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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2017 shares
Document And Entity Information
Entity Registrant Name	MediWound Ltd.
Entity Central Index Key	0001593984
Document Type	20-F
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	27,047,737
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2017

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 36,069	$ 28,866
Short-term bank deposits		1,163
Trade receivables	369	332
Inventories	1,886	844
Other receivables	3,196	2,407
CURRENT ASSETS, TOTAL	41,520	33,612
LONG-TERM ASSETS:
Long term deposits	56	103
Property, plant and equipment, net	1,924	1,276
Intangible assets, net	635	773
LONG-TERM ASSETS, TOTAL	2,615	2,152
ASSETS, TOTAL	44,135	35,764
CURRENT LIABILITIES:
Trade payables and accrued expenses	3,251	3,320
Other payables	2,182	2,060
CURRENT LIABILITIES, TOTAL	5,433	5,380
LONG-TERM LIABILITIES:
Deferred revenues	988	1,023
Liabilities in respect of IIA grants	7,380	6,839
Contingent consideration for purchase of shares	14,381	14,533
Liability in respect of discontinued operation	6,003
Severance pay liability, net	330	219
LONG TERM LIABILITIES, TOTAL	29,082	22,614
SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 0.01 par value: Authorized: 32,244,508 shares as of December 31, 2016 and 2017; Issued and Outstanding 21,930,449 and 27,047,737 shares respectively.	75	60
Share premium	138,992	114,979
Foreign currency translation adjustments	(38)	(9)
Accumulated deficit	(129,409)	(107,260)
SHAREHOLDERS' EQUITY, TOTAL	9,620	7,770
LIABILITIES AND SHAREHOLDERS' EQUITY, TOTAL	$ 44,135	$ 35,764

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of financial position [abstract]
Ordinary shares, par value	₪ 0.01	₪ 0.01
Ordinary shares, Authorized	32,244,508	32,244,508
Ordinary shares, Issued	27,047,737	21,930,449
Ordinary shares, Outstanding	27,047,737	21,930,449

CONSOLIDATED STATEMENTS OF COMPREHENSIVE PROFIT OR LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Profit or loss [abstract]
Revenues	$ 2,496	$ 1,558	$ 601
Cost of revenues	1,578	2,158	2,519
Gross profit (loss)	918	(600)	(1,918)
Operating expenses:
Research and development, net of participations	5,462	7,068	6,021
Selling and marketing	5,362	8,403	9,284
General and administrative	3,781	4,084	4,004
Total operating expenses	14,605	19,555	19,309
Operating loss	(13,687)	(20,155)	(21,227)
Financial income	406	2,166	1,052
Financial expense	(1,252)	(896)	(1,496)
Loss from continuing operations	(14,533)	(18,885)	(21,671)
Loss from discontinued operation	(7,616)		(417)
Net loss	(22,149)	(18,885)	(22,088)
Items to be reclassified to profit or loss in subsequent periods:
Foreign currency translation adjustments	(29)	7	2
Total comprehensive loss	$ (22,178)	$ (18,878)	$ (22,086)
Basic and diluted net loss per share:
Basic and diluted net loss per share from continuing operations	$ (0.62)	$ (0.86)	$ (1.00)
Basic and diluted net loss per share from discontinued operations	(0.33)		(0.02)
Total Basic and diluted net loss per share	$ (0.95)	$ (0.86)	$ (1.02)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands

Share capital [Member]

Share premium [Member]

Foreign currency translation Adjustments [Member]

Accumulated deficit [Member]

Total

Balance at Dec. 31, 2014

$ 59

$ 109,117

$ (18)

$ (66,287)

$ 42,871

Loss for the period

(22,088)

Other comprehensive income

Total comprehensive loss

(22,088)

(22,086)

Exercise of options

Share-based compensation

2,659

Balance at Dec. 31, 2015

111,801

(16)

(88,375)

23,470

Loss for the period

(18,885)

Other comprehensive income

Total comprehensive loss

(18,885)

(18,878)

Exercise of options

^[1]

Share-based compensation

3,171

Balance at Dec. 31, 2016

114,979

(9)

(107,260)

7,770

Loss for the period

(22,149)

Other comprehensive income

(29)

Total comprehensive loss

(29)

(22,149)

(22,178)

Exercise of options

^[1]

Issuance of ordinary shares of NIS 0.01 par value net of issuance expenses

22,643

22,658

Share-based compensation

1,363

Balance at Dec. 31, 2017

$ 75

$ 138,992

$ (38)

$ (129,409)

$ 9,620

[1]	Represents an amount lower than $1.

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - ₪ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of changes in equity [abstract]
Ordinary shares, par value	₪ 0.01	₪ 0.01

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flows from Operating Activities:
Net loss	$ (22,149)	$ (18,885)	$ (22,088)
Adjustments to profit and loss items:
Loss from discontinued operation	7,616		417
Depreciation and amortization	567	589	503
Share-based compensation	1,363	3,171	2,659
Revaluation of liabilities in respect of IIA grants	229	(1,298)	(474)
Revaluation of contingent consideration for purchase of shares	351	(1,621)	(764)
Increase in severance pay liability, net	111	125	90
Net financing income	(349)	(414)	(288)
Un-realized foreign currency (gain) loss	(185)	(94)	69
Adjustments to profit and loss items, total	9,703	458	2,212
Changes in asset and liability items:
Decrease (increase) in trade receivables	28	(107)	(181)
Decrease (increase) in inventories	(1,042)	873	(273)
Decrease (increase) in other receivables and long term deposits	(1,227)	33	(556)
Increase (decrease) in trade payables and accrued expenses	(135)	2,195	33
Increase (decrease) in other payables and deferred revenues	(70)	(1,012)	1,252
Changes in asset and liability items, total	(2,446)	1,982	275
Net cash used in continuing operating activities	(14,892)	(16,445)	(19,601)
Net cash used in discontinued operating activities	(1,563)
Net cash used in operating activities	(16,455)	(16,445)	(19,601)
Cash Flows from Investing Activities:
Purchase of property and equipment	(1,045)	(671)	(376)
Purchase of intangible assets	(30)	(30)	(30)
Interest received	349	407	287
Proceeds from short term bank deposits, net	1,163	2,110	36,165
Net cash provided by investing activities	437	1,816	36,046
Cash Flows from Financing Activities:
Proceeds from exercise of options	7	7	26
Proceeds from issuance of shares, net	22,658
Proceeds from the IIA grants, net of re-payment	330	900	752
Net cash provided by financing activities	22,995	907	778
Exchange rate differences on cash and cash equivalent balances	226	86	(143)
Increase (decrease) in cash and cash equivalents from continuing activities	8,766	(13,636)	17,080
Decrease in cash and cash equivalents from discontinued activities	(1,563)
Balance of cash and cash equivalents at the beginning of the year	28,866	42,502	25,422
Balance of cash and cash equivalents at the end of the year	$ 36,069	$ 28,866	$ 42,502

GENERAL

12 Months Ended

Dec. 31, 2017

Disclosure of general [Abstract]

GENERAL

NOTE 1:

GENERAL

General description of the Company and its operations:

MediWound Ltd. (the "Company" or "MediWound"), is a fully integrated biopharmaceutical company focused on developing, manufacturing and commercializing novel products to address unmet needs in the fields of severe burns, as well as chronic and other hard to heal wounds, connective tissue disorders and other indications.

The Company's innovative biopharmaceutical product, NexoBrid, received marketing authorization from the European Medicines Agency ("EMA") and the Israeli and Argentinean ministries of health for removal of dead or damaged tissue, known as eschar, in adults with deep partial and full thickness thermal burns. The Company sells NexoBrid in Europe and in Israel through its commercial organization and in other territories through local distributers.

The Company has a contract with the U.S. Biomedical Advanced Research and Development Authority ("BARDA"), which was modified on July 2017, for the advancement of the development and manufacturing, as well as the procurement of NexoBrid, as a medical countermeasure as part of BARDA preparedness for mass casualty events (see also Note 15e).

The Company has two wholly owned subsidiaries: MediWound Germany GmbH, acting as Europe (“EU”) marketing authorization holder and EU sales and marketing arm and MediWound UK Limited, an inactive company. In addition, the Company owns approximately 8% of PolyHeal Ltd., a private life sciences company ("PolyHeal").

The Company's securities are listed for trading on NASDAQ since March 2014. In September, 2017, the Company completed a follow-on public offering. A total of 5,037,664 new ordinary shares were issued in consideration to net proceeds of $22,658, after deducting underwriter’s discounts, commissions and other offering expenses (see also Note 16d).

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2017

Disclosure of significant accounting policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2: SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation of financial statements:

These financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

The Company's consolidated financial statements have been prepared on a cost basis, except for financial instruments which are measured at fair value through profit or loss.

The Company's operating cycle is one year.

Consolidated financial statements include the financial statements of companies that the Company controls (subsidiaries). Control is achieved when the Company is exposed, or has rights, to variable returns from its investment with the investee and has the ability to affect those returns through its power over the investee.

The financial statements of the Company and its subsidiaries are prepared as of the same dates and periods. The consolidated financial statements are prepared using uniform accounting policies by all entities in the Group. Significant intercompany balances and transactions and gains or losses resulting from intercompany transactions are eliminated in full in the consolidated financial statements.

Functional currency, reporting currency and foreign currency:

Functional currency and reporting currency:

The reporting currency of the financial statements is the U.S. dollar.

The Company determines the functional currency based on the currency in which it primarily generates and expends cash. The Company determined that its functional currency is the U.S. dollar since most of the Company's expenses are in U.S. dollars and the economic environment in which the Company operates in and performs its transactions is mostly affected by the U.S dollar. A certain portion of the Company's costs are denominated in NIS mainly due to payroll and related benefit costs incurred in Israel. To further support the Company's determination, the Company has analyzed the currency in which funds from financing activities are generated or held and the currency in which receipts from operating activities are usually retained. In this respect, funds from financing activities were principally derived from significant funds raised in U.S. dollars including the public offering completed in 2014, the follow-on offering completed in 2017 and U.S governmental funds.

The Company operates and plans its activities in U.S. dollars and accordingly its periodic budgets and internal management reports are prepared and monitored using the U.S. dollar as the primary currency and provides the basis for the determination of share-based compensation.

The functional currency of the Company's subsidiary in Germany has been determined to be its local currency - the EURO. Assets and liabilities of this subsidiary are translated at year end exchange rates and its statement of operations items are translated using the actual exchange rates at the dates of which those items are recognized. Such translation adjustments are recorded as a separate component of accumulated other comprehensive income (loss) in shareholders' equity.

Transactions, assets and liabilities in foreign currency:

Transactions denominated in foreign currency are recorded upon initial recognition at the exchange rate on the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are translated at the end of each reporting period into the functional currency at the exchange rate at that date. Exchange differences are recognized in profit or loss.

Cash equivalents:

Cash equivalents are considered as highly liquid investments, including unrestricted short‑term bank deposits with an original maturity of three months or less from the date of deposit.

Short-term bank deposits:

Short-term bank deposits have a maturity of more than three months, but less than one year, from the deposit date.

Inventories:

Inventories are measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated selling costs. The Company periodically evaluates the condition and age of inventories and makes provisions for slow moving inventories accordingly.

Cost of inventories is determined as follows:

Raw materials	-	At cost of purchase using the first-in, first-out method.

Finished goods	-	On the basis of average costs including materials, labor and other direct and indirect manufacturing costs based on practical capacity.

Participation by governments support:

(i) Israeli Innovation Authority grants:

Government grants are recognized when there is reasonable assurance that the grants will be received and the Company will comply with the attendant conditions.

Research and development grants received from the Israeli Innovation Authority ("IIA"), formerly the Office of the Chief Scientist in Israel ("OCS"), are recognized upon receipt as a liability if future economic benefits are expected from the project that will result in royalty-bearing sales. In that event, the royalty obligation is treated as a contingent liability in accordance with IAS 37, "Provisions, Contingent Liabilities and Contingent Assets" ("IAS 37").

A liability for the grant is first measured at fair value using a discount rate that reflects a market interest rate. The difference between the amount of the grant received and the fair value of the liability is accounted for as a government grant and recognized as a deduction from research and development expenses. After initial recognition, the liability is measured at amortized cost using the effective interest method. Royalty payments are treated as a reduction of the liability.

