View Filing Data

Other comprehensive income

3,171

Balance at Dec. 31, 2016

114,979

(9)

(107,260)

7,770

Loss for the period

(22,149)

(29)

Total comprehensive income (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

Accumaleted effect of implementing IFRS 15

1,363

Balance at Dec. 31, 2017

138,992

(38)

(129,409)

9,620

(249)

Balance as of January 1, 2018 at Dec. 31, 2017

138,992

(38)

(129,658)

9,371

Loss for the period

(1,057)

Other comprehensive income

Total comprehensive income (loss)

1,057

(1,044)

Exercise of options

^[1]

645

Balance at Dec. 31, 2018

$ 75

$ 139,637

$ (25)

$ (130,715)

$ 8,972

[1]	Represents an amount lower than $1.

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

+ References + Details

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2018-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=7&date=2018-03-01&anchor=para_18_b&doctype=Standard
-URIDate 2018-03-16

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2018-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=1&date=2018-03-01&anchor=para_24_b&doctype=Standard
-URIDate 2018-03-16

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2018-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=1&date=2018-03-01&anchor=para_32_a_ii&doctype=Standard
-URIDate 2018-03-16

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2018-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=para_28_b&doctype=Standard
-URIDate 2018-03-16

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2018-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=4&date=2018-03-02&anchor=para_39L_e&doctype=Standard&book=b
-URIDate 2018-03-16

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2018-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=para_23&doctype=Standard
-URIDate 2018-03-16

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2018-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2018-03-01&anchor=para_B10_b&doctype=Appendix&seq=2
-URIDate 2018-03-16

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2018-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_106_d_i&doctype=Standard
-URIDate 2018-03-16

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2021-01-01
-Name IFRS
-Number 17
-IssueDate 2018-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=17&date=2018-03-01&anchor=para_113_b&doctype=Standard
-URIDate 2018-03-16

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2018-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_81A_a&doctype=Standard
-URIDate 2018-03-16

Cash Flows from Operating Activities:

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - ₪ / shares	Dec. 31, 2018	Dec. 31, 2017
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, 2018

Dec. 31, 2017

Dec. 31, 2016

Net loss

$ (1,057)

$ (22,149)

$ (18,885)

Adjustments to profit and loss items:

Loss (profit) from discontinued operation

(4,608)

7,616

Depreciation and amortization

577

567

589

Revaluation of liabilities in respect of IIA grants

645

1,363

3,171

287

229

(1,298)

Revaluation of contingent consideration for purchase of shares

758

351

(1,621)

Other income from settlement agreement

(7,537)

Increase in severance pay liability, net

111

125

Net financing income

(412)

(349)

(414)

Un-realized foreign currency (gain) loss

182

(185)

(94)

Adjustments to profit and loss items, total

(10,089)

9,703

458

Changes in asset and liability items:

Decrease (increase) in trade receivables

(211)

(107)

Decrease (increase) in inventories

206

(1,042)

873

Decrease (increase) in other receivables and long term deposits

(306)

(1,227)

Increase (decrease) in trade payables and accrued expenses

(536)

(135)

2,195

Decrease in other payables and deferred revenues

(161)

(70)

(1,012)

Changes in asset and liability items, total

(1,008)

(2,446)

1,982

Net cash used in continuing operating activities

(12,154)

(14,892)

(16,445)

Net cash used in discontinued operating activities

(1,563)

Net cash used in operating activities

(12,154)

(16,455)

(16,445)

Cash Flows from Investing Activities:

Purchase of property and equipment

(522)

(1,045)

(671)

Purchase of intangible assets

(12)

(30)

Interest received

106

349

407

Proceeds from (investments in) short term bank deposits, net

(16,612)

1,163

2,110

Net cash provided by (used in) investing activities

(17,040)

437

1,816

Cash Flows from Financing Activities:

Proceeds from exercise of options

^[1]

Proceeds from issuance of shares, net

22,658

Proceeds from the IIA grants, net of re-payment

330

900

Net cash provided by financing activities

22,995

907

Exchange rate differences on cash and cash equivalent balances

(205)

226

Increase (decrease) in cash and cash equivalents from continuing activities

(29,353)

8,766

(13,636)

Decrease in cash and cash equivalents from discontinued activities

(1,563)

Balance of cash and cash equivalents at the beginning of the year

36,069

28,866

42,502

Balance of cash and cash equivalents at the end of the year

$ 6,716

$ 36,069

$ 28,866

[1]	Represents an amount lower than $1.

GENERAL

12 Months Ended

Dec. 31, 2018

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, 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") as well as the Israeli, Argentinean, South-Korean and Russian 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 organizations and in other territories through local distributers.

The Company second investigational innovative product, EscharEx, is a topical biological drug being developed for debridement of chronic and other hard-to-heal wounds.

The Company has a contract with the U.S. Biomedical Advanced Research and Development Authority ("BARDA"), which was modified in 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. In September 2018, the Company has awarded additional contract with BARDA to develop NexoBrid for the treatment of Sulfur Mustard injuries as part of BARDA preparedness for mass casualty events (see Note 15d).

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 Note 16).

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2018

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.

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 averegae exchange rates at the quarter 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 standard 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"), 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 (Level 3 of the fair value hierarchy) 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. As of December 31, 2018, the aggregate amount of the deffered revenue was $1,356, which is expected to be recognized over 12 years.

