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Steve Cohen invests in MediWound

MediWound

MediWound team (company pic)

MediWound Ltd., an Israeli biopharmaceutical company focused on next-generation biotherapeutic solutions for tissue repair and regeneration, completed a funding round of $27.5 million. According to Calcalist, none other than New York Mets owner Steve Cohen was one of the new investors through his hedge fund Point72. Point72 will reportedly hold a 9% share in MediWound.

MediWound is a biopharmaceutical company that develops, manufactures, and commercializes novel, cost effective, bio-therapeutic solutions for tissue repair and regeneration. Our strategy leverages our enzymatic technology platform, focused on next-generation bioactive therapies for burn care, wound care and tissue repair.

In January, MediWound won approval from the FDA for the use of its NexoBird burns treatment, for the removal of eschar in adults with deep partial-thickness and/or full-thickness thermal burns. MediWound will receive a $7.5 million milestone payment from Vericel Corporation which (holds an exclusive license to commercialize NexoBrid in North America) that was triggered by the FDA approval of NexoBrid.

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NexoBrid is already approved for use in 43 countries, including the European Union, Japan, India, and other international markets. NexoBrid (anacaulase-bcdb) is a botanical drug product containing proteolytic enzymes indicated for the removal of eschar in adults with deep partial- and/or full-thickness thermal burns.

In September 2022, MediWound raised $30 million from the issuance of new shares. Mediwound is traded on the NASDAQ. The issue comes after the company’s shares fell by over 50% over the past year due to the ongoing financial crisis and global market drops.

Forbes estimates that Steve Cohen has a personal net worth of $17.5 billion. Point72 Asset Management oversees about $26 billion in investments.

Steven A. Cohen is the Chairman and Chief Executive Officer of Point72, a 2,000+ person registered investment advisor. Mr. Cohen founded S.A.C. Capital Advisors in 1992 and converted his investment operations to the Point72 Asset Management family office in 2014.

Mr. Cohen has leveraged his lengthy career in the public markets to found Point72 Ventures, a global venture capital strategy, and Point72 Hyperscale, a private equity strategy that seeks to drive value creation through applied AI.

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