At the end of each reporting period, the Company evaluates whether there is reasonable assurance that the liability recognized, in whole or in part, will not be repaid based on its best estimate of future sales and, if so, the appropriate amount of the liability is derecognized against a corresponding reduction in research and development expenses.

(ii) Funding by BARDA:

Non-royalty bearing funds from BARDA for funding research and development projects are recognized at the time the Company is entitled to such grants on the basis of the related costs incurred and recorded as a deduction from research and development expenses.

Leases:

The criteria for classifying leases as finance or operating leases depend on the substance of the agreements and are made at the inception of the lease in accordance with the following principles as set out in IAS 17.

Operating leases:

Leases in which substantially all the risks and rewards of ownership of the leased asset are not transferred to the Company are classified as operating leases. Lease payments are recognized as an expense in profit or loss on a straight-line basis over the lease term.

Property, plant and equipment, net:

Property, plant and equipment are measured at cost, including directly attributable costs, less accumulated depreciation, accumulated impairment losses and excluding day-to-day servicing expenses. Cost includes spare parts and auxiliary equipment that are used in connection with the plant and equipment.

Depreciation is calculated on a straight‑line basis over the useful life of the assets at annual rates as follows:

		%
Office furniture		6 - 15
Electronic machinery and laboratory equipment		15 - 20
Computers		33
Leasehold improvements		See below

Leasehold improvements are depreciated on a straight‑line basis over the shorter of the lease term (including the renewal option held by the Company which is expected to be exercised) and the expected life of the improvement.

Intangible assets, net:

Separately acquired intangible assets with finite useful life are measured on initial recognition at cost.

Intangible assets are amortized over their useful life using the straight‑line method beginning in the period in which the intangible assets generates net cash inflows to the Company. The useful life is over the length of the patent or knowledge life. The intangible assets are reviewed for impairment at each reporting date until they begin generating net cash inflows and subsequently whenever there is an indication that the asset may be impaired.

Revenue recognition

The Company currently generates revenues from direct and indirect sales of its innovative biopharmaceutical product, NexoBrid, to burn centers and hospital burn units in Europe and Israel as well as to local distributors in other countries. Revenues are recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenues can be reliably measured, regardless of when the payment is being made. Revenues are measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duty and net of returns and allowances, trade discounts and volume rebates.

Revenues from the sale of products are recognized when all the significant risks and rewards of ownership of the products have passed to the buyer and the seller no longer retains continuing managerial involvement. The delivery date of the products is usually the date of which ownership passes.

Revenues from distributors agreements which comprised of multiple elements (including license to access the Company's intellectual property and exclusive distribution rights), provide for varying consideration terms, such as upfront payments and milestone payments, are recognized when the criteria for revenue recognition have been met and only to the extent of the consideration that is not contingent upon completion or performance of future services under the contract. The Company concluded that the components do not have "stand alone value" to the customer and accordingly they are accounted for as one unit of account. Consequently, revenues from these components are recognized on the straight line basis over the license period.

Deferred revenues include unearned amounts received from customers not yet recognized as revenues.

Research and development expenses:

Research and development expenses are recognized in profit or loss when incurred. An intangible asset arising from a development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale; the Company's intention to complete the intangible asset and use or sell it; the Company's ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits; the availability of adequate technical, financial and other resources to complete the intangible asset; and the Company's ability to measure reliably the expenditure attributable to the intangible asset during its development. Since the Company's research and development projects are often subject to regulatory approval procedures and other uncertainties, the conditions for the capitalization of costs incurred before receipt of approvals are not normally satisfied and, therefore, research and development expenses are recognized in profit or loss when incurred.

Impairment of non-financial assets:

The Company evaluates the need to record an impairment of the carrying amount of non-financial assets whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount of non‑financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount of an asset that does not generate independent cash flows is determined for the cash‑generating unit to which the asset belongs, and is calculated based on the projected cash flows that will be generated by the cash generating unit.

An impairment loss of an asset, is reversed only if there have been changes in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, may not increase the value above the lower of (i) the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been recognized for the asset in prior years, and (ii) its recoverable amount.

Financial instruments:

Financial assets:

Financial assets within the scope of IAS 39, are initially recognized at fair value plus directly attributable transaction costs, except for financial assets measured at fair value through profit or loss in respect of which transaction costs are recorded in profit or loss.

After initial recognition, the accounting treatment of financial assets is based on their classification as follows:

Receivable:

The Company has receivables that are financial assets with fixed or determinable payments that are not quoted in an active market.

Financial liabilities:

Financial liabilities within the scope of IAS 39 are initially measured at fair value.

After initial recognition, the accounting treatment of financial liabilities is based on their classification as follows:

Financial liabilities measured at amortized cost:

Loans and other contingent liabilities are measured at amortized cost using the effective interest method taking into account directly attributable transaction costs.

Fair value:

The fair value of financial instruments that are traded in an active market is determined by reference to market prices at the end of the reporting period. For financial instruments where there is no active market, fair value is determined using valuation techniques. Such techniques include using recent arm's length market transactions; reference to the current market value of another instrument which is substantially the same; discounted cash flow or other valuation models.

Offsetting financial instruments:

Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

5. Classification of financial instruments by fair value hierarchy:

All assets and liabilities measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the lowest level input that is significant to the entire fair value measurement:

Level 1	-	quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2	-	inputs other than quoted prices included within level 1 that are observable either directly or indirectly.

Level 3	-	inputs that are not based on observable market data (valuation techniques which use inputs that are not based on observable market data).

De-recognition of financial instruments:

Financial assets:

A financial asset is derecognized when the contractual rights to the cash flows from the financial asset expire or the Company has transferred its contractual rights to receive cash flows from the financial asset or assumes an obligation to pay the cash flows in full without material delay to a third party and has transferred substantially all the risks and rewards of the asset, or has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

Financial liabilities:

A financial liability is derecognized when it is extinguished, that is when the obligation is discharged or cancelled or expires. A financial liability is extinguished when the debtor (the Company) discharges the liability by paying in cash, other financial assets, goods or services; or is legally released from the liability.

Contingent consideration for purchase of shares:

The contingent consideration liability for purchase of shares is measured at fair value and initially recorded against equity. Subsequent changes in the fair value are recognized in profit or loss.

Provisions:

A provision in accordance with IAS 37 is recognized when the Company has a present (legal or constructive) obligation as a result of a past event, it is expected to require the use of economic resources to clear the obligation and a reliable estimate can be made of it.

Short-term employee benefits and severance pay liability, net:

The Company has several employee benefit plans:

Short-term employee benefits:

Short-term employee benefits include salaries, paid annual leave, paid sick leave, recreation and social security contributions and are recognized as expenses as the services are rendered. A liability in respect of a cash bonus is recognized when the Company has a legal or constructive obligation to make such payment as a result of past service rendered by an employee and a reliable estimate of the amount can be made.

Post-employment benefits:

The Company has liabilities for severance pay for its employees in several of EU jurisdictions and in Israel.

Post-employment benefit plans in Israel are normally financed by contributions to insurance companies and classified as defined contribution plans or as defined benefit plans. The Company has defined contribution plans for Israeli employees pursuant to the Severance Pay Law into which the Company pays fixed contributions and has no legal or constructive obligation to pay further contributions on account of severance pay if the fund does not hold sufficient amounts to pay all employee benefits relating to employee service in current and prior periods.

Contributions to the defined contribution plan in respect of severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee's services.

Share-based compensation:

Certain Company employees and directors are entitled to remuneration in the form of equity-settled share-based compensation.

Equity-settled transactions

The cost of equity-settled transactions with employees is measured at the fair value of their equity instruments granted at grant date. The fair value is determined using the binomial option pricing model.

The cost of equity-settled transactions is recognized in profit or loss, together with a corresponding increase in equity, during the period which the performance or service conditions are to be satisfied, ending on the date on which the relevant employees become fully entitled to the award.

Discontinued operation:

A discontinued operation is a component of the Company that either has been disposed of or is classified as held for sale. Disposal group to be abandoned meets the criteria for being a discontinued operation at the date of which it ceases to be used. The operating results relating to the discontinued operation are separately presented in the consolidated statements of comprehensive income.

Loss per share:

Loss per share is calculated by dividing the loss attributable to Company shareholders by the weighted average number of outstanding ordinary shares during the period. Potential ordinary shares are only included when their conversion decreases income per share or increases loss per share from continuing operation.

Furthermore, potential ordinary shares converted during the period are included in diluted loss per share only until the conversion date and from that date in basic loss per share.

Reclassification:

Certain amounts previously reported in the consolidated financial statements have been reclassified to conform to current year presentation. Such reclassifications did not affect net loss, shareholders’ equity or cash flows.

SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS USED IN THE PREPARATION OF THE FINANCIAL STATEMENTS

12 Months Ended

Dec. 31, 2017

Disclosure of Significant accounting judgments, estimates and assumptions used in the preparation of the financial statements [Abstract]

SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS USED IN THE PREPARATION OF THE FINANCIAL STATEMENTS

NOTE 3:-

SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS USED IN THE PREPARATION OF THE FINANCIAL STATEMENTS

The preparation of the financial statements requires management to make estimates and assumptions that have an effect on the application of the accounting policies and on the reported amounts of assets, liabilities and expenses.

Discussed below are the key assumptions made in the financial statements concerning uncertainties at the end of the reporting period and the critical estimates computed by the Company that may result in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

•

Determining the fair value of share based compensation to employees and directors:

The fair value of share based compensation to employees and directors is determined using the binomial option pricing models.

The assumptions used in the models include the expected volatility, early exercise factor, expected dividend and risk-free interest rate.

•

Liabilities in respect to IIA grants:

Government grants received from the IIA are recognized as a liability if future economic benefits are expected from the research and development activity that will result in royalty‑bearing sales. As the contingent liability is calculated based on future royalty-bearing sales, there is uncertainty regarding the estimated future cash flows and the estimated discount rate used to measure the amortized cost of the liability.

•

Contingent consideration for the purchase of shares:

Contingent consideration for the purchase of shares was first measured at fair value. After initial recognition, the liability is measured at amortized cost using the effective interest method. As the contingent consideration is calculated based on future royalty‑bearing sales, there is uncertainty regarding the estimated future cash flows and the estimated discount rate used to measure the fair value of this liability.

•

Legal claims:

In estimating the likelihood of outcome of legal claims filed against the Company and its investees, the companies rely on the opinion of their legal counsel. These estimates are based on the legal counsel's best professional judgment, taking into account the stage of proceedings and legal precedents in respect of the different issues. Since the outcome of the claims will be determined in courts, the results could differ from these estimates.

DISCLOSURE OF NEW STANDARDS IN THE PERIOD PRIOR TO THEIR ADOPTION

12 Months Ended

Dec. 31, 2017

Disclosure of expected impact of initial application of new standards or interpretations [abstract]

DISCLOSURE OF NEW STANDARDS IN THE PERIOD PRIOR TO THEIR ADOPTION

NOTE 4:-

DISCLOSURE OF NEW STANDARDS IN THE PERIOD PRIOR TO THEIR ADOPTION

IFRS 15, "Revenue from Contracts with Customers":

IFRS 15 ("the new Standard") was issued by the IASB in May 2014.

The new Standard replaces IAS 18, "Revenue", IAS 11, "Construction Contracts", IFRIC 13, "Customer Loyalty Programs", IFRIC 15, "Agreements for the Construction of Real Estate", IFRIC 18, "Transfers of Assets from Customers" and SIC-31, "Revenue - Barter Transactions Involving Advertising Services".

The new Standard introduces a five-step model that will apply to revenue earned from contracts with customers:

Step 1: Identify the contract with a customer, including reference to contract combination and accounting for contract modifications.

Step 2: Identify the separate performance obligations in the contract

Step 3: Determine the transaction price, including reference to variable consideration, financing components that are significant to the contract, non-cash consideration and any consideration payable to the customer.

Step 4: Allocate the transaction price to the separate performance obligations on a relative stand-alone selling price basis using observable information, if it is available, or using estimates and assessments.

Step 5: Recognize revenue when a performance obligation is satisfied, either at a point in time or over time.

The new standard is effective for the Company beginning January 1, 2018.

The new Standard allows the option of modified retrospective adoption with certain reliefs according to which the new Standard will be applied to existing contracts from the initial period of adoption and thereafter with no restatement of comparative data. Under this option, the Company will recognize the cumulative effect of the initial adoption of the new Standard as an adjustment to the opening balance of retained earnings (or another component of equity, as applicable) as of the date of initial application. Alternatively, the new Standard permits full retrospective adoption.