Effective of January 1, 2018, the Company adopted IFRS 15, "Revenue from Contracts with Customers" ("the Standard"). The Company elected to adopt the provisions of the Standard which replaces IAS 18, using the modified retrospective method with the application of certain practical expedients and without restatement of comparative data.

The new Standard introduces a five-step model that applies 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 distinct performance obligations in the contract.

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

Step 4: Allocate the transaction price to the distinct performance obligations on a relative stand-alone selling price basis using observable prices, if s 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 Company generates revenues from direct and indirect sales of its products and from license agreements with its distributors.

Revenue from the Sale of products:

Revenue from sale of goods is recognized in profit or loss at the point in time when the control of the goods is transferred to the customer, generally upon delivery of the goods to the customer.

Revenue from distribution agreements with Multiple- element:

According to the new Standard, entities need to determine whether the licenses for intellectual property is a performance obligation which 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 recognizes revenue from the granting of licenses over the license period, which is identical to the legacy 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. 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. Under the legacy revenue recognition guidance the Company did not recognize finance expenses in respect of deferred revenue.

On January 1, 2018, the Company adopted the new standard for all its distribution agreements at the date of initial application, with the cumulative effect of applying the new guidance recognized as an adjustment to the opening retained earnings balance. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. The Company recorded a net increase to opening accumulated deficit of $249 as of January 1, 2018 due to the cumulative impact of adopting the new guidance and an increase of deferred revenues by $249.

The following table summarizes the impacts of adopting IFRS 15 on the Company’s statement of financial position as of December 31, 2018 and its consolidated statements of comprehensive loss for the period ended December 31, 2018 for each of the line items affected.

Impact on the condensed consolidated statement of financial position:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Deferred revenues*		1,356			(369	)		987

Accumulated deficit		(130,715	)		369			(130,346	)

* Comprised of short term deferred revenues classified in other payable and long term deferred revenues.

Impact on the condensed consolidated statements of comprehensive loss for the year ended December 31, 2018:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Revenues		3,401			(44	)		3,357
Financial expense		(2,117	)		164			(1,953	)
Net loss		(1,057	)		120			(937	)
Total Basic and diluted net loss per share		(0.04	)		(0.0	)		(0.04	)

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:

Effective of January 1, 2018 the Company adopted IFRS 9, "Financial Instruments" ("the Standard"), which replaced IAS 39. The Company elected to adopt the provisions of the Standard retrospectively without restatement of comparative data.

Financial assets:

Financial assets are classified, at initial recognition, and subsequently measured at amortized cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs.

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 IFRS 9 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:

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair value measurement is based on the assumption that the transaction will take place in the asset's or the liability's principal market, or in the absence of a principal market, in the most advantageous market.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

4. Classification of financial instruments by fair value hierarchy:

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

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).

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.

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(Level 3 of the fair value hierarchy) 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 has been made.

The Company accounts for this obligation as a liability on the balance sheet in an amount equal to the fair value of the future royalty payments. In order to determine the fair value, the Company estimated the amount and timing of the future payments based on our projected results of operations.

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 profit or loss.

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.

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

12 Months Ended

Dec. 31, 2018

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, 2018

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 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.

The effects of the adoption of the new Standard are as follows:

According to the new Standard, lessees are required to recognize all leases in the statement of financial position (excluding certain exceptions, see below). Lessees will recognize a liability for lease payments with a corresponding right-of-use asset, similar to the accounting treatment for finance leases under the existing standard, IAS 17, "Leases". Lessees will also recognize interest expense and depreciation expense separately.

Variable lease payments that are not dependent on changes in the Consumer Price Index ("CPI") or interest rates, but are based on performance or use are recognized as an expense by the lessees as incurred and recognized as income by the lessors as earned.

In the event of change in variable lease payments that are CPI-linked, lessees are required to remeasure the lease liability and record the effect of the remeasurement as an adjustment to the carrying amount of the right-of-use asset.

The accounting treatment by lessors remains substantially unchanged from the existing standard, namely classification of a lease as a finance lease or an operating lease.

The new Standard includes two exceptions which allow lessees to account for leases based on the existing accounting treatment for operating leases - leases for which the underlying asset is of low financial value and short-term leases (up to one year).

The new Standard is effective for annual periods beginning on or after January 1, 2019.

The new Standard permits lessees to use one of the following approaches:

Full retrospective approach - according to this approach, a right-of-use asset and the corresponding liability will be presented in the statement of financial position as if they had always been measured according to the provisions of the new Standard. Accordingly, the effect of the adoption of the new Standard at the beginning of the earliest period presented will be recorded in equity. Also, the Company will restate the comparative data in its financial statements. Under this approach, the balance of the liability as of the date of initial application of the new Standard will be calculated using the interest rate implicit in the lease, unless this rate cannot be easily determined in which case the lessee's incremental borrowing rate of interest on the commencement date of the lease will be used.

Modified retrospective approach - this approach does not require restatement of comparative data. The balance of the liability as of the date of initial application of the new Standard will be calculated using the lessee's incremental borrowing rate of interest on the date of initial application of the new Standard. As for the measurement of the right-of-use asset, the Company may choose, on a lease-by-lease basis, to apply one of the two following alternatives:

Recognize an asset in an amount equal to the lease liability, with certain adjustments.

Recognize an asset as if the new Standard had always been applied.

Any difference arising on the date of first-time recorded in equity.

The Company believes that it will apply the modified retrospective approach upon the initial adoption of the new Standard by measuring the right-of-use asset at an amount equal to the lease liability, as measured on the transition date.

