Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is ending its collaboration with wound treatment company MediWound Ltd., a subsidiary of Clal Biotechnology Industries Ltd. (TASE: CBI) (52%).
Clal Biotech today notified the TASE, "Teva notified MediWound that wound treatment is not one of the fields in which Teva will focus its strategy. Therefore, Teva and MediWound reached agreement on the termination of their agreements on wound healing from 2007 and 2010, with regard to MediWound's NexoBrid and Polyheal products. The collaboration will terminate at the end of the month."
Clal Biotech added, "MediWound and the company are reviewing the repercussions of the termination of the collaboration, and MediWound is preparing accourdingly."
Clal Biotech CEO Ruben Krupick said, "MedWound thanks Teva for its contribution in developing its innovative products NexoBrid and PolyHeal."
In September, MediWound obtained marketing approval from the European Medicines Agency (EMA) for NexoBrid for the treatment of third degree burns. NexoBrid, a gel made of enzymes extracted from the stem of pineapple plants to remove eshar (necrotic burned tissue), is smeared on the burn area four hours after it occurred.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012