The Company will adopt this standard using the modified retrospective method rather than full retrospective method.

The Company generates revenues from direct and indirect sales of its products and from license agreements with its distributors.

Revenue from the sale of goods:

In contracts with customers where the sale of goods is expected to be the only performance obligation, the Company expects to recognize revenue at a point in time when the control of the goods is transferred to the customer, normally when the goods are delivered to the customer. This is similar to the timing of revenue recognition in accordance with current accounting standards.

Revenue from distribution agreements with Multiple- element:

According to the new Standard, entities need to determine whether the licenses for intellectual property is distinct from other goods and services included in the contract.

An analysis of the Company's contracts with its distributors indicates that in the majority of contracts, the Company grants its distributors a right to access its intellectual property as it exists throughout the license period. Accordingly, the Company is expected to recognize revenue from the granting of licenses over the license period, which is identical to the current accounting treatment.

In addition, in accordance with terms of some license agreements, the Company is entitled for up-front payments which are accounted for as deferred revenues and recognized in profit and loss over the license period. Currently the Company does not recognize finance expenses in respect of deferred revenues. According to the new Standard, when long-term advances (exceeding one year) are received for a future service, the Company is required to accrue interest and recognize finance expense on the advances over the period of the contract.

The accumulated effect of implementing the new Standard as of January 1, 2018 will be increase of deferred revenues by $ 249 and increase of accumulated deficit by

$ 249.

IFRS 16, "Leases":

In January 2016, the IASB issued IFRS 16, "Leases" ("the new Standard"). According to the new Standard, a lease is a contract, or part of a contract, that conveys the right to use an asset for a period of time in exchange for consideration.

According to the new Standard:

Lessees are required to recognize an asset and a corresponding liability in the statement of financial position in respect of all leases (except in certain cases) similar to the accounting treatment of finance leases according to the existing IAS 17, "Leases".

Lessees are required to initially recognize a lease liability for the obligation to make lease payments and a corresponding right-of-use asset. Lessees will also recognize interest and depreciation expense separately.

The new Standard is effective for annual periods beginning on or after January 1, 2019. Early adoption is permitted provided that IFRS 15, "Revenue from Contracts with Customers", is applied concurrently. The Company does not anticipate early adopting this standard.

For leases existing at the date of transition, the new Standard permits lessees to use either a full retrospective approach, or a modified retrospective approach, with certain transition relief whereby restatement of comparative data is not required.

At this stage, the Company is evaluating the different options for adoption of the new Standard.

The company is currently evaluating the impact of implementing this guidance on its consolidated financial statements. In 2018, the Company will continue to assess the potential effect of IFRS 16 on its consolidated financial statements as well as its adoption methodology.

CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2017

Cash and cash equivalents [abstract]

CASH AND CASH EQUIVALENTS

NOTE 5:-

CASH AND CASH EQUIVALENTS

	December 31,
	2016		2017

USD cash for immediate withdrawal		25,863		26,700
Non-USD cash for immediate withdrawal		3,003		9,369

		28,866		36,069

SHORT-TERM BANK DEPOSITS

12 Months Ended

Dec. 31, 2017

Disclosure of short-term bank deposits [Abstract]

SHORT-TERM BANK DEPOSITS

NOTE 6:-

SHORT-TERM BANK DEPOSITS

	December 31,
	2016		2017

USD bank deposits		1,163		-

		1,163		-

The USD deposits bear annually interest of 1.3% for the period of 181 days for 2016.

INVENTORIES

12 Months Ended

Dec. 31, 2017

Classes of current inventories [abstract]

INVENTORIES

NOTE 7:- INVENTORIES

	Year ended December 31,
	2016		2017

Raw materials		296		339
Finished goods		548		1,547

		844		1,886

OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2017

Trade and other current receivables [abstract]

OTHER RECEIVABLES

NOTE 8:-

OTHER RECEIVABLES

	Year ended December 31,
	2016		2017

Government authorities		61		226
BARDA funds		953		2,175
Prepaid expenses and other		224		129
Former shareholder, net (see Note 15d)		1,169		666

		2,407		3,196

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about property, plant and equipment [abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 9:-

PROPERTY, PLANT AND EQUIPMENT, NET

Balance as of December 31, 2017:

	Office furniture		Electronic machinery and laboratory equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2017		227		2,551		185			2,120		5,083
Disposals		-		-		(74	)		-		(74	)
Additions		9		1,010		26			-		1,045
Foreign currency translation		12		-		2			-		14

Balance as of December 31, 2017		248		3,561		139			2,120		6,068

Accumulated Depreciation

Balance as of January 1, 2017		126		1,508		118			2,057		3,809
Disposals		-		-		(74	)		-		(74	)
Additions		20		294		47			38		399
Foreign currency translation		8		-		2			-		10

Balance as of December 31, 2017		154		1,802		93			2,095		4,144

Depreciated cost as of December 31, 2017		94		1,759		46			25		1,924

Balance as of December 31, 2016:

	Office furniture			Electronic machinery and laboratory equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2016		221			1,955		174			2,095		4,445
Disposals		-			-		(27	)		-		(27	)
Additions		12			596		38			25		671
Foreign currency translation		(6	)		-		-			-		(6	)

Balance as of December 31, 2016		227			2,551		185			2,120		5,083

Accumulated Depreciation

Balance as of January 1, 2016		102			1,205		86			2,012		3,405
Disposals		-			-		(27	)		-		(27	)
Additions		27			303		59			47		436
Foreign currency translation		(7	)		-		-			-		(7	)

Balance as of December 31, 2016		122			1,508		118			2,059		3,807

Depreciated cost as of December 31, 2016		105			1,043		67			61		1,276

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about intangible assets [abstract]

INTANGIBLE ASSETS, NET

NOTE 10:-

INTANGIBLE ASSETS, NET

Balance as of December 31, 2017

	License and Knowhow
Cost
Balance as of January 1, 2017		1,496
Additions		30
Balance as of December 31, 2017		1,526

Accumulated Amortization
Balance as of January 1, 2017		723
Additions		168
Balance as of December 31, 2017		891

Amortized cost
Balance as of December 31, 2017		635

Balance as of December 31, 2016

	License and Knowhow
Cost
Balance as of January 1, 2016		1,466
Additions		30
Balance as of December 31, 2016		1,496

Accumulated Amortization
Balance as of January 1, 2016		570
Additions		153
Balance as of December 31, 2016		723

Amortized cost
Balance as of December 31, 2016		773

Intangible assets include exclusive licenses to use patents, know-how and intellectual property for the development, manufacturing and marketing of products related to burn treatments and other products in the field of wound care. These licenses were purchased from third parties and from one of the Company's shareholders (see Note 15c).

OTHER PAYABLES

12 Months Ended

Dec. 31, 2017

Trade and other payables [abstract]

OTHER PAYABLES

NOTE 11:-

OTHER PAYABLES

	Year ended December 31,
	2016		2017

Employees and payroll accruals		1,566		1,621
Current maturities of IIA grants		49		57
Related parties		295		324
Deferred revenues		122		131
Other		28		49

		2,060		2,182

LIABILITIES IN RESPECT OF IIA GRANTS

12 Months Ended

Dec. 31, 2017

Liabilities In Respect Of Iia Grants Schedule Of Israeli Innovation Authority Grants Details

ISRAELI INNOVATION AUTHORITY GRANTS

NOTE 12:-

LIABILITIES IN RESPECT OF IIA GRANTS

	Year ended December 31,
	2016			2017

Balance as of January 1		7,303			6,888
Grants received		929			401
Royalties		(46	)		(81	)
Amounts carried to Profit or Loss		(1,298	)		229

Balance as of Decmber 31		6,888			7,437

Current maturities		(49	)		(57	)

Long term liabilities in respect of IIA grants		6,839			7,380

The Company is committed to pay royalties to the IIA up to the total grants received plus the applicable accrued interest. The total amount of grants actually received by the Company from the IIA including accrued LIBOR interest, net of royalties actually paid by the Company as of December 31, 2017 is approximately $ 13,356, while the amortized cost of this liability as of that date is $ 7,437, using the interest method.

FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about financial instruments [abstract]

FINANCIAL INSTRUMENTS

NOTE 13:-

FINANCIAL INSTRUMENTS

Financial risk factors:

The Company's activities expose it to various market risks (mainly foreign currency risk and interest rate risk). The Company's Board of Directors has provided guidelines for risk management and specific policies for various risk exposures.

Foreign currency risk

The Company operates primarily in an international environment and is exposed to foreign exchange risk resulting from the fact that a certain portion of the Company's costs are denominated in NIS and EURO, mainly due to payroll and related benefit costs incurred in Israel and in Europe, and additionally due to marketing expenses incurred in Europe.

Fair value:

The carrying amount of cash and cash equivalents, short‑term bank deposits, trade and other receivables and trade and other payables approximates their fair value due to the short‑term maturities of such instruments.

The fair value of liabilities in respect to IIA grants with fixed interest is based on a calculation of the present value of the cash flows at the interest rate for a loan with similar terms. The Company used a discount rate of 12% based in part of the Company's estimation at the time of the Company's recognition of the IIA grants which approximates the fair value at the respective balance sheet date.

The fair value of the contingent consideration for purchase of shares is based on a calculation of the present value of future royalty payments using a discount rate that reflects the applicable market rate of interest at the date of the initial recognition. The Company used a discount rate of 16% based in part on the Company's estimation, at the time of the Company's initial recognition of the contingent consideration. The amount and timing of the future royalty payments are based on the Company's projected revenues.

Sensitivity tests relating to changes in market factors:

The Company operates in an international environment and is exposed to foreign exchange risk resulting from the exposure to different currencies, mainly NIS and EURO. Foreign exchange risks arise from recognized assets and liabilities denominated in a foreign currency other than the functional currency.

	December 31,
	2015			2016			2017

Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change:
5% increase in exchange rate	$	361		$	11		$	346
5% decrease in exchange rate	$	(361	)	$	(11	)	$	(346	)

Sensitivity tests and principal work assumptions:

The selected changes in the relevant risk variables were determined based on management's estimate as to reasonable possible changes in these risk variables.

The Company has performed sensitivity tests of principal market risk factors that may affect its reported operating results or financial position.

The sensitivity tests present the profit or loss for the relevant risk variables chosen as of each reporting date.

SEVERANCE PAY LIABILTY, NET

12 Months Ended

Dec. 31, 2017

Disclosure of defined benefit plans [abstract]

SEVERANCE PAY LIABILTY, NET

NOTE 14:-

SEVERANCE PAY LIABILTY, NET

The Company has liabilities for severance pay for its employees in Israel and in several EU jurisdictions. The Company's liability for employee benefits is based on local laws, valid labor agreements, the employee's salary and the applicable terms of employment, which together generate a right to severance compensation. Post‑employment employee benefits are partially financed by deposits with defined contribution plans, as detailed below.

The Israeli Severance Pay Law, 1963 ("Severance Pay Law"), specifies that Israeli employees are entitled to severance payment, following the termination of their employment. Under the Severance Pay Law, the severance payment is calculated as one month salary for each year of employment, or a portion thereof. Under Section 14 of the Severance Pay Law ("Section 14"), employees are entitled to have monthly deposits, at a rate of 8.33% of their monthly salary, made on their behalf to their insurance funds. Payments in accordance with Section 14 release the Company from the liability for any future severance payments in respect of those employees.

The majority of the Company's liability for severance pay is covered by Section 14. Acordingly, the Company does not recognize any liability for severance pay due to these employees and the deposits under Section 14 are not recorded as an asset in the Company's balance sheet. These contributions for compensation represent defined contribution plans. The Company recognizes liability for severance pay due to its employees in EU in accordance with local laws and its Israeli employees which are not under Section 14.

CONTINGENT LIABILITIES AND COMMITMENTS

12 Months Ended

Dec. 31, 2017

Disclosure of contingent liabilities [abstract]

CONTINGENT LIABILITIES AND COMMITMENTS

NOTE 15:-

CONTINGENT LIABILITIES AND COMMITMENTS

In 2000, the Company signed an exclusive license agreement (as amended in 2007) with a third party with regard to its patents and intellectual property. Pursuant to the agreement, the Company received an exclusive license to use the third party's patents and intellectual property, for the purpose of developing, manufacturing, marketing, and commercializing products for treatment of burns and other wounds.