The Company has a substantial number of lease contracts, mainly leases of Vehicles and laboratory, office and clean room spaces (see also Note 15g). In assessing the impact of the new Standard on the financial statements, the Company is evaluating the following matters:

Options to extend the lease- according to the new Standard, the non-cancellable period of a lease includes periods that are covered by options to extend the lease if the lessee is reasonably certain to exercise the option. The Company is reviewing whether such options exist in its lease agreements and whether it is reasonably certain that it will exercise the options. As part of its assessment, the Company is evaluating all relevant facts and circumstances that create an economic incentive to exercise the option, including significant leasehold improvements that have been or are expected to be undertaken, the importance of the underlying asset to the Company's operations and past experience in connection with the exercise of such options.

Separation of lease components - according to the new Standard, all lease components within a contract should be accounted for separately from non-lease components. A lessee is allowed a practical expedient according to which it can elect, by class of underlying asset, not to separate non-lease components from lease components, and instead account for them as a single lease component. The Company is reviewing whether such non-lease components, such as management and maintenance services, exist in its current lease contracts and whether the above practical expedient should be applied to each class of underlying asset.

Incremental interest rate - the Company estimates the incremental interest rate to be used for measuring the lease liability and right-of-use asset on the date of initial adoption of the new Standard, based on the lease term and nature of the leased asset.

The Company is also evaluating the need for making adjustments to its information systems, internal control, policies and procedures that will be necessary in order to apply the provisions of the new Standard.

The Company estimates that the effect of the initial adoption of the new Standard as of January 1, 2019, is expected to result in an increase in the Company's total assets and liabilities of approximately $ 2,500 and no change in its equity.

Moreover, the effect of the initial adoption of the new Standard in 2019 is expected to result in a decrease in the Company's lease expenses of approximately $ 590 and an increase in the Company's depreciation and finance expenses of approximately $ 530 and $ 150, respectively. The total effect of the initial adoption of the new Standard in 2019 is expected to result in a decrease of approximately $ 60 in operating expenses and a increase of approximately $ 90 in net loss.

In addition, as a result of the adoption of the new Standard, in 2019, the Company's cash flows from operating activities are expected to decrease by approximately $ 590 and its cash flows from financing activities are expected to increase by approximately $ 590.

CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2018

Cash and cash equivalents [abstract]

CASH AND CASH EQUIVALENTS

NOTE 5:-

CASH AND CASH EQUIVALENTS

	December 31,
	2017		2018

USD cash for immediate withdrawal		26,700		5,336
Non-USD cash for immediate withdrawal		9,369		1,380

		36,069		6,716

SHORT-TERM BANK DEPOSITS

12 Months Ended

Dec. 31, 2018

Disclosure of short-term bank deposits [Abstract]

SHORT-TERM BANK DEPOSITS

NOTE 6:-

SHORT-TERM BANK DEPOSITS

	December 31,
	2017		2018

USD bank deposits (1)		-		16,828
IL restricted bank deposits (2)		-		89

		-		16,917

(1)

The USD deposits bear annual interest of 2.34%-2.60% for the period of 148-328 days for 2018.

(2)

As of December 31, 2018, the Company had an amount of $ 89 that was restricted by the bank and may be used only when certain conditions are met.

INVENTORIES

12 Months Ended

Dec. 31, 2018

Classes of current inventories [abstract]

INVENTORIES

NOTE 7:-

INVENTORIES

	Year ended December 31,
	2017		2018

Raw materials		339		432
Finished goods		1,547		1,248

		1,886		1,680

OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2018

Trade and other current receivables [abstract]

OTHER RECEIVABLES

NOTE 8:-

OTHER RECEIVABLES

	Year ended December 31,
	2017		2018

Government authorities		226		126
BARDA funds		2,175		2,524
Prepaid expenses and other		129		132
Former shareholder, net (see Note 15e) *		666		4,000
Related parties		-		58

		3,196		6,840

* The 2018 balance includes $1,517 receivable in respect of discouninued operation ( see Note 23b).

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2018

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, 2018:

	Office furniture			Electronic machinery and laboratory equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2018		248			3,561		139			2,120		6,068
Disposals		(7	)		-		(55	)		-		(62	)
Additions		7			493		19			3		522
Foreign currency translation		(5	)		-		(1	)		-		(6	)

Balance as of December 31, 2018		243			4,054		102			2,123		6,522

Accumulated Depreciation

Balance as of January 1, 2018		154			1,802		93			2,095		4,144
Disposals		(7	)		-		(55	)		-		(62	)
Additions		18			351		33			23		425
Foreign currency translation		(4	)		-		(1	)		-		(5	)

Balance as of December 31, 2018		161			2,153		70			2,118		4,502

Depreciated cost as of December 31, 2018		82			1,901		32			5		2,020

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

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about intangible assets [abstract]

INTANGIBLE ASSETS, NET

NOTE 10:- INTANGIBLE ASSETS, NET

Balance as of December 31, 2018

	License and Knowhow
Cost
Balance as of January 1, 2018		1,526
Additions		12
Balance as of December 31, 2018		1,538

Accumulated Amortization
Balance as of January 1, 2018		891
Additions		152
Balance as of December 31, 2018		1,043

Amortized cost
Balance as of December 31, 2018		495

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

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, 2018

Trade and other payables [abstract]

