EscharEx - (VALUE)

March 5, 2026: MediWound Ltd. (NASDAQ: MDWD) reported Q4 and full-year 2025 results and provided pipeline/manufacturing updates.

EscharEx: The global Phase III VALUE trial in venous leg ulcers is enrolling 216 patients across ~40 sites in the U.S. and Europe; the pre-specified interim sample size assessment and enrollment completion are expected by year-end 2026. The program is planned to expand into two additional indications in 2H 2026: a Phase II study in diabetic foot ulcers and an investigator-initiated trial in pressure ulcers. MediWound also announced a research collaboration agreement with B. Braun joining the EscharEx clinical development program, alongside multiple existing collaborators.

NexoBrid: U.S. adoption is expanding, with partner Vericel reporting utilization across more than 70 burn centers (out of ~90 target accounts). MediWound’s expanded NexoBrid manufacturing facility is now operational, increasing capacity sixfold; commercial supply from the facility remains subject to regulatory approvals expected in 2026.

Financials: 2025 revenue was $17.0M (Q4 $1.9M) and cash/cash equivalents and deposits were $53.6M at Dec. 31, 2025. The company reaffirmed 2026–2028 revenue guidance and noted 2028 includes potential initial EscharEx contribution subject to regulatory approval.