strong commitment and belief in our strategy. The net proceeds significantly strengthen our balance sheet and we expect them to provide an operating cash runway through 2025,” mentioned Ofer Gonen, Chief Executive Officer of MediWound.

H.C. Wainwright & Co. acted as the unique placement agent for the Offerings. LifeSci Capital, LLC acted as monetary advisor to the Company in the transaction.

The odd shares supplied in the registered direct providing have been supplied by means of the Company’s shelf registration assertion on Form F-3 (File No. 333-265203), beforehand filed with the Securities and Exchange Commission (the “SEC”) on May 25, 2022 and declared efficient by the SEC on June 3, 2022 (the “Shelf Registration Statement”), the accompanying prospectus, dated June 3, 2022, and a prospectus complement, dated September 22, 2022. The prospectus complement and accompanying prospectus referring to the odd shares offered in the registered direct providing has been filed with the SEC. Electronic copies of the prospectus complement and accompanying prospectus could also be obtained on the SEC’s web site at http://www.sec.gov. and can also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, third Floor, New York, New York 10022, by telephone at (212) 856-5711 or e-mail at placements@hcwco.com.

The pre-funded warrants and the warrants supplied in the PIPE providing, and the odd shares issuable thereunder, in addition to the warrants supplied to traders in the registered direct providing and the odd shares issuable thereunder, have been supplied and offered in a transaction not involving a public providing and haven’t been registered below the Securities Act of 1933, as amended (the “Securities Act”), or every other relevant state securities legal guidelines. Accordingly, these securities is probably not reoffered or resold in the United States besides pursuant to an efficient registration assertion or an relevant exemption from the registration necessities of the Securities Act and such relevant state securities legal guidelines. Pursuant to the Registration Rights Agreement, the Company has agreed to file a registration assertion with the SEC registering the resale of unregistered securities issued in the Offerings.

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This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase any of these Company securities, nor shall there be any sale of these Company securities in any state or different jurisdiction during which such supply, solicitation or sale can be illegal previous to the registration or qualification below the securities legal guidelines of any such state or different jurisdiction.

About MediWound

MediWound is a biopharmaceutical firm that develops, manufactures, and commercializes novel, value efficient, bio-therapeutic options for tissue restore and regeneration. Our technique is to leverage our enzymatic expertise platform, specializing in next-generation bioactive therapies for burn care, wound care, and tissue restore.

NexoBrid, our business orphan organic product for non-surgical eschar elimination of deep-partial and full-thickness thermal burns, is a bromelain-based organic product containing a sterile combination of proteolytic enzymes that selectively removes burn eschar inside 4 hours with out harming surrounding viable tissue. NexoBrid is presently marketed in the European Union and different worldwide markets and is at the registration-stage with the United States Food and Drug Administration (FDA). NexoBrid is supported by the U.S. Biomedical Advanced Research and Development Authority (BARDA).

EscharEx is our next-generation bioactive topical therapeutic below growth in the U.S. for debridement of power and exhausting to heal wounds. EscharEx is well-tolerated and has demonstrated security and efficacy in the debridement of varied power and different hard-to-heal wounds inside just a few each day functions in a number of Phase 2 trials. A gathering with the FDA to debate the Phase 3 pivotal research design is focused for the fourth quarter of calendar yr 2022.

MW005, our topical organic drug for the remedy of non-melanoma pores and skin cancers, is a clinical-stage product candidate below growth. The preliminary information from a Phase I/II research confirmed MW005 to be protected and well-tolerated, with a majority of the sufferers who accomplished the research with MW005 reaching full histological clearance of their goal lesions. The Company anticipates saying the remaining information in the fourth quarter of calendar yr 2022.

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Committed to innovation, we’re devoted to bettering normal of care and enhancing affected person lives. For extra data, please go to www.mediwound.com.

Cautionary Note Regarding Forward-Looking Statements

MediWound cautions you that each one statements apart from statements of historic reality included on this press launch that handle actions, occasions, or developments that we count on, consider, or anticipate will or could happen in the future are forward-looking statements. Although we consider that we’ve an affordable foundation for the forward-looking statements contained herein, they’re primarily based on present expectations about future occasions affecting us and are topic to dangers, assumptions, uncertainties, and elements, all of that are tough to foretell and plenty of of that are past our management. Actual outcomes could differ materially from these expressed or implied by the forward-looking statements on this press launch. These statements are sometimes, however will not be at all times, made by the use of phrases or phrases akin to “anticipates,” “intends,” “estimates,” “plans,” “expects,” “continues,” “believe,” “guidance,” “outlook,” “target,” “future,” “potential,” “goals” and related phrases or phrases, or future or conditional verbs akin to “will,” “would,” “should,” “could,” “may,” or related expressions.

Specifically, this press launch incorporates forward-looking statements regarding the supposed use of proceeds of the Offerings, anticipated progress, growth, research design, anticipated information timing, aims anticipated timelines, expectations and business potential of our merchandise and product candidates together with EscharEx® and NexoBrid®. Among the elements which will trigger outcomes to be materially completely different from these said herein are the inherent uncertainties related to the unsure, prolonged and costly nature of the product growth course of; the timing and conduct of our research of our merchandise and product candidates, together with the timing, progress and outcomes of present and future medical research, and our analysis and growth applications; the approval of regulatory submission by the FDA, the European Medicines Agency or by every other regulatory authority, our skill to acquire advertising approval of our merchandise and product candidates in the U.S. or different markets; the medical utility, potential benefits and timing or chance of regulatory filings and approvals of our merchandise and merchandise; our expectations concerning future development, together with our skill to develop new merchandise; dangers associated to our contracts with BARDA; market acceptance of our merchandise and product candidates; our skill to keep up satisfactory safety of our mental property; competitors dangers; the want for extra financing; the influence of authorities legal guidelines and rules and the influence of the COVID-19 pandemic. For instance, we’re unable to foretell how the pandemic will have an effect on the general healthcare infrastructure, together with the skill to recruit sufferers, the skill to conduct the research in medical websites and the tempo with which governmental companies, akin to the FDA, will overview and approve regulatory submissions. Additional government-imposed quarantines and necessities to “shelter at home” or different incremental mitigation efforts additionally could influence our skill to supply provides for our operations or our skill or capability to fabricate, promote and help the use of our merchandise and product candidates in the future.

These and different vital elements are mentioned in better element in MediWound’s prospectus complement, the annual report on Form 20-F for the yr ended December 31, 2021, filed with the Securities and Exchange Commission (“SEC”) on March 17, 2022, Quarterly Reports on Form 6-Okay and different filings with the SEC from time-to-time. These forward-looking statements replicate MediWound’s present views as of the date hereof and MediWound undertakes, and particularly disclaims, any obligation to replace any of these forward-looking statements to replicate a change of their respective views or occasions or circumstances that happen after the date of this launch besides as required by regulation.

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