In consideration for this exclusive license, the Company paid an aggregate amount of $ 950 following the achievement of certain development milestones as set forth in the agreement. In addition, the Company undertook to pay royalties of 1.5% to 2.5% from future revenues from sales of products which are based on this patent for a period ranging between 10 to 15 years from the first commercial delivery in a major country, and thereafter the Company will have a fully paid-up royalty-free license for these patents. In addition, royalties will be paid at the rate of 10% - 20% from sub-licensing of such patents. Moreover, the Company agreed to pay a one-time lump-sum amount of $ 1,500 when the aggregate revenues based on these patents reach $ 100,000. The amount of royalty payments for the years 2015, 2016 and 2017 amounted to $11, $57 and $48, respectively.

Under the Research and Development Law, (the "R&D Law") the Company undertook to pay royalties of 3% on the revenues derived from sales of products or services developed in whole or in part using IIA grants. The maximum aggregate royalties paid generally cannot exceed 100% of the grants received by the Company, plus annual interest generally equal to the 12-month LIBOR applicable to dollar deposits, as published on the first business day of each calendar year. The maximum royalty amount payable by the Company as of December 31, 2017 is approximately $ 13,356, which represents the total amount of grants actually received by the Company from the IIA including accrued interest, net of royalties actually paid by the Company (see also Note 12).

On November 24, 2010, the Company signed an agreement with one of its shareholders, to purchase a patent for the production and sale of related products for the treatment of burns. In consideration for the transfer and assignment of all rights and title relating to the patent, the Company paid a one-time payment in the amount of $ 88 and undertook to pay annual fixed payments in the amount of $ 30 as long as the patent is valid in the US and/or in any EU member country. The patent expires in May 2018, and the Company's accumulated contingent liability with respect to this agreement as of December 31, 2017 is $ 13.

d. Contingent consideration for purchase of shares:

Beginning in 2007, the Company entered into a number of agreements with Teva Pharmaceutical Industries Limited (“Teva”) related to collaboration in the development, manufacturing and commercialization of solutions for the burn and chronic wound care markets. In consideration for these agreements, Teva made investments in the Company's ordinary shares and agreed to fund certain research and development expenses and manufacturing costs and perform all marketing activities for both NexoBrid, under the 2007 Teva Agreement, and the PolyHeal Product, under the 2010 PolyHeal Agreements (see Note 19a). As of December 31, 2012, all of these agreements were terminated.

On September 2, 2013, in accordance with the terms of the Teva Shareholders’ Rights Agreement, the Company exercised its rights to repurchase all of its shares held by Teva, and purchased 755,492 ordinary shares, in consideration for an obligation to pay Teva future royalty payments of 20% of the Company’s revenues from the sale or license of NexoBrid up to a total amount of $30,600 and from the sale or license of the PolyHeal Product up to a total amount of $10,800. The obligation to pay Teva future royalty payments no longer includes amounts from the sale or license of the PolyHeal Product since the license to the PolyHeal Product has expired.

The total amortized cost of the future royalty obligation to Teva were initially account at their estimated fair value at the exercise date on September 2, 2013, using a discounted cash flow model based on sales projections. Subsequent changes in this liability are recorded in profit or loss within financial income of financial expenses. Accordingly, the liability was remeasured to $ 14,533 and $14,381 as of December 31, 2016 and 2017, respectivaly, as a result of a revaluation in the amount of $ 1,621 and $ (351), respectively, Pwhich was recorded within financial income and financial expenses, respectively. As of December 31, 2017, the Company did not pay royalties to Teva and an accrued royalty payments resulting from actual sales are classified as former shareholder net (see also Note 8).

On September 29, 2015, the Company was awarded a U.S. Biomedical Advanced Research and Development Authority ("BARDA") contract for development and procurement of NexoBrid for the U.S. The contract is for the advancement of the development and manufacturing, as well as the procurement of NexoBrid, as a medical countermeasure as part of BARDA preparedness for mass casualty events. On July 19, 2017 BARDA had upsized the contract and exercised an option to fund further research and development activities relating to NexoBrid. The modified contract includes $56,000 of funding to support development activities to complete the U.S. Food and Drug Administration (FDA) approval process for NexoBrid for use in thermal burn injuries, as well as $16,000 for procurement of NexoBrid, which is contingent upon FDA Emergency Use Authorization (EUA) and/or FDA marketing authorization for NexoBrid. In addition, the contract includes options for further funding of up to $10,000 for expanding NexoBrid’s indications and of up to $50,000 for additional procurement of NexoBrid.

As of December 31, 2017 the Company recorded $14,931 in funding from BARDA under the contract.

On September 15, 2014, a Statement of Claim was filed against the Company by some shareholders of Polyheal. The plaintiffs allege that the Company is obligated to pay them a total amount of $1,475 in exchange for their respective portion of PolyHeal's shares, following the commencement of a feasibility study for the next generation of the PolyHeal Product in November 15, 2012, which constituted a milestone under a buyout option agreement between the Company, PolyHeal and its shareholders.

On November 12, 2017, the Tel Aviv District Court issued its ruling accepting the plaintiffs’ claim and ruled that the Company is obligated to purchase PolyHeal’s shares for approximately $6,750 plus applicable interest, which represents the purchase price for the total number of shares that the 2010 PolyHeal Agreements contemplate would be acquired by the Company from all the shareholders of PolyHeal. The Court ordered that the Company is obligated to purchase shares of PolyHeal from the plaintiffs, on the basis of their actual share holdings in PolyHeal as of January 15, 2013, for approximately $1,500, within 15 days from the date of the Court's ruling.

Accordingly, a full provision for the shares purchase price plus the accrued interest, totaled $7,500 was recorded within the loss from discontinued operation in respect of this claim, of which approximately $1,497 was paid to plaintiffs in consideration for PolyHeal's shares. In addition, the Company born legal expenses totaled $116.

On December 27, 2017, the Company filed an appeal with the Israeli supreme court, in which it: (i) rejected the arguments raised against it in the Statement of Claim; (ii) emphasized that its obligation under the 2010 PolyHeal Agreement to purchase the 7.5% of PolyHeal’s shares is subject to the consumption of the deferred closing, as defined in the buyout agreement, including the receipt of the funds from Teva on a “back to back” basis; and (iii) stated that since no such payment has been made by Teva, the Company is not subject to any obligation to purchase PolyHeal shares and/or make any payments to PolyHeal’s shareholders. A hearing will be held in January 2019.

Operating Lease Agreements:

The Company's offices and its production facility in Israel are located in a building that the Company leases from its Parent Company, in accordance with a sub-lease agreement. The Company subleases approximately 1,860 square meters of laboratory, office and clean room space at a monthly rent fee of NIS 71,000 (approximately $18). This sub-lease agreement expires in October 2022.

The Company's subsidiary offices are located in Germany. The monthly rent fee is currently € 2,800 (approximately $ 3) and the lease agreement expires on April 30, 2019.

The Company and its subsidiary have operating lease agreements for 18 vehicles for a period of three years. As of December 31, 2017, the Company deposited $ 46 in respect of the vehicles operating leases.

Minimum future lease fees for both agreements as of December 31, 2017 are as follows:

2018			522
2019			450
2020			296
2021			246
2022			205
			1,719

EQUITY

12 Months Ended

Dec. 31, 2017

Disclosure of classes of share capital [abstract]

EQUITY

NOTE 16:-

EQUITY

Share capital:

	Year ended December 31,
	2016		2017

Authorized number of shares		32,244,508		32,244,508

Issued and outstanding number of shares		21,930,449		27,047,737

Rights attached to shares:

An ordinary share confers upon its holder(s) a right to vote at the general meeting, a right to participate in distribution of dividends, and a right to participate in the distribution of surplus assets upon liquidation of the Company.

In March 2014, the Company completed its IPO, and its securities are listed for trading on NASDAQ.

On September 21, 2017, the Company completed a follow-on public offering. A total of 4,400,000 new ordinary shares were issued in consideration to offering price of $5.00 per share. On September 29, 2017, the underwriters partially exercised their ‘green shoe’ option and purchased 637,664 additional ordinary shares. The net proceeds, including the underwriters' option, were $22,658, after deducting underwriter’s discounts, commissions and other offering expenses.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2017

Disclosure of terms and conditions of share-based payment arrangement [abstract]

SHARE-BASED COMPENSATION

NOTE 17:-

SHARE‑BASED COMPENSATION

Expense recognized in the financial statements:

The expenses that was recognized for services received from employees and directors is as follows:

	Year ended December 31,
	2015		2016		2017

Cost of revenues		372		504		188
Research and development		511		752		488
Selling and marketing		669		765		204
General and administrative		1,107		1,150		483

Total share-based compensation		2,659		3,171		1,363

Share-based payment plan for employees and directors:

The Company has reserved for issuance stock options a total of 3,229,386 ordinary shares.

As of December 31, 2017, 1,294,651 ordinary shares of the Company were still available for future grant. Any options, which are forfeited or not exercised before expiration, become available for future grants.

Options granted under the Company's 2003 Israeli Share Option Plan ("Plan") are exercisable in accordance with the terms of the Plan, within 10 years from the date of grant, against payment of an exercise price. The options generally vest over a period of three or four years.

In March 2014, the Company adopted and obtained shareholder approval for its 2014 Equity Incentive Plan (the “2014 Plan”). Options granted under the Company's 2014 Plan are exercisable in accordance with the terms of the Plan, within 10 years from the date of grant, against payment of an exercise price or cashless exercise. The options generally vest over a period of three or four years.

Share options activity:

The following table lists the number of share options, the weighted average exercise prices of share options and changes that were made in the option plan to employees and directors:

	2015					2016					2017
	Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price


Outstanding at beginning of year		1,902,324			7.98		2,313,224			9.35		2,181,075			9.62
Granted		739,500			9.27		47,500			8.56		40,000			6.72
Exercised		(300,000	)		0.09		(80,149	)		0.09		(79,624	)		0.09
Forfeited		(28,600	)		12.69		(99,500	)		10.80		(206,716	)		8.93

Outstanding at end of year		2,313,224			9.35		2,181,075			9.62		1,934,735			10.02

Exercisable at end of year		1,535,055			9.39		1,401,866			9.35		1,562,235			10.25

The following table summarizes information about share options outstanding as of December 31, 2017:

	Options outstanding as of December 31, 2017
Range of exercise prices ($ )	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

2.63		208,332		0.86		2.63
7.26 ‑ 9.82		903,703		6.49		9.06
12.89 ‑ 13.76		822,700		5.92		12.94

Total		1,934,735		5.64		10.02

The fair value of the options granted to employees and directors at the grant date for the years ends December 31, 2015, 2016 and 2017 was $4,336, $193 and $172, respectively.

On December 23, 2015, the Company's Board of Directors approved the grant of 70,000 options to purchase ordinary shares under the Plan for an exercise price of $ 9.58 per share to the CEO of the Company which was approved by the shareholder's general meeting on January 28, 2016.

On June 9, 2016, the shareholders' general meeting of the Company approved to extend the exercise period of certain options previously granted to the CEO. The Fair Value of the extension of the Options, as of the modification date, was estimated at approximately $39.

On June 22, 2017, the Company's Board of Directors approved the grant of 40,000 options to purchase ordinary shares under the Plan, for an exercise price of $ 6.72 per share to certain new Board members of the Company. The fair value of the options granted, as of the grant date, was estimated at approximately $172.

The fair value of the Company's share options granted to employees and directors for the years ended December 31, 2015, 2016 and 2017 was estimated using the binomial option pricing models using the following assumptions:

	December 31,
	2015		2016		2017

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		71		72		63
Risk‑free interest rate (%)		0.25-2.24		0.28-2.0		1.22-2.15
Early exercise factor (%)		100-150		100-150		150
Weighted average share prices (Dollar)		8.98		8.56		7.80

The expected share price volatility is based on the historical equity volatility of the share prices of comparable companies that are publicly traded, as there is no sufficient historical trading data for the Company.

TAXES ON INCOME

12 Months Ended

Dec. 31, 2017

Disclosure of taxes on income [Abstract]

TAXES ON INCOME

NOTE 18:-

TAXES ON INCOME

The Company operates in two main tax jurisdictions: Israel and Germany. As such, the Company is subject to the applicable tax rates in the jurisdictions in which it conducts its business.