OTHER PAYABLES

NOTE 11:-

OTHER PAYABLES

	Year ended December 31,
	2017		2018

Employees and payroll accruals		1,621		1,532
Current maturities of IIA grants		57		146
Related parties		324		227
Deferred revenues		131		198
Other		49		79

		2,182		2,182

LIABILITIES IN RESPECT OF IIA GRANTS

12 Months Ended

Dec. 31, 2018

Disclosure of israeli innovation authority grants [Abstract]

ISRAELI INNOVATION AUTHORITY GRANTS

NOTE 12:-

LIABILITIES IN RESPECT OF IIA GRANTS

	Year ended December 31,
	2017			2018

Balance as of January 1		6,888			7,437
Grants received		401			93
Royalties		(81	)		(103	)
Amounts carried to Profit or Loss		229			287
Balance as of Decmber 31		7,437			7,714

Current maturities		(57	)		(146	)

Long term liabilities in respect of IIA grants		7,380			7,568

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 as of December 31, 2018 is approximately $ 13,692, while the amortized cost of this liability as of that date is $ 7,714, using the interest method.

FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2018

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,
	2016			2017			2018

Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change:
5% increase in exchange rate	$	11		$	346		$	31
5% decrease in exchange rate	$	(11	)	$	(346	)	$	(31	)

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, 2018

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, 2018

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 2016, 2017 and 2018 amounted to $ 57, $ 48 and $ 72, 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 royalty amount payable by the Company as of December 31, 2018 is approximately $ 13,692, 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 expired in May 2018.

The Company has a contract with BARDA, which was modified in 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. The modified contract includes approximately $ 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 approximately $ 16,500 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 approximately $ 10,000 for expanding NexoBrid’s indications and of up to approximately $ 50,000 for additional procurement of NexoBrid.

As of December 31, 2018 the Company recorded accumulated $ 28,032 in funding from BARDA under this contract.

In September 2018, the Company has awarded additional contract with BARDA to develop NexoBrid for the treatment of Sulfur Mustard injuries as a medical countermeasure as part of BARDA preparedness for mass casualty events.

The contract provides approximately $ 12,000 of funding to support research and development activities up to pivotal studies in animals under the U.S. Food and Drug Administration (FDA) Animal Rule. The contract also contains options for additional funding of up to approximately $31,000 for additional development activities, animal pivotal studies, and the FDA Biologics License Application (BLA) submission for approval of NexoBrid for the treatment of Sulfur Mustard injuries

As of December 31, 2018 the Company recorded accumulated $ 137 in funding from BARDA under this contract.

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 also 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 accounted 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 $ 14,381 and $ 14,460 as of December 31, 2017 and 2018, respectivaly, as a result of a revaluation in the amount of $ 351 and $ 758, in 2017 and 2018, respectivaly, which was recorded within financial expenses.

Pursuant to a Settlement Agreement with Teva entered in March 2019, the fair value of the revised future royalty obligation to Teva was estimated at $ 6,330 as of December 31, 2018 using a discounted cash flow model based on sales projections.

As a result of Teva Settlement Agreement, a one-time net income of $ 7,537 was recorded as other income from settlement agreement and a one-time income of $ 4,608 was recorded within the profit from discontinued operation in the fourth quarter and the year ending December 31, 2018 (see Note 23b).

On September 15, 2014, a Statement of Claim was filed against the Company by some shareholders of Polyheal (the "Plaintiffs"). 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, on Novemeber 12, 2017 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 in December 2017 to plaintiffs in consideration for PolyHeal's shares. In addition, the Company born legal expenses totaled $116 for the year ended on December 31, 2017.

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.

In March 2019 the Company entered into a Settlement Agreement with the plaintiffs, which, contingent upon the Israeli Supreme Court's approval of the settlement agreement, will result in the acceptance of our appeal by the Supreme Court and the cancellation of the 2017 ruling that was issued by the District Court against MediWound (see also Note 23a).

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 3,000 square meters of laboratory, office and clean room space at a monthly rent fee of NIS 116,000 (approximately $31). This sub-lease agreement which was amended on January 1, 2019, expires in October 2022 and provides with 3 years extantion period at the sole discretion of the Company.

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, 2022.

The Company and its subsidiary have operating lease agreements for 16 vehicles for a period of three years. As of December 31, 2018, the Company deposited $ 39 in respect of the vehicles operating leases.

Minimum future lease fees for both agreements as of December 31, 2018 are as follows:

2019			592
2020			476
2021			426
2022			330
			1,824

EQUITY

12 Months Ended

Dec. 31, 2018

Disclosure of classes of share capital [abstract]

EQUITY

NOTE 16:-

EQUITY

Share capital

	Year ended December 31,
	2017		2018

Authorized number of shares		32,244,508		37,244,508

Issued and outstanding number of shares		27,047,737		27,178,839

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, 2018

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,
	2016		2017		2018
Cost of revenues		504		188		71
Research and development		752		488		181
Selling and marketing		765		204		63
General and administrative		1,150		483		330

Total share-based compensation		3,171		1,363		645

Share-based payment plan for employees and directors:

The Company has reserved for issuance stock options and restricted stock units ("RSUs") at total of 2,988,617 ordinary shares. As of December 31, 2018, 579,535 ordinary shares of the Company were still available for future grant. Any options or RSUs, 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 5-10 years from the date of grant, against payment of an exercise price or cashless exercise. The options generally vest over a period of 3-4 years.

