Pineapple Burn Treatment Company Receives Up to $43 Million in U.S. Funding

Nasdaq-listed biopharmaceutical company MediWound Ltd. announced Monday that it received the U.S. Department of Health and Human Services’ funding to advance the development of its pineapple-based burn treatment for the treatment of sulfur mustard injuries.

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Founded in 2001 in central Israel, MediWound develops, manufactures, and commercializes treatments for severe burns and chronic wounds. Excluding the new contract, the company raised around $170 million in funding to date, $100 million of that sum in a public offering.

MediWound was awarded a contract by the U.S. biomedical advanced research and development authority (BARDA) that will see it receive approximately $12 million to fund research and development activities. The contract concerns MediWound’s flagship product, NexoBrid, a pineapple enzyme-based treatment used for the removal of dead tissue from burn wounds. The eight-year contract contains options for supplementary funding of up to $31 million for further development activities, studies, and license applications. NexoBrid is a topical pharmaceutical product that removes dead or damaged tissue within hours without harming surrounding healthy tissues. The treatment was granted marketing authorization from the European Medicines Agency and Israeli Ministry of Health, and was commercially launched in Europe and Israel.

In May, the company received the U.S. Food and Drug Administration’s (FDA) approval to expand the use of NexoBrid to injuries related to sulfur mustard, a chemical warfare agent.