Corporate tax rates in Israel:

The Israeli corporate income tax rate was 24% in 2017, 25% in 2016 and 26.5% in 2015.

In December 2016, the Israeli Parliament approved the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years), which reduces the corporate income tax rate to 24% (instead of 25%) effective from January 1, 2017 and to 23% effective from January 1, 2018.

Tax benefits under the Israel Law for the Encouragement of Capital Investments, 1959 (the "Investment Law"):

Under the Investment Law, the Company has been granted "Beneficiary Enterprise" status which provides certain benefits, including tax exemptions and reduced tax rates. Income not eligible for Beneficiary Enterprise benefits is taxed at a regular rate.

During the benefit period, the Company will be tax exempt in the first two years of the benefit period and subject to tax at the reduced rate of 10%- 25% for an additional period of five to eight years (depending on the percentage of foreign investments in the Company) of the benefit period. The benefit entitlement period starts from the first year that the Beneficiary Enterprise first earned taxable income, and is limited to 12 years from the year in which the Company requested to have tax benefits apply. In the event of distribution of dividends from the said tax exempt income, the amount distributed will be subject to corporate tax at the reduced rate ordinarily applicable to the Beneficiary Enterprise's income.

Tax exempt income generated under the Company's "Beneficiary Enterprise" program will be subject to taxes upon dividend distribution or complete liquidation. The entitlement to the above benefits is conditional upon the Company's fulfilling the conditions stipulated by the Investment Law and regulations published thereunder. Should the Company fail to meet such requirements in the future, income attributable to its Beneficiary Enterprise programs could be subject to the statutory Israeli corporate tax rate and the Company could be required to refund a portion of the tax benefits already received, with respect to such programs.

Corporate tax rate in Germany:

The statutory corporate tax rate in Germany was 30.53% in 2017, 29.72% in 2016 and 30% in 2015.

Final tax assessments:

The Company has finalized its tax assessments through the 2012 tax year.

The company's subsidery has not received a final tax assessment since its incorporation.

Net operating carryforward losses for tax purposes and other temporary differences:

As of December 31, 2017, the Company had carryforward losses and other temporary differences mainly from R&D expenses together amounting to approximately $115,000.

Deferred taxes:

The Company did not recognize deferred tax assets for carryforward losses and other temporary differences because their utilization in the foreseeable future is not probable.

Current taxes on income:

The Company did not record any current taxes for the years ended December 31, 2015, 2016 and 2017 as a result of its carryforward losses.

Theoretical tax:

The reconciliation between the tax expense, assuming that all the income and expenses, gains and losses in the statement of income were taxed at the statutory tax rate and the taxes on income recorded in profit or loss, does not provide significant information and therefore was not presented (the main reconciliation item is due to operating losses and other temporary differences for which deferred tax assets were not recognized).

DISCONTINUED OPERATION

12 Months Ended

Dec. 31, 2017

Disclosure of discontinued operation [Abstract]

DISCONTINUED OPERATION

NOTE 19:-

DISCONTINUED OPERATION

In December 2010, the Company, Teva and PolyHeal, entered into a series of agreements to collaborate in the development, manufacturing and commercialization of PolyHeal's wound care product, or the PolyHeal Product (“2010 PolyHeal Agreement”). Under the 2010 PolyHeal Agreement, PolyHeal granted the Company an exclusive global license to manufacture, develop and commercialize all the Polyheal Products in consideration for royalty payments. Concurrently, the Company granted Teva an exclusive global sub license to commercialize the Polyheal Products in consideration for certain royalties and milestone payments. In addition, Teva undertook to finance the Company's future development of the Polyheal Product and all of its manufacturing costs. Under the 2010 PolyHeal Agreement, Teva initially invested $ 6,750 in the Company, and undertook to invest an additional $ 6,750 in the Company subject to the achievement of a development milestone. Concurrent with Teva's investment in the Company, the Company purchased shares of PolyHeal for total consideration of $ 6,750. Additionally, the Company undertook to purchase additional shares of PolyHeal for the same amount, subject to the achievement of the same abovementioned development milestone.

The Company has accounted this transaction as an acquisition of a group of assets since the assets acquired did not constitute a business as defined in IFRS 3. The Company allocated the consideration paid for the group of assets acquired based on their fair value to two identifiable assets: the license for the Polyheal Products in the amount of $ 6,333 and royalty rights arising from the Company's ownership of shares of PolyHeal in the amount of $ 417.

Following the termination of the Company's collaborations with Teva under the 2010 PolyHeal, the Company's exclusive license for the PolyHeal Product expired in September 2013. As a result of the expiration of the PolyHeal license, the Company accounted for the operation related to PolyHeal as a discontinued operation in accordance with IFRS accounting standard 5, “Non-current Assets Held for Sale and Discontinued Operations" and the Company has fully impaired the license for the PolyHeal Product.

The Company has been acknowledged during 2015 about certain changes in circumstances indicating that the carrying amount of its royalty rights arising from the Company's ownership of shares of Polyheal would not be recoverable. Accordingly, a full impairment of these royalty rights amounting to $417 is included within the loss from discontinued operation for the year ended December 31, 2015.

On November 15, 2012, the Company informed Teva of the commencement of a feasibility study for the next generation of the PolyHeal Product, which constituted a milestone under the 2010 PolyHeal Agreement. In accordance with the terms of the agreement, Upon achievement of this milestone, Teva was to invest an additional $ 6,750 in exchange of the Company's ordinary shares and the Company was to purchase, following and pending the consummation of this investment, for an identical amount, ordinary shares of PolyHeal from its existing shareholders. The Company has not received the milestone investment from Teva.

On September 15, 2014, a Statement of Claim was filed against the Company by some shareholders of Polyheal and on November 12, 2017, the Tel Aviv District Court issued its ruling. On December 27, 2017 the Company filed an appeal and a hearing will be held on January 2019 (see also Note 15f).

During December 2017, the Company paid approximately $1,497 in consideration for PolyHeal's shares. Since the Company believes that the carrying amount of its royalty rights arising from the Company's ownership of shares of Polyheal would not be recoverable, a full impairment of these royalty rights is included within the loss from discontinued operation for the year ended December 31, 2017. In addition, the Company born legal expenses totaled $116.

As of December 31, 2017, a provision totaled $6,003 which represents the purchase price for the residual number of shares that the 2010 PolyHeal Agreements contemplate would be acquired by the Company from the shareholders of PolyHeal plus accrued interest.

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST

12 Months Ended

Dec. 31, 2017

Disclosure of supplementary information to the statements of profit and lost and other comprehensive loss [Abstract]

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF PROFIT AND LOST AND OTHER COMPREHENSIVE LOSS

NOTE 20:-

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST

a. Cost of revenues:

	Year ended December 31,
	2015			2016			2017

Salary and benefits (including share-based compensation)		1,961			2,112			2,073
Subcontractors		67			66			121
Depreciation and amortization		417			475			457
Cost of materials		486			410			535
Other manufacturing expenses		657			892			989
Decrease (increase) in inventory of finished products		(309	)		780			(999	)
Allotment of manufacturing costs to R&D		(760	)		(2,577	)		(1,598	)

		2,519			2,158			1,578

Research and development expenses, net of participations:

	Year ended December 31,
	2015			2016			2017

Salary and benefits (including share-based compensation)		2,610			3,171			3,840
Subcontractors		4,464			8,517			8,780
Depreciation and amortization		5			28			42
Cost of materials		81			351			223
Allotment of manufacturing costs		760			2,577			1,598
Other research and development expenses		219			135			142

Research and development, gross		8,139			14,779			14,625

Participations:
BARDA funds		(800	)		(5,566	)		(8,565	)
Revaluation of liabilities in respect of IIA grants		(1,318	)		(2,145	)		(598	)

		6,021			7,068			5,462

Selling and marketing expenses:

	Year ended December 31,
	2015		2016		2017

Salary and benefits (including share based compensation)		5,631		5,438		3,062
Marketing and medical support		2,835		2,444		1,628
Depreciation and amortization		22		18		12
Shipping and delivery		180		111		236
Registration and marketing license fees		616		392		424

		9,284		8,403		5,362

General and administrative expenses:

	Year ended December 31,
	2015		2016		2017
Salary and benefits (including share‑based compensation)		2,670		2,361		2,032
Professional fees		1,054		1,241		1,224
Depreciation and amortization		59		66		56
Other		221		416		469

		4,004		4,084		3,781

Financial income and expense:

	Year ended December 31,
	2015		2016		2017
Financial income:
Interest income		288		414		349
Revaluation of contingent consideration for the purchase of shares		764		1,621		-
Exchange differences, net		-		131		57

		1,052		2,166		406
Financial expense:
Interest in respect of IIA grants		844		847		827
Revaluation of contingent consideration for the purchase of shares		-		-		351
Exchange differences, net		614		-		-
Other		38		49		74

		1,496		896		1,252

NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2017

Earnings per share [abstract]

NET LOSS PER SHARE

NOTE 21:-

NET LOSS PER SHARE

Details of the number of shares and loss used in the computation of loss per share from continuing operations:

	Year ended December 31,
	2015					2016					2017
	Weighted average number of shares		Loss			Weighted average number of shares		Loss			Weighted average number of shares		Loss

Basic and diluted loss		21,718,401		(21,671	)		21,862,169		(18,885	)		23,341,040		(14,533	)

Details of the number of shares and loss used in the computation of loss per share from discontinued operation:

	Year ended December 31,
	2015					2016				2017
	Weighted average number of shares		Loss			Weighted average number of shares		Loss		Weighted average number of shares		Loss

Basic and diluted loss		21,718,401		(417	)		-		-		23,341,040		(7,616	)

c. Net loss per share from continuing and discontinued operations:

	Year ended December 31,
	2015			2016			2017
Basic and Diluted loss per share:
Net loss from continuing operations		(1.00	)		(0.86	)		(0.62	)

Loss from discontinued operation		(0.02	)		-			(0.33	)

Net loss per share		(1.02	)		(0.86	)		(0.95	)

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS

12 Months Ended

Dec. 31, 2017

Disclosure of transactions between related parties [abstract]

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND OFFICERS

NOTE 22:-

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS

Related parties consist of:

•

Clal Biotechnologies Industries Ltd.-the Parent Company.

•

PolyHeal-in which the Company holds approximately 8% (see Note 19).

•

Directors of the Company.

Balances of related parties:


	Payables
Parent Company (1):

As of December 31, 2016		218
As of December 31, 2017		238

Other related parties:

As of December 31, 2016		77
As of December 31, 2017		86

(1)

The Company leases office space and a production facility from the Parent Company in accordance with a sublease agreement (see Note 15 (g)).

Transactions with related parties:

	Professional Fee (1)		Rent expenses
Parent company:
2015		52		730
2016		27		804
2017		35		817

Other related parties:
2015		127		-
2016		159		-
2017		225		-

(1)

Professional fees do not include short-term employee benefits and share-based compensation to one of the Company's shareholders, who is a key officer, in the amounts of $691, $537 and $516 for the years 2015, 2016 and 2017, respectively, as well as payment for the purchasing of a patent in amount of $30, $30 and $30 for the years 2015, 2016 and 2017, respectively (see note 15c).

Compensation of officers of the Company:

The following amounts disclosed in the table are recognized as an expense during the reporting period related to officers:

	Year ended December 31,
	2015		2016		2017

Short-term employee benefits		2,639		2,108		2,324
Share-based compensation		1,702		1,445		731

		4,341		3,553		3,055

Number of officers		7		7		6

In December 2007, the Company's board of directors approved one‑time bonus payments to the Chief Executive Officer and Chief Medical Officer in the amounts of $ 120 each, to be paid upon achieving marketing approval in the United States.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2017

Disclosure of significant accounting policies [Abstract]

Basis of presentation of financial statements

a.	Basis of presentation of financial statements:

These financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

The Company's consolidated financial statements have been prepared on a cost basis, except for financial instruments which are measured at fair value through profit or loss.

The Company's operating cycle is one year.

Functional currency, reporting currency and foreign currency

d.	Functional currency, reporting currency and foreign currency:

Functional currency and reporting currency:

The reporting currency of the financial statements is the U.S. dollar.

Transactions, assets and liabilities in foreign currency:

Cash equivalents

e.	Cash equivalents:

Cash equivalents are considered as highly liquid investments, including unrestricted short‑term bank deposits with an original maturity of three months or less from the date of deposit.