In March 2014, the Company adopted and obtained shareholder approval for its 2014 Equity Incentive Plan (the “2014 Plan”). Options and RSU's granted under the Company's 2014 Plan are exercisable in accordance with the terms of the Plan. Options are exercisable within 5-10 years from the date of grant, against payment of an exercise price or cashless exercise and share units are granted immediately upon vesting of the RSU's. The options and the RSU's generally vest over a period of 3-4 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

	2016					2017					2018
	Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price

Outstanding Options at beginning of year		2,313,224			9.35		2,181,075			9.62		1,934,735			10.02
Option's Granted		47,500			8.56		40,000			6.72		665,000			5.12
Option's Exercised		(80,149	)		0.09		(79,624	)		0.09		(208,332	)		2.63
Option's Forfeited		(99,500	)		10.80		(206,716	)		8.93		(78,154	)		9.06

Outstanding options and at end of year		2,181,075			9.62		1,934,735			10.02		2,313,249			9.31

Option's Exercisable at end of year		1,401,866			9.35		1,562,235			10.25		1,475,451			11.23

The following table summarizes information about share options outstanding as of December 31, 2018:

	Options and outstanding as of December 31, 2018
Range of exercise prices ($ )	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

4.63 ‑ 5.15		665,000		9.65		5.12
7.26 ‑ 9.82		829,349		5.69		9.08
12.89 ‑ 13.76		818,900		4.92		12.94
Total		2,313,249		6.56		9.31

The following table summarizes information about RSU's outstanding as of December 31, 2018:

	RSU's 2018

Outstanding at beginning of year		-
Granted		95,833
Forfeited		-
Vested		-

Outstanding at the end of the period		95,833

RSU's Exercisable at end of year		-

The fair value of the options and RSU's granted to employees and directors at the grant date for the years ends December 31, 2016, 2017 and 2018 was $193, $172 and $1,650, respectively.

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.

On February 22, 2018, the general meeting of the Company approved to extend the exercise period of 208,332 options previously granted to CEO and in addition approved the grant of 40,000 options to purchase the Company's ordinary shares, for an exercise price of $ 4.63 per share, to certain of its directors. The fair value of the extended options was estimated at approximately $98 and the new options granted, as of the grant date, was estimated at approximately $76.

On June 27, 2018, a total of 208,332 options which were previously granted to the Company's CEO were exercised into 131,102 ordinary shares using cashless exercise mechanism.

On December 31, 2018, the Company's Board of Directors approved the grant of 625,000 options to purchase ordinary shares, for an exercise price of $ 5.15 per share, and the grant of 95,833 RSU's to its employees. The fair value of the options and RSU's granted, as of the grant date, was estimated at approximately $1,261 and $389, respectivaly.

The fair value of the Company's share options granted to employees and directors for the years ended December 31, 2016, 2017 and 2018 was estimated using the binomial option pricing models using the following assumptions:

	December 31,
	2016		2017		2018

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		72		63		44-54
Risk‑free interest rate (%)		0.28-2.0		1.22-2.15		1.63-2.69
Early exercise factor (%)		100-150		150		100-150
Weighted average share prices (Dollar)		8.56		7.80		4.07

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, 2018

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 23% in 2018, 24% in 2017 and 25% in 2016.

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 29.79% in 2018, 30.53% in 2017 and 29.72% in 2016.

Final tax assessments:

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

The Company's subsidiary 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, 2018, the Company had carryforward losses and other temporary differences mainly from R&D expenses together amounting to approximately $133,000.

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, 2016, 2017 and 2018 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, 2018

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 Agreement, 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.

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. 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 for the year ended December 31, 2017.

As of December 31, 2017, the Company recorded a full provision of $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. On December 27, 2017 the Company filed an appeal (see Note 15f).

In March 2019 the Company entered into a Settlement Agreement with the plaintiffs,which, contingent upon the Israeli Supreme Court's approval of the settlement agreement, will result in the acceptance of our appeal by the Supreme Court and the cancellation of the 2017 ruling that was issued by the District Court against MediWound (see also Note 23a).

As a result of a Settlement Agreement signed with the Teva in March 2019 (see also Note 23b), a one-time net income of $4,608 was recorded within the profit from discontinued operation in the fourth quarter and full year ending December 31, 2018.

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST

12 Months Ended

Dec. 31, 2018

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

Cost of revenues:

	Year ended December 31,
	2016			2017			2018

Salary and benefits (including share-based compensation)		2,112			2,073			2,212
Subcontractors		66			121			72
Depreciation and amortization		475			457			474
Cost of materials		410			535			468
Other manufacturing expenses		892			989			783
Decrease (increase) in inventory of finished products		780			(999	)		299
Allotment of manufacturing costs to R&D		(2,577	)		(1,598	)		(2,220	)

		2,158			1,578			2,088

Research and development expenses, net of participations:

	Year ended December 31,
	2016			2017			2018

Salary and benefits (including share-based compensation)		3,171			3,840			3,703
Subcontractors		8,517			8,780			11,423
Depreciation and amortization		28			42			51
Cost of materials		351			223			309
Allotment of manufacturing costs		2,577			1,598			2,220
Other research and development expenses		135			142			209

Research and development, gross		14,779			14,625			17,915

Participations:
BARDA funds		(5,566	)		(8,565	)		(13,238	)
Revaluation of liabilities in respect of IIA grants		(2,145	)		(598	)		(605	)

		7,068			5,462			4,072

Selling and marketing expenses:

	Year ended December 31,
	2016		2017		2018

Salary and benefits (including share based compensation)		5,438		3,062		2,343
Marketing and medical support		2,444		1,628		1,055
Depreciation and amortization		18		12		9
Shipping and delivery		111		236		192
Registration and marketing license fees		392		424		589

		8,403		5,362		4,188

General and administrative expenses:

	Year ended December 31,
	2016		2017		2018

Salary and benefits (including share‑based compensation)		2,361		2,032		2,035
Professional fees		1,241		1,224		1,361
Depreciation and amortization		66		56		43
Other		416		469		360

		4,084		3,781		3,799

Other expenses:

Other one-time expenses associated with the review of potential strategic transactions.

