MediWound debuts strongly

|By:, SA News Editor

IPO MediWound (MDWD) closes at $17.27 up 23% today on 4.2M shares giving it a market cap of $364M.

The Israel-based biopharmaceutical company focuses on severe burns, chronic and hard-to-heal wounds and connective tissue disorders.

Its lead product, NexoBrid, is a topical gel for the removal of eschar (debridement).

The firm launched NexoBrid in Europe in December 2013.

A phase 3 clinical trial will commence in the U.S. by June.

No sales as of year end.

Operations burned $8M in 2013.