Short-term bank deposits

f.	Short-term bank deposits:

Short-term bank deposits have a maturity of more than three months, but less than one year, from the deposit date.

Inventories

g.	Inventories:

Cost of inventories is determined as follows:

Raw materials	-	At cost of purchase using the first-in, first-out method.

Finished goods	-	On the basis of average costs including materials, labor and other direct and indirect manufacturing costs based on practical capacity.

Participation by governments support

h.	Participation by governments support:

(i) Israeli Innovation Authority grants:

Government grants are recognized when there is reasonable assurance that the grants will be received and the Company will comply with the attendant conditions.

(ii) Funding by BARDA:

Leases

Leases:

Operating leases:

Property, plant and equipment, net

j.	Property, plant and equipment, net:

Depreciation is calculated on a straight‑line basis over the useful life of the assets at annual rates as follows:

		%
Office furniture		6 - 15
Electronic machinery and laboratory equipment		15 - 20
Computers		33
Leasehold improvements		See below

Intangible assets, net

k.	Intangible assets, net:

Separately acquired intangible assets with finite useful life are measured on initial recognition at cost.

Revenue recognition

l.	Revenue recognition

Deferred revenues include unearned amounts received from customers not yet recognized as revenues.

Research and development expenses

m.	Research and development expenses:

Impairment of non-financial assets

n.	Impairment of non-financial assets:

Financial instruments

o.	Financial instruments:

Financial assets:

After initial recognition, the accounting treatment of financial assets is based on their classification as follows:

Receivable:

The Company has receivables that are financial assets with fixed or determinable payments that are not quoted in an active market.

Financial liabilities:

Financial liabilities within the scope of IAS 39 are initially measured at fair value.

After initial recognition, the accounting treatment of financial liabilities is based on their classification as follows:

Financial liabilities measured at amortized cost:

Loans and other contingent liabilities are measured at amortized cost using the effective interest method taking into account directly attributable transaction costs.

Fair value:

Offsetting financial instruments:

5. Classification of financial instruments by fair value hierarchy:

Level 1	-	quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2	-	inputs other than quoted prices included within level 1 that are observable either directly or indirectly.

Level 3	-	inputs that are not based on observable market data (valuation techniques which use inputs that are not based on observable market data).

De-recognition of financial instruments:

Financial assets:

Financial liabilities:

Contingent consideration for purchase of shares:

The contingent consideration liability for purchase of shares is measured at fair value and initially recorded against equity. Subsequent changes in the fair value are recognized in profit or loss.

Provisions

p.	Provisions:

Short-term employee benefits and severance pay liability, net

q.	Short-term employee benefits and severance pay liability, net:

The Company has several employee benefit plans:

Short-term employee benefits:

Post-employment benefits:

The Company has liabilities for severance pay for its employees in several of EU jurisdictions and in Israel.

Contributions to the defined contribution plan in respect of severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee's services.

Share-based compensation

r.	Share-based compensation:

Certain Company employees and directors are entitled to remuneration in the form of equity-settled share-based compensation.

Equity-settled transactions

Discontinued operation

s.	Discontinued operation:

Loss per share

t.	Loss per share:

Furthermore, potential ordinary shares converted during the period are included in diluted loss per share only until the conversion date and from that date in basic loss per share.

Reclassification

u.	Reclassification:

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of significant accounting policies [Abstract]

Schedule of Depreciation on Straight-line Basis Over Useful Life of Assets

Depreciation is calculated on a straight‑line basis over the useful life of the assets at annual rates as follows:

		%
Office furniture		6 - 15
Electronic machinery and laboratory equipment		15 - 20
Computers		33
Leasehold improvements		See below

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2017

Cash and cash equivalents [abstract]

Schedule of Cash and Cash Equivalents

	December 31,
	2016		2017

USD cash for immediate withdrawal		25,863		26,700
Non-USD cash for immediate withdrawal		3,003		9,369

		28,866		36,069

SHORT-TERM BANK DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of short-term bank deposits [Abstract]

Schedule of Short-Term Bank Deposits

	December 31,
	2016		2017

USD bank deposits		1,163		-

		1,163		-

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2017

Classes of current inventories [abstract]

Schedule of Inventories

	Year ended December 31,
	2016		2017

Raw materials		296		339
Finished goods		548		1,547

		844		1,886

OTHER RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2017

Trade and other current receivables [abstract]

Schedule of Other Receivables

	Year ended December 31,
	2016		2017

Government authorities		61		226
BARDA funds		953		2,175
Prepaid expenses and other		224		129
Former shareholder, net (see Note 15d)		1,169		666

		2,407		3,196

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about property, plant and equipment [abstract]

Schedule of Property, Plant and Equipment, Net

Balance as of December 31, 2017:

	Office furniture		Electronic machinery and laboratory equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2017		227		2,551		185			2,120		5,083
Disposals		-		-		(74	)		-		(74	)
Additions		9		1,010		26			-		1,045
Foreign currency translation		12		-		2			-		14

Balance as of December 31, 2017		248		3,561		139			2,120		6,068

Accumulated Depreciation

Balance as of January 1, 2017		126		1,508		118			2,057		3,809
Disposals		-		-		(74	)		-		(74	)
Additions		20		294		47			38		399
Foreign currency translation		8		-		2			-		10

Balance as of December 31, 2017		154		1,802		93			2,095		4,144

Depreciated cost as of December 31, 2017		94		1,759		46			25		1,924

Balance as of December 31, 2016:

	Office furniture			Electronic machinery and laboratory equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2016		221			1,955		174			2,095		4,445
Disposals		-			-		(27	)		-		(27	)
Additions		12			596		38			25		671
Foreign currency translation		(6	)		-		-			-		(6	)

Balance as of December 31, 2016		227			2,551		185			2,120		5,083

Accumulated Depreciation

Balance as of January 1, 2016		102			1,205		86			2,012		3,405
Disposals		-			-		(27	)		-		(27	)
Additions		27			303		59			47		436
Foreign currency translation		(7	)		-		-			-		(7	)

Balance as of December 31, 2016		122			1,508		118			2,059		3,807

Depreciated cost as of December 31, 2016		105			1,043		67			61		1,276

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about intangible assets [abstract]

Schedule of Intangible Assets, Net

Balance as of December 31, 2017

	License and Knowhow
Cost
Balance as of January 1, 2017		1,496
Additions		30
Balance as of December 31, 2017		1,526

Accumulated Amortization
Balance as of January 1, 2017		723
Additions		168
Balance as of December 31, 2017		891

Amortized cost
Balance as of December 31, 2017		635

Balance as of December 31, 2016

	License and Knowhow
Cost
Balance as of January 1, 2016		1,466
Additions		30
Balance as of December 31, 2016		1,496

Accumulated Amortization
Balance as of January 1, 2016		570
Additions		153
Balance as of December 31, 2016		723

Amortized cost
Balance as of December 31, 2016		773

OTHER PAYABLES (Tables)

12 Months Ended

Dec. 31, 2017

Trade and other payables [abstract]

Schedule of Other Payables

	Year ended December 31,
	2016		2017

Employees and payroll accruals		1,566		1,621
Current maturities of IIA grants		49		57
Related parties		295		324
Deferred revenues		122		131
Other		28		49

		2,060		2,182

LIABILITIES IN RESPECT OF IIA GRANTS (Tables)

12 Months Ended

Dec. 31, 2017

Liabilities In Respect Of Iia Grants Schedule Of Israeli Innovation Authority Grants Details

Schedule of Israeli Innovation Authority Grants

	Year ended December 31,
	2016			2017

Balance as of January 1		7,303			6,888
Grants received		929			401
Royalties		(46	)		(81	)
Amounts carried to Profit or Loss		(1,298	)		229

Balance as of Decmber 31		6,888			7,437

Current maturities		(49	)		(57	)

Long term liabilities in respect of IIA grants		6,839			7,380

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about financial instruments [abstract]

Schedule of Sensitivity Tests Relating to Changes in Market Factors

	December 31,
	2015			2016			2017

Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change:
5% increase in exchange rate	$	361		$	11		$	346
5% decrease in exchange rate	$	(361	)	$	(11	)	$	(346	)

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of contingent liabilities [abstract]

Schedule of Minimum Future Lease Fees

Minimum future lease fees for both agreements as of December 31, 2017 are as follows:

2018			522
2019			450
2020			296
2021			246
2022			205
			1,719

EQUITY (Tables)

12 Months Ended

Dec. 31, 2017

Equity Tables

Schedule of Share Capital

	Year ended December 31,
	2016		2017

Authorized number of shares		32,244,508		32,244,508

Issued and outstanding number of shares		21,930,449		27,047,737

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Schedule of Expense Recognized

The expenses that was recognized for services received from employees and directors is as follows:

	Year ended December 31,
	2015		2016		2017

Cost of revenues		372		504		188
Research and development		511		752		488
Selling and marketing		669		765		204
General and administrative		1,107		1,150		483

Total share-based compensation		2,659		3,171		1,363

Schedule of Share Options Activity

The following table lists the number of share options, the weighted average exercise prices of share options and changes that were made in the option plan to employees and directors:

	2015					2016					2017
	Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price


Outstanding at beginning of year		1,902,324			7.98		2,313,224			9.35		2,181,075			9.62
Granted		739,500			9.27		47,500			8.56		40,000			6.72
Exercised		(300,000	)		0.09		(80,149	)		0.09		(79,624	)		0.09
Forfeited		(28,600	)		12.69		(99,500	)		10.80		(206,716	)		8.93

Outstanding at end of year		2,313,224			9.35		2,181,075			9.62		1,934,735			10.02

Exercisable at end of year		1,535,055			9.39		1,401,866			9.35		1,562,235			10.25

Schedule of Information About Share Options Outstanding

The following table summarizes information about share options outstanding as of December 31, 2017:

	Options outstanding as of December 31, 2017
Range of exercise prices ($ )	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

2.63		208,332		0.86		2.63
7.26 ‑ 9.82		903,703		6.49		9.06
12.89 ‑ 13.76		822,700		5.92		12.94

Total		1,934,735		5.64		10.02

Schedule of Estimated Using Acceptable Option Pricing Models

	December 31,
	2015		2016		2017

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		71		72		63
Risk‑free interest rate (%)		0.25-2.24		0.28-2.0		1.22-2.15
Early exercise factor (%)		100-150		100-150		150
Weighted average share prices (Dollar)		8.98		8.56		7.80

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of supplementary information to the statements of profit and lost and other comprehensive loss [Abstract]

Schedule of Cost of Revenues

Cost of revenues:

	Year ended December 31,
	2015			2016			2017

Salary and benefits (including share-based compensation)		1,961			2,112			2,073
Subcontractors		67			66			121
Depreciation and amortization		417			475			457
Cost of materials		486			410			535
Other manufacturing expenses		657			892			989
Decrease (increase) in inventory of finished products		(309	)		780			(999	)
Allotment of manufacturing costs to R&D		(760	)		(2,577	)		(1,598	)

		2,519			2,158			1,578

Schedule of Research Expenses

Research and development expenses, net of participations:

	Year ended December 31,
	2015			2016			2017

Salary and benefits (including share-based compensation)		2,610			3,171			3,840
Subcontractors		4,464			8,517			8,780
Depreciation and amortization		5			28			42
Cost of materials		81			351			223
Allotment of manufacturing costs		760			2,577			1,598
Other research and development expenses		219			135			142

Research and development, gross		8,139			14,779			14,625

Participations:
BARDA funds		(800	)		(5,566	)		(8,565	)
Revaluation of liabilities in respect of IIA grants		(1,318	)		(2,145	)		(598	)

		6,021			7,068			5,462

Schedule of Selling Expenses

Selling and marketing expenses:

	Year ended December 31,
	2015		2016		2017

Salary and benefits (including share based compensation)		5,631		5,438		3,062
Marketing and medical support		2,835		2,444		1,628
Depreciation and amortization		22		18		12
Shipping and delivery		180		111		236
Registration and marketing license fees		616		392		424

		9,284		8,403		5,362

Schedule of General Expenses

General and administrative expenses:

	Year ended December 31,
	2015		2016		2017
Salary and benefits (including share‑based compensation)		2,670		2,361		2,032
Professional fees		1,054		1,241		1,224
Depreciation and amortization		59		66		56
Other		221		416		469