Financial income and expense:

	Year ended December 31,
	2016		2017		2018
Financial income:
Interest income		414		349		412
Revaluation of contingent consideration for the purchase of shares		1,621		-		-
Exchange differences, net		131		57		-

		2,166		406		412
Financial expense:
Interest in respect of IIA grants		847		827		892
Revaluation of contingent consideration for the purchase of shares		-		351		758
Exchange differences, net		-		-		219
Finance expenses in respect of deferred revenue		-		-		164
Other		49		74		84

		896		1,252		2,117

NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2018

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,
	2016					2017					2018
	Weighted average number of shares		Loss			Weighted average number of shares		Loss			Weighted average number of shares		Loss

Basic and diluted loss		21,862,169		(18,885	)		23,341,040		(14,533	)		27,113,617		(5,665	)

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

	Year ended December 31,
	2016				2017					2018
	Weighted average number of shares		Loss		Weighted average number of shares		Loss			Weighted average number of shares		Profit

Basic and diluted profit ( loss)		-		-		23,341,040		(7,616	)		27,113,617		4,608

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

	Year ended December 31,
	2016			2017			2018
Basic and Diluted loss per share:
Net loss from continuing operations		(0.86	)		(0.62	)		(0.21	)

Profit (loss) from discontinued operation		-			(0.33	)		0.17

Net loss per share		(0.86	)		(0.95	)		(0.04	)

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS

12 Months Ended

Dec. 31, 2018

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.- Parent Company.

Directors of the Company.

CureTech Ltd.-Sister Company

Balances of related parties:

	Payables		Recievable
Parent Company (1):

As of December 31, 2017		238		-
As of December 31, 2018		186		-

Other related parties:

As of December 31, 2017		86		-
As of December 31, 2018		41		58

(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 and other
Parent company:
2016		27		804
2017		35		817
2018		44		292

Other related parties:
2016		159		-
2017		225		-
2018 (2)		162		(246	)

(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 $420, $691 and $537 for the years 2016, 2017 and 2018, respectively, as well as payment for the purchasing of a patent in amount of $30, $30 and $12 for the years 2016, 2017 and 2018, respectively (see note 15c).

(2)

Comprise of participation in building maintenance on amount of $246.

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,
	2016		2017		2018

Short-term employee benefits		2,108		2,324		2,304
Share-based compensation		1,445		731		276

		3,553		3,055		2,580

Number of officers		7		6		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.

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2018

Disclosure of non-adjusting events after reporting period [abstract]

SUBSEQUENT EVENTS

NOTE 23:-

SUBSEQUENT EVENTS

On March 24, 2019, the Company entered into a settlement agreement and mutual general release with the Plaintiffs (the "Polyheal Settlement Agreement"), which settles any and all debts, obligations or liabilities that the Plaintiffs and MediWound had, has or may have to the other party in connection with the agreements among MediWound, Teva, PolyHeal, the Plaintiffs and other shareholders of PolyHeal.

Pursuant to the terms of Polyheal Settlement Agreement, the Plaintiffs repaid to MediWound a portion of the amount that was ruled in their favor under the Tel Aviv District Court Ruling, and contingent upon the Israeli Supreme Court approval of this Polyheal Settlement Agreement, it will result in the acceptance of the Company's appeal that was filed on December, 2017, and the cancellation of the 2017 Ruling that was issued by the District Court against MediWound. In addition, the Company also agreed to indemnify, defend and hold harmless Teva and its directors, officers, agents and employees from and against claims relating to a certain milestone related to PolyHeal under an agreement associated with the Collaboration Agreements, up to an amount of USD 10 million, if a notice of such claim has been received by the Company prior to December 31, 2023.

On March 24, 2019, the Company entered into a settlement agreement and mutual general release with Teva (the “Teva Settlement Agreement”), which settles any and all debts, obligations or liabilities that each party or any of its controlled affiliates had or has to the other party or any of its controlled affiliates under, in connection with or arising out of certain transactions and agreements entered into between Teva and the Company from 2007 to 2012 (collectively, the “Collaboration Agreements”), which have terminated effective as of December 31, 2012 and September 2, 2013, as applicable, and which related to the Company's product, NexoBrid, and to PolyHeal Ltd. product, PolyHeal.

During the recent years, the Company has been engaged in discussions with Teva regarding payments the Company believes Teva was obligated to make to the Company pursuant to these Collaboration Agreements.

Pursuant to the terms of the Teva Settlement Agreement, Teva has agreed to pay the Company $ 4,000 in cash, and to reduce the contingent consideration that is payable to Teva pursuant to the Company's repurchase of its shares from Teva in 2013, so that the Company will be obligated to pay Teva annual payments at a reduced rate of 15% of its recognized revenues from the sale or license of NexoBrid after January 1, 2019, up to a reduced aggregate amount of $10,200.

