Israeli biopharmaceutical firm MediWound (Nasdaq: MDWD), which has developed merchandise for remedy of burns and wounds, has introduced that it has raised $25 million in a non-public placement led by Swedish firm Mölnlycke Well being Care, a world chief within the discipline of treating wounds.
Over the previous few weeks, MediWound’s share worth has risen 40% on rumors of the corporate’s sale to US agency Solventum (NYSE: SOLV), and on the finish of buying and selling yesterday MediWound had a market cap of $196 million. The share worth of Clal Biotechnology (TASE: CBI) is down 13% right now and MediWound’s share worth opened right now down 3% on Wall Avenue.
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Israeli funding home Yelin Lapidot additionally participated within the non-public placement at a worth of $17.20 per share, a 19% low cost on the share worth this morning earlier than the announcement of the fund elevating.
All choices open
The non-public placement now means that an acquisition of MediWound will not be anticipated anytime quickly, nevertheless it doesn’t rule out the potential of such a deal sooner or later. As a part of the capital elevating, Mölnlycke doesn’t obtain advertising and marketing rights for MediWound’s merchandise, so all the things is open so far as the Israeli biopharmaceutical firm is anxious.
Nonetheless, the settlement signed between the businesses within the non-public placement does embody rights to take part in any future acquisition process. As well as, the businesses’ CEOs will meet commonly, and there’s a scientific cooperation settlement between the businesses was signed final 12 months concerning the Part III trial of MediWound’s wound care product.
So as to not shut choices, the settlement limits Mölnlycke’s holding within the firm to 9.99%, and requires it to vote in favor of a future acquisition cope with one other firm, if there’s one.
MediWound CEO Ofer Gonen stated, “Mölnlycke is an organization specializing in wound therapeutic, which desires to take the affected person from prevention with merchandise resembling stress socks, to the remedy section, therapeutic if potential, or high quality of life with the wound. What they lack, like each different firm within the discipline on the planet, is the recent product.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 15, 2024.
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