		4,004		4,084		3,781

Schedule of Financial Expense

Financial income and expense:

	Year ended December 31,
	2015		2016		2017
Financial income:
Interest income		288		414		349
Revaluation of contingent consideration for the purchase of shares		764		1,621		-
Exchange differences, net		-		131		57

		1,052		2,166		406
Financial expense:
Interest in respect of IIA grants		844		847		827
Revaluation of contingent consideration for the purchase of shares		-		-		351
Exchange differences, net		614		-		-
Other		38		49		74

		1,496		896		1,252

NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2017

Earnings per share [abstract]

Schedule of Details of Number of Shares and Loss Used in Computation

Details of the number of shares and loss used in the computation of loss per share from continuing operations:

	Year ended December 31,
	2015					2016					2017
	Weighted average number of shares		Loss			Weighted average number of shares		Loss			Weighted average number of shares		Loss

Basic and diluted loss		21,718,401		(21,671	)		21,862,169		(18,885	)		23,341,040		(14,533	)

Details of the number of shares and loss used in the computation of loss per share from discontinued operation:

	Year ended December 31,
	2015					2016				2017
	Weighted average number of shares		Loss			Weighted average number of shares		Loss		Weighted average number of shares		Loss

Basic and diluted loss		21,718,401		(417	)		-		-		23,341,040		(7,616	)

Schedule of Net Loss Per Share from Continuing and Discontinued Operations

Net loss per share from continuing and discontinued operations:

	Year ended December 31,
	2015			2016			2017
Basic and Diluted loss per share:
Net loss from continuing operations		(1.00	)		(0.86	)		(0.62	)

Loss from discontinued operation		(0.02	)		-			(0.33	)

Net loss per share		(1.02	)		(0.86	)		(0.95	)

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of transactions between related parties [abstract]

Schedule of Balances of Related Parties

Balances of related parties:


	Payables
Parent Company (1):

As of December 31, 2016		218
As of December 31, 2017		238

Other related parties:

As of December 31, 2016		77
As of December 31, 2017		86

Schedule of Transactions with Related Parties

Transactions with related parties:

	Professional Fee (1)		Rent expenses
Parent company:
2015		52		730
2016		27		804
2017		35		817

Other related parties:
2015		127		-
2016		159		-
2017		225		-

Schedule of Compensation of Officers of Company

The following amounts disclosed in the table are recognized as an expense during the reporting period related to officers:

	Year ended December 31,
	2015		2016		2017

Short-term employee benefits		2,639		2,108		2,324
Share-based compensation		1,702		1,445		731

		4,341		3,553		3,055

Number of officers		7		7		6

GENERAL (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
GENERAL (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2017	Sep. 21, 2017	Dec. 31, 2016
Disclosure of associates [line items]
Shares issued in initial public offering		27,047,737	5,037,664	21,930,449
Gross proceeds from initial public offering	$ 22,658
PolyHeal Ltd. [Member]
Disclosure of associates [line items]
Ownership percentage		8.00%

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Depreciation on Straight-line Basis Over Useful Life of Assets) (Details)	12 Months Ended
	Dec. 31, 2017
Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of assets at annual rates (in %)	6 - 15
Electronic machinery and laboratory equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of assets at annual rates (in %)	15 - 20
Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of assets at annual rates (in %)	33
Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of assets at annual rates (in %)	Leasehold improvements are depreciated on a straight-line basis over the shorter of the lease term (including the renewal option held by the Company which is expected to be exercised) and the expected life of the improvement.

DISCLOSURE OF NEW STANDARDS IN THE PERIOD PRIOR TO THEIR ADOPTION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Disclosure of expected impact of initial application of new standards or interpretations [abstract]
Increase of deferred revenues	$ 249
Increase of accumulated deficit	$ 249

CASH AND CASH EQUIVALENTS (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash and cash equivalents [abstract]
USD cash for immediate withdrawal	$ 26,700	$ 25,863
Non-USD cash for immediate withdrawal	9,369	3,003
Cash and cash equivalents	$ 36,069	$ 28,866	$ 42,502	$ 25,422

SHORT-TERM BANK DEPOSITS (Narrative) (Details)	12 Months Ended
SHORT-TERM BANK DEPOSITS (Narrative) (Details)	Dec. 31, 2016
Disclosure of financial instruments by type of interest rate [line items]
Period of bank deposits	181 days
Fixed interest rate [member] \| USD [member]
Disclosure of financial instruments by type of interest rate [line items]
Deposit interest rate	1.30%

SHORT-TERM BANK DEPOSITS (Schedule of Short-Term Bank Deposits) (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of short-term bank deposits [Abstract]
USD bank deposits		$ 1,163
Short-term bank deposits		$ 1,163

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Classes of current inventories [abstract]
Raw materials	$ 339	$ 296
Finished goods	1,547	548
Inventories	$ 1,886	$ 844

OTHER RECEIVABLES (Schedule of Other Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Trade and other current receivables [abstract]
Government authorities	$ 226	$ 61
BARDA funds	2,175	953
Prepaid expenses and other	129	224
Former shareholder, net (see Note 15)	666	1,169
Other receivables	$ 3,196	$ 2,407

PROPERTY, PLANT AND EQUIPMENT, NET (Schedule of Property, Plant and Equipment, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [line items]
Balance	$ 1,276
Balance	1,924	$ 1,276
Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	5,083	4,445
Disposals	(74)	(27)
Additions	1,045	671
Foreign currency translation	14	(6)
Balance	6,068	5,083
Cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	227	221
Disposals
Additions	9	12
Foreign currency translation	12	(6)
Balance	248	227
Cost [Member] \| Electronic machinery and laboratory equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,551	1,955
Disposals
Additions	1,010	596
Foreign currency translation
Balance	3,561	2,551
Cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	185	174
Disposals	(74)	(27)
Additions	26	38
Foreign currency translation	2
Balance	139	185
Cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,120	2,095
Disposals
Additions		25
Foreign currency translation
Balance	2,120	2,120
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	3,807	3,405
Disposals	(74)	(27)
Additions	399	436
Foreign currency translation	10	(7)
Balance	4,144	3,807
Accumulated Depreciation [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	122	102
Disposals
Additions	20	27
Foreign currency translation	8	(7)
Balance	154	122
Accumulated Depreciation [Member] \| Electronic machinery and laboratory equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,508	1,205
Disposals
Additions	294	303
Foreign currency translation
Balance	1,802	1,508
Accumulated Depreciation [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	118	86
Disposals	(74)	(27)
Additions	47	59
Foreign currency translation	2
Balance	93	118
Accumulated Depreciation [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,059	2,012
Disposals
Additions	38	47
Foreign currency translation
Balance	2,095	2,059
Depreciated cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,276
Balance	1,924	1,276
Depreciated cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	105
Balance	94	105
Depreciated cost [Member] \| Electronic machinery and laboratory equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,043
Balance	1,759	1,043
Depreciated cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	67
Balance	46	67
Depreciated cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	61
Balance	$ 25	$ 61

INTANGIBLE ASSETS, NET (Schedule of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about intangible assets [line items]
Balance	$ 773
Balance	635	$ 773
Cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	1,496	1,466
Additions	30	30
Balance	1,526	1,496
Accumulated Amortization [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	723	570
Additions	168	153
Balance	891	723
Amortized cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	723
Balance	$ 635	$ 723

OTHER PAYABLES (Schedule of Other Payables) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Trade and other payables [abstract]
Employees and payroll accruals	$ 1,621	$ 1,566
Current maturities of IIA grants	57	49
Related parties	324	295
Deferred revenues	131	122
Other	49	28
Other payables	$ 2,182	$ 2,060

LIABILITIES IN RESPECT OF IIA GRANTS (Narrative) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Liabilities In Respect Of Iia Grants Schedule Of Israeli Innovation Authority Grants Details
Grants received net of royalties	$ 13,356
Amortized cost of grants received	$ 7,437

LIABILITIES IN RESPECT OF IIA GRANTS (Schedule of Israeli Innovation Authority Grants) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Liabilities In Respect Of Iia Grants Schedule Of Israeli Innovation Authority Grants Details
Balance as of January 1	$ 6,888	$ 7,303
Grants received	401	929
Royalties	(81)	(46)
Amounts carried to Profit or Loss	229	(1,298)	$ (474)
Balance as of Decmber 31	7,437	6,888	$ 7,303
Current maturities	(57)	(49)
Long term liabilities in respect of IIA grants	$ 7,380	$ 6,839

FINANCIAL INSTRUMENTS (Narrative) (Details)	Dec. 31, 2017
Interest rate for a loan [Member]
Disclosure of detailed information about financial instruments [line items]
Discount rate	12.00%
Future royalty payments [Member]
Disclosure of detailed information about financial instruments [line items]
Discount rate	16.00%

FINANCIAL INSTRUMENTS (Schedule of Sensitivity Tests Relating to Changes in Market Factors) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ 185	$ 94	$ (69)
5% increase in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	346	11	361
5% decrease in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ (346)	$ (11)	$ (361)

SEVERANCE PAY LIABILTY, NET (Details)	12 Months Ended
SEVERANCE PAY LIABILTY, NET (Details)	Dec. 31, 2017
Disclosure of defined benefit plans [abstract]
Percentage of monthly deposit by employee of their monthly salary in defined contribution plans	8.33%

CONTINGENT LIABILITIES AND COMMITMENTS (Narrative) (Details) € in Thousands, ₪ in Thousands, $ in Thousands		1 Months Ended			12 Months Ended
	Sep. 02, 2013 USD ($) shares	Dec. 27, 2017	Jul. 19, 2017 USD ($)	Nov. 24, 2010 USD ($)	Dec. 31, 2017 USD ($) ft² Vehicles	Dec. 31, 2017 EUR (€) ft² Vehicles	Dec. 31, 2017 ILS (₪) ft² Vehicles	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Nov. 12, 2017 USD ($)	Sep. 15, 2014 USD ($)	Jan. 15, 2013 USD ($)
Disclosure of finance lease and operating lease by lessee [line items]
Royalty payments					$ (81)			$ (46)
One-time payment to purchase patents					$ 30			30	$ 30
Claim amount filed by shareholders of Polyheal										$ 6,750	$ 1,475	$ 1,500
Percentage of agreement to purchase Polyheal's shares		7.50%
Subleases, area \| ft²					1,860	1,860	1,860
Subleases, monthly rent					$ 18
Subleases, expiration date					October 2022	October 2022	October 2022
Number of vehicles in operating lease arrangements \| Vehicles					18	18	18
Period of vehicles operating lease arrangements					three years	three years	three years
Deposit in vehicles operating leases					$ 46
Contingent consideration for the purchase of shares					14,381			14,533
Revaluation of contingent consideration for the purchase of shares								1,621	764
Provision for shares purchase price accrued interest					7,500
NexoBrid [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Funding amount			$ 56,000
Procurement amount			16,000
Additional funding amount			10,000
Additional procurement amount			$ 50,000
BARDA [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Funding amount					14,931
NIS [member]
Disclosure of finance lease and operating lease by lessee [line items]
Subleases, monthly rent \| ₪							₪ 71,000
Patents [Member]
Disclosure of finance lease and operating lease by lessee [line items]
One-time payment to purchase patents					30			30	30
Third party [Member] \| Patents and intellectual property [Member]
Disclosure of finance lease and operating lease by lessee [line items]
License costs					$ 950
Percentage of royalties to pay for future revenues from sales of products					1.5% to 2.5%	1.5% to 2.5%	1.5% to 2.5%
Period of royalties to pay for future revenues from sales of products					10 to 15 years	10 to 15 years	10 to 15 years
One-time lump-sum amount					$ 1,500
Aggregate revenues					100,000
Royalty payments					$ 48			$ 57	$ 11
Third party [Member] \| Patents and intellectual property [Member] \| Sub-licensing of patents [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Percentage of royalties to pay for future revenues from sales of products					10% - 20%	10% - 20%	10% - 20%
R&D Law [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Percentage of royalties to pay for future revenues from sales of products					3%	3%	3%
Royalty payments					$ 13,356
Maximum aggregate royalties paid in percentage					100.00%	100.00%	100.00%
Interest rate					12-month LIBOR	12-month LIBOR	12-month LIBOR
Shareholder [Member] \| Patents [Member]
Disclosure of finance lease and operating lease by lessee [line items]
One-time payment to purchase patents				$ 88
Fixed payments to purchase patents annual				$ 30
Expiration period of patents				May 2018
Outstanding obligation					$ 13
Teva [Member] \| Ordinary shares [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Number of shares repurchased \| shares	755,492
Percentage of future royalty payments	20.00%
NexoBrid [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Revenues from sale or license	$ 30,600
Polyheal [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Revenues from sale or license	$ 10,800
Amount of plaintiffs conderation					1,497
Legal expense					116
Subsidiary [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Subleases, monthly rent					$ 3
Subleases, expiration date					April 30, 2019	April 30, 2019	April 30, 2019
Subsidiary [Member] \| EUR [member]
Disclosure of finance lease and operating lease by lessee [line items]
Subleases, monthly rent \| €						€ 2,800