As a result of Teva Settlement Agreement, a one-time net income from settlement agreement of $7,537 was recorded as other income and a one-time income of $4,608 was recorded within the profit from discontinued operation in the fourth quarter and the year ending December 31, 2018.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2018

Disclosure of significant accounting policies [Abstract]

Basis of presentation of financial statements

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.

Functional currency, reporting currency and foreign currency

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

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:

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

Inventories

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 standard costs including materials, labor and other direct and indirect manufacturing costs based on practical capacity.

Participation by governments support

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

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

Intangible assets, net:

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

Revenue recognition

Revenue recognition:

The new Standard introduces a five-step model that applies 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 distinct performance obligations in the contract.

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

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

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

Revenue from the Sale of products:

Revenue from sale of goods is recognized in profit or loss at the point in time when the control of the goods is transferred to the customer, generally upon delivery of the goods to the customer.

Revenue from distribution agreements with Multiple- element:

Impact on the condensed consolidated statement of financial position:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Deferred revenues*		1,356			(369	)		987

Accumulated deficit		(130,715	)		369			(130,346	)

* Comprised of short term deferred revenues classified in other payable and long term deferred revenues.

Impact on the condensed consolidated statements of comprehensive loss for the year ended December 31, 2018:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Revenues		3,401			(44	)		3,357
Financial expense		(2,117	)		164			(1,953	)
Net loss		(1,057	)		120			(937	)
Total Basic and diluted net loss per share		(0.04	)		(0.0	)		(0.04	)

Research and development expenses

Research and development expenses:

Impairment of non-financial assets

Impairment of non-financial assets:

Financial instruments

Financial instruments:

Financial assets:

Financial assets are classified, at initial recognition, and subsequently measured at amortized cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.

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 IFRS 9 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:

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

4. 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).

Offsetting financial instruments:

De-recognition of financial instruments:

Financial assets:

Financial liabilities:

Contingent consideration for purchase of shares:

Provisions

Provisions:

Short-term employee benefits and severance pay liability, net

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.

Disclosure of significant accounting policies [Abstract]

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

Discontinued operation:

Loss per share

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.

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2018

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

Schedule of condensed interim consolidated statement of financial position

Impact on the condensed consolidated statement of financial position:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Deferred revenues*		1,356			(369	)		987

Accumulated deficit		(130,715	)		369			(130,346	)

* Comprised of short term deferred revenues classified in other payable and long term deferred revenues.

Schedule of condensed interim consolidated statement of profit or loss

Impact on the condensed consolidated statements of comprehensive loss for the year ended December 31, 2018:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Revenues		3,401			(44	)		3,357
Financial expense		(2,117	)		164			(1,953	)
Net loss		(1,057	)		120			(937	)
Total Basic and diluted net loss per share		(0.04	)		(0.0	)		(0.04	)

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2018

Cash and cash equivalents [abstract]

Schedule of Cash and Cash Equivalents

	December 31,
	2017		2018

USD cash for immediate withdrawal		26,700		5,336
Non-USD cash for immediate withdrawal		9,369		1,380

		36,069		6,716

SHORT-TERM BANK DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of short-term bank deposits [Abstract]

Schedule of Short-Term Bank Deposits

	December 31,
	2017		2018

USD bank deposits (1)		-		16,828
IL restricted bank deposits (2)		-		89

		-		16,917

(1)

The USD deposits bear annual interest of 2.34%-2.60% for the period of 148-328 days for 2018.

(2)

As of December 31, 2018, the Company had an amount of $ 89 that was restricted by the bank and may be used only when certain conditions are met.

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2018

Classes of current inventories [abstract]

Schedule of Inventories

	Year ended December 31,
	2017		2018

Raw materials		339		432
Finished goods		1,547		1,248

		1,886		1,680

OTHER RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2018

Trade and other current receivables [abstract]

Schedule of Other Receivables

	Year ended December 31,
	2017		2018

Government authorities		226		126
BARDA funds		2,175		2,524
Prepaid expenses and other		129		132
Former shareholder, net (see Note 15e) *		666		4,000
Related parties		-		58

		3,196		6,840

* The 2018 balance includes $1,517 receivable in respect of discouninued operation ( see Note 23b).

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2018

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

Schedule of Property, Plant and Equipment, Net

Balance as of December 31, 2018:

	Office furniture			Electronic machinery and laboratory equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2018		248			3,561		139			2,120		6,068
Disposals		(7	)		-		(55	)		-		(62	)
Additions		7			493		19			3		522
Foreign currency translation		(5	)		-		(1	)		-		(6	)

Balance as of December 31, 2018		243			4,054		102			2,123		6,522

Accumulated Depreciation

Balance as of January 1, 2018		154			1,802		93			2,095		4,144
Disposals		(7	)		-		(55	)		-		(62	)
Additions		18			351		33			23		425
Foreign currency translation		(4	)		-		(1	)		-		(5	)

Balance as of December 31, 2018		161			2,153		70			2,118		4,502

Depreciated cost as of December 31, 2018		82			1,901		32			5		2,020

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

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about intangible assets [abstract]

Schedule of Intangible Assets, Net

Balance as of December 31, 2018

	License and Knowhow
Cost
Balance as of January 1, 2018		1,526
Additions		12
Balance as of December 31, 2018		1,538

Accumulated Amortization
Balance as of January 1, 2018		891
Additions		152
Balance as of December 31, 2018		1,043

Amortized cost
Balance as of December 31, 2018		495

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

OTHER PAYABLES (Tables)

