YAVNE, Israel, June 16, 2017 (GLOBE NEWSWIRE) -- MediWound Ltd. (NASDAQ:MDWD), a fully-integrated biopharmaceutical company specializing in innovative therapies to address unmet needs in severe burn and wound management, announces the results of an independent pharmacoeconomic study that, for the first time, analyzed the impact of NexoBrid® on total treatment costs of burn patients in Germany compared with standard-of-care (SOC). The findings were based on treatment costs listed in the pricing system for German hospitals (G-DRG) and showed a nearly 30% reduction in the total cost of care, per patient, when treating burn patients with NexoBrid® compared with
Results of the study, titled "Enzymatic burn wound debridement with NexoBrid: Cost simulations and investigations on cost efficiency," were published in the peer-reviewed journal Gesundheitsökonomie & Qualitätsmanagement (Health Economics & Quality Management).
"The findings of this study combined with the growing body of independent cost-effectiveness data generated in various European countries, support our efforts to expand reimbursement coverage in target markets. These analyses, along with the results of our clinical studies and numerous independent abstracts at premier burn conferences, underscore NexoBrid's value proposition as an effective and minimally invasive treatment that provides a clinical benefit for patients, while reducing costs for health systems," said Gal
Cohen, Chief Executive Officer of MediWound.
The independent analyses used two different cost simulation models: the Average Outcome Model, where total costs of NexoBrid-based treatments were compared to total costs of SOC to determine cost saving potentials; and the Defined Patient Model, where clinical pathways and actual treatment costs were analyzed to allow economic considerations. In both models, NexoBrid was found to be the more cost-effective treatment, while also offering qualitative advantages over SOC.
Additional findings from the analyses showed:
- Three-fourths of all burn cases in the range of 1% to 15% Total Body Surface Area (TBSA) could economically benefit from NexoBrid use;
- Even in more severe cases (15% TBSA
burned), the total cost of NexoBrid-based treatment did not exceed the cost of comparable SOC;
- Using NexoBrid did not detract from the existing G-DRG reimbursement for the hospital, which can still be triggered by several OPS codes;
- NexoBrid served as a strategic tool for hospitals to reduce procedure and operating room time, thereby freeing up both physicians and operating room capacity that can be utilized to generate revenues from reimbursement of additional surgical cases;
- In addition to the quantitative savings, NexoBrid offers qualitative advantages that could translate to quality-of-life and long-term benefits, such as reduced surgical burden on the patient, reduced risks associated with blood transfusions or reduced donor site procedural pain and scars.
MediWound is a fully integrated biopharmaceutical company focused on developing, manufacturing and commercializing novel therapeutics based on its patented proteolytic enzyme technology to address unmet needs in the fields of severe burns, chronic and other hard-to-heal wounds, connective tissue disorders and other indications. MediWound's first innovative biopharmaceutical product, NexoBrid®, received marketing authorization from the European Medicines Agency, as well as the Israeli and Argentinian Ministries of Health, for the removal of dead or damaged tissue, known as eschar, in adults with deep partial- and full-thickness thermal burns and was launched in Europe,
Israel and Argentina. NexoBrid® represents a new paradigm in burn care management, and clinical trials have demonstrated, with statistical significance, its ability to non-surgically and rapidly remove the eschar earlier, relative to the existing standard of care, without harming viable tissues.
MediWound's second innovative product candidate, EscharEx®, is a topical biological drug being developed for debridement of chronic and other hard-to-heal wounds and is complementary to the large number of existing wound healing products, which require a clean wound bed in order to heal the wound. EscharEx® contains the same proteolytic enzyme technology as
NexoBrid®, and benefits from existing development data on NexoBrid®. In January 2017, MediWound reported final results from its second Phase 2 study evaluating EscharEx for the debridement of chronic and other hard-to-heal wounds. In this Phase 2 clinical trial, EscharEx met its primary endpoint demonstrating higher incidence of complete debridement with statistical significance.
For more information, please visit www.mediwound.com.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements within
the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, such as statements regarding the potential of NexoBrid® to be a new paradigm in burn care management, MediWound ability to leverage existing data for the development of EscharEx®, and MediWound's expectations for the clinical development of both NexoBrid® and EscharEx
®. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. Forward-looking statements are based on MediWound's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors. In particular, you should consider the risks discussed under the heading "Risk Factors" in MediWound's annual report on Form 20-F for the year ended
December 31, 2016 and information contained in other documents filed with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. The forward-looking statements made herein speak only as of the date of this announcement and MediWound undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
|Contacts:|| || ||Anne Marie Fields|
|Sharon Malka|| || ||Senior Vice President|
|Chief Financial and Operations Officer|| || ||LHA Investor Relations|
|MediWound|| || ||212-838-3777|
|firstname.lastname@example.org|| || ||email@example.com|
Source: MediWound Ltd.
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