CONTINGENT LIABILITIES AND COMMITMENTS (Schedule of Minimum Future Lease Fees) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	$ 1,719
2018 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	522
2019 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	450
2020 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	296
2021 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	246
2022 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	$ 205

EQUITY (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 29, 2017 USD ($) shares	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2017 ₪ / shares shares	Sep. 21, 2017 $ / shares shares	Dec. 31, 2016 ₪ / shares shares
Disclosure of classes of share capital [line items]
Shares issued in initial public offering					27,047,737	5,037,664	21,930,449
Shares issued price per share in public offering \| ₪ / shares					₪ 0.01		₪ 0.01
Proceeds from initial public offering \| $		$ 22,658
Ordinary shares [Member]
Disclosure of classes of share capital [line items]
Shares issued in initial public offering						4,400,000
Shares issued price per share in public offering \| $ / shares						$ 5.00
Shares issued to underwriters option to purchase	637,664
Proceeds from initial public offering \| $	$ 22,658

EQUITY (Schedule of Share Capital) (Details) - shares	Dec. 31, 2017	Sep. 21, 2017	Dec. 31, 2016
Disclosure of classes of share capital [abstract]
Authorized number of shares	32,244,508		32,244,508
Issued and outstanding number of shares	27,047,737	5,037,664	21,930,449

SHARE-BASED COMPENSATION (Narrative) (Details)	1 Months Ended			12 Months Ended
SHARE-BASED COMPENSATION (Narrative) (Details)	Jun. 22, 2017 USD ($) shares	Dec. 23, 2015 USD ($) shares	Mar. 31, 2014	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($)	Jun. 09, 2016 USD ($)	Dec. 31, 2015 USD ($)
Employees and directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Shares reserved for issuance stock options \| shares				3,229,386
Shares available for future grant \| shares				1,294,651
Fair value of options granted				$ 172,000	$ 193,000		$ 4,336,000
Employees and directors [Member] \| 2003 Israeli Share Option Plan ("Plan") [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercisable period				10 years
Vesting period				three or four years
Employees and directors [Member] \| 2014 Equity Incentive Plan (the "2014 Plan") [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercisable period			10 years
Vesting period			three or four years
CEO [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted						$ 39,000
Shares granted for options to purchase ordinary shares \| shares		70,000
Shares granted for options to purchase ordinary shares, exercise price		$ 9.58
Directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted	$ 172,000
Shares granted for options to purchase ordinary shares \| shares	40,000
Shares granted for options to purchase ordinary shares, exercise price	$ 6.72

SHARE-BASED COMPENSATION (Schedule of Expense Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 1,363	$ 3,171	$ 2,659
Cost of revenues [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	188	504	372
Research and development [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	488	752	511
Selling and marketing [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	204	765	669
General and administrative [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 483	$ 1,150	$ 1,107

SHARE-BASED COMPENSATION (Schedule of Share Options Activity) (Details)	12 Months Ended
	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares
Number of Options
Outstanding at beginning of year \| shares	2,181,075	2,313,224	1,902,324
Granted \| shares	40,000	47,500	739,500
Exercised \| shares	(79,624)	(80,149)	(300,000)
Forfeited \| shares	(206,716)	(99,500)	(28,600)
Outstanding at end of year \| shares	1,934,735	2,181,075	2,313,224
Exercisable at end of year \| shares	1,562,235	1,401,866	1,535,055
Weighted Average Exercise Price
Outstanding at beginning of year \| $	$ 9.62	$ 9.35	$ 7.98
Granted \| $	6.72	8.56	9.27
Exercised \| $	0.09	0.09	0.09
Forfeited \| $	8.93	10.8	12.69
Outstanding at end of year \| $	10.02	9.62	9.35
Exercisable at end of year \| $	$ 10.25	$ 9.35	$ 9.39

SHARE-BASED COMPENSATION (Schedule of Information About Share Options Outstanding) (Details)	Dec. 31, 2017 USD ($) shares Years	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares	Dec. 31, 2014 USD ($) shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	1,934,735	2,181,075	2,313,224	1,902,324
Weighted Average Remaining contractual life \| Years	5.64
Weighted average exercise price \| $	$ 10.02	$ 9.62	$ 9.35	$ 7.98
2.63 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	208,332
Weighted Average Remaining contractual life \| Years	0.86
Weighted average exercise price \| $	$ 2.63
7.26 - 9.82 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	903,703
Weighted Average Remaining contractual life \| Years	6.49
Weighted average exercise price \| $	$ 9.06
12.89 - 13.76 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	822,700
Weighted Average Remaining contractual life \| Years	5.92
Weighted average exercise price \| $	$ 12.94

SHARE-BASED COMPENSATION (Schedule of Estimated Using Acceptable Option Pricing Models) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dividend yield (%)	0.00%	0.00%	0.00%
Expected volatility of the share prices (%)	63.00%	72.00%	71.00%
Early exercise factor (%)	150.00%
Weighted average share prices (Dollar)	$ 7.8	$ 8.56	$ 8.98
Bottom of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Risk-free interest rate (%)	1.22%	0.28%	0.25%
Early exercise factor (%)		100.00%	100.00%
Top of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Risk-free interest rate (%)	2.15%	2.00%	2.24%
Early exercise factor (%)		150.00%	150.00%

TAXES ON INCOME (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
TAXES ON INCOME (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Change in tax rate	24% (instead of 25%) effective from January 1, 2017 and to 23% effective from January 1, 2018.	10%- 25%
Tax benefit period		five to eight years
Limit of benefit entitlement period		12 years
Carryforward losses		$ 115,000
Other temporary differences mainly from R&D expenses		$ 115,000
Israel [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		24.00%	25.00%	26.50%
Germany [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		30.53%	29.72%	30.00%

DISCONTINUED OPERATION (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
DISCONTINUED OPERATION (Details) - USD ($) $ in Thousands	Nov. 15, 2012	Dec. 31, 2010	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about business combination [line items]
Loss from discontinued operation			$ 7,616		$ 417
Provision for other payable on discountine operations			6,003
2010 PolyHeal Agreement [Member]
Disclosure of detailed information about business combination [line items]
Initial Investment		$ 6,750
Additional Investment		6,750
Consideration paid		6,750
License for Polyheal Products [Member]
Disclosure of detailed information about business combination [line items]
Additional Investment	$ 6,750
Consideration paid		6,333	1,497
Legal Expense			$ 116
Royalty rights arising [Member]
Disclosure of detailed information about business combination [line items]
Consideration paid		$ 417

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Cost of Revenues) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 2,073	$ 2,112	$ 1,961
Subcontractors	121	66	67
Depreciation and amortization	457	475	417
Cost of materials	535	410	486
Other manufacturing expenses	989	892	657
Decrease (increase) in inventory of finished products	(999)	780	(309)
Allotment of manufacturing costs to R&D	(1,598)	(2,577)	(760)
Cost of revenues	$ 1,578	$ 2,158	$ 2,519

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Research Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 3,840	$ 3,171	$ 2,610
Subcontractors	8,780	8,517	4,464
Depreciation and amortization	42	28	5
Cost of materials	223	351	81
Allotment of manufacturing costs	1,598	2,577	760
Other research and development expenses	142	135	219
Research and development, gross	14,625	14,779	8,139
Participations:
BARDA funds	(8,565)	(5,566)	(800)
Revaluation of liabilities in respect of IIA grants	(598)	(2,145)	(1,318)
Research and development, net of participations	$ 5,462	$ 7,068	$ 6,021

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Selling Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share based compensation)	$ 3,062	$ 5,438	$ 5,631
Marketing and medical support	1,628	2,444	2,835
Depreciation and amortization	12	18	22
Shipping and delivery	(236)	111	180
Registration and marketing license fees	424	392	616
Selling and marketing	$ 5,362	$ 8,403	$ 9,284

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of General Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 2,032	$ 2,361	$ 2,670
Professional fees	1,224	1,241	1,054
Depreciation and amortization	56	66	59
Other	469	416	221
General and administrative expenses	$ 3,781	$ 4,084	$ 4,004

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Financial Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Financial income:
Interest income	$ 349	$ 414	$ 288
Revaluation of contingent consideration for the purchase of shares		1,621	764
Exchange differences, net	57	131
Financial income	406	2,166	1,052
Financial expense:
Interest in respect of IIA grants	827	847	844
Revaluation of contingent consideration for the purchase of shares	351
Exchange differences, net			614
Other	74	49	38
Financial expense	$ 1,252	$ 896	$ 1,496

NET LOSS PER SHARE (Schedule of Details of Number of Shares and Loss Used in Computation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings per share [abstract]
Basic and diluted loss from continuing operation, Weighted average number of shares	23,341,040	21,862,169	21,718,401
Basic and diluted loss from continuing operation, Loss	$ (14,533)	$ (18,885)	$ (21,671)
Basic and diluted loss from discontinued operation, Weighted average number of shares	23,341,040		21,718,401
Basic and diluted loss from discontinued operation, Loss	$ (7,616)		$ (417)

NET LOSS PER SHARE (Schedule of Net Loss Per Share from Continuing and Discontinued Operations) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Basic and Diluted loss per share:
Net loss from continuing operations	$ (0.62)	$ (0.86)	$ (1.00)
Loss from discontinued operation	(0.33)		(0.02)
Total Basic and diluted net loss per share	$ (0.95)	$ (0.86)	$ (1.02)

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2007	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [line items]
Professional fee		$ 1,224	$ 1,241	$ 1,054
Purchasing of patent		30	30	30
Patents [Member]
Disclosure of transactions between related parties [line items]
Purchasing of patent		$ 30	30	30
Polyheal [Member]
Disclosure of transactions between related parties [line items]
Ownership percentage		8.00%
KeyOfficer [Member]
Disclosure of transactions between related parties [line items]
Professional fee		$ 516	$ 537	$ 691
Chief Executive Officer and Chief Medical Officer [Member]
Disclosure of transactions between related parties [line items]
One-time bonus payments	$ 120

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS (Schedule of Balances of Related Parties) (Details) - USD ($)
$ in Thousands

Dec. 31, 2017

Dec. 31, 2016

Parent Company [Member]

Disclosure of transactions between related parties [line items]

Payables

^[1]

$ 238

$ 218

Other related parties [Member]

Disclosure of transactions between related parties [line items]

Payables

$ 86

$ 77

[1]	The Company leases office space and a production facility from the Parent Company in accordance with a sublease agreement (see Note 15 (g)).

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS (Schedule of Transactions with Related Parties) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Disclosure of transactions between related parties [line items]

Professional Fee

$ 1,224

$ 1,241

$ 1,054

Parent Company [Member]

Disclosure of transactions between related parties [line items]

Professional Fee

^[1]

Rent expenses

817

804

730

Other related parties [Member]

Disclosure of transactions between related parties [line items]

Professional Fee

^[1]

225

159

127

Rent expenses

[1]

Professional fees do not include short-term employee benefits and share-based compensation to one of the Company's shareholders, who is a key officer, in the amounts of $691, $537 and $532 for the years 2015, 2016 and 2017, respectively, as well as payment for the purchasing of a patent in amount of $30, $30 and $30 for the years 2015, 2016 and 2017, respectively (see note 15c).

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS (Schedule of Compensation of Officers of Company) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) Officers	Dec. 31, 2016 USD ($) Officers	Dec. 31, 2015 USD ($) Officers
Disclosure of transactions between related parties [abstract]
Short-term employee benefits	$ 2,324	$ 2,108	$ 2,639
Share-based compensation	731	1,445	1,702
Compensation of officers	$ 3,055	$ 3,553	$ 4,341
Number of officers \| Officers	6	7	7