12 Months Ended

Dec. 31, 2018

Trade and other payables [abstract]

Schedule of Other Payables

	Year ended December 31,
	2017		2018

Employees and payroll accruals		1,621		1,532
Current maturities of IIA grants		57		146
Related parties		324		227
Deferred revenues		131		198
Other		49		79

		2,182		2,182

LIABILITIES IN RESPECT OF IIA GRANTS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of israeli innovation authority grants [Abstract]

Schedule of Israeli Innovation Authority Grants

	Year ended December 31,
	2017			2018

Balance as of January 1		6,888			7,437
Grants received		401			93
Royalties		(81	)		(103	)
Amounts carried to Profit or Loss		229			287
Balance as of Decmber 31		7,437			7,714

Current maturities		(57	)		(146	)

Long term liabilities in respect of IIA grants		7,380			7,568

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about financial instruments [abstract]

Schedule of Sensitivity Tests Relating to Changes in Market Factors

	December 31,
	2016			2017			2018

Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change:
5% increase in exchange rate	$	11		$	346		$	31
5% decrease in exchange rate	$	(11	)	$	(346	)	$	(31	)

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of contingent liabilities [abstract]

Schedule of Minimum Future Lease Fees

Minimum future lease fees for both agreements as of December 31, 2018 are as follows:

2019			592
2020			476
2021			426
2022			330
			1,824

EQUITY (Tables)

12 Months Ended

Dec. 31, 2018

Equity

Schedule of Share Capital

	Year ended December 31,
	2017		2018

Authorized number of shares		32,244,508		37,244,508

Issued and outstanding number of shares		27,047,737		27,178,839

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2018

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

Schedule of Expense Recognized

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

	Year ended December 31,
	2016		2017		2018
Cost of revenues		504		188		71
Research and development		752		488		181
Selling and marketing		765		204		63
General and administrative		1,150		483		330

Total share-based compensation		3,171		1,363		645

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

	2016					2017					2018
	Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price

Outstanding Options at beginning of year		2,313,224			9.35		2,181,075			9.62		1,934,735			10.02
Option's Granted		47,500			8.56		40,000			6.72		665,000			5.12
Option's Exercised		(80,149	)		0.09		(79,624	)		0.09		(208,332	)		2.63
Option's Forfeited		(99,500	)		10.80		(206,716	)		8.93		(78,154	)		9.06

Outstanding options and at end of year		2,181,075			9.62		1,934,735			10.02		2,313,249			9.31

Option's Exercisable at end of year		1,401,866			9.35		1,562,235			10.25		1,475,451			11.23

Schedule of Information About Share Options Outstanding

The following table summarizes information about share options outstanding as of December 31, 2018:

	Options and outstanding as of December 31, 2018
Range of exercise prices ($ )	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

4.63 ‑ 5.15		665,000		9.65		5.12
7.26 ‑ 9.82		829,349		5.69		9.08
12.89 ‑ 13.76		818,900		4.92		12.94
Total		2,313,249		6.56		9.31

Schedule of Fair Value Assumptions

	December 31,
	2016		2017		2018

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		72		63		44-54
Risk‑free interest rate (%)		0.28-2.0		1.22-2.15		1.63-2.69
Early exercise factor (%)		100-150		150		100-150
Weighted average share prices (Dollar)		8.56		7.80		4.07

Restricted Shares Unit [Member]

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

Schedule of Share Options Activity

The following table summarizes information about RSU's outstanding as of December 31, 2018:

	RSU's 2018

Outstanding at beginning of year		-
Granted		95,833
Forfeited		-
Vested		-

Outstanding at the end of the period		95,833

RSU's Exercisable at end of year		-

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

12 Months Ended

Dec. 31, 2018

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,
	2016			2017			2018

Salary and benefits (including share-based compensation)		2,112			2,073			2,212
Subcontractors		66			121			72
Depreciation and amortization		475			457			474
Cost of materials		410			535			468
Other manufacturing expenses		892			989			783
Decrease (increase) in inventory of finished products		780			(999	)		299
Allotment of manufacturing costs to R&D		(2,577	)		(1,598	)		(2,220	)

		2,158			1,578			2,088

Schedule of Research Expenses

Research and development expenses, net of participations:

	Year ended December 31,
	2016			2017			2018

Salary and benefits (including share-based compensation)		3,171			3,840			3,703
Subcontractors		8,517			8,780			11,423
Depreciation and amortization		28			42			51
Cost of materials		351			223			309
Allotment of manufacturing costs		2,577			1,598			2,220
Other research and development expenses		135			142			209

Research and development, gross		14,779			14,625			17,915

Participations:
BARDA funds		(5,566	)		(8,565	)		(13,238	)
Revaluation of liabilities in respect of IIA grants		(2,145	)		(598	)		(605	)

		7,068			5,462			4,072

Schedule of Selling Expenses

Selling and marketing expenses:

	Year ended December 31,
	2016		2017		2018

Salary and benefits (including share based compensation)		5,438		3,062		2,343
Marketing and medical support		2,444		1,628		1,055
Depreciation and amortization		18		12		9
Shipping and delivery		111		236		192
Registration and marketing license fees		392		424		589

		8,403		5,362		4,188

Schedule of General Expenses

General and administrative expenses:

	Year ended December 31,
	2016		2017		2018

Salary and benefits (including share‑based compensation)		2,361		2,032		2,035
Professional fees		1,241		1,224		1,361
Depreciation and amortization		66		56		43
Other		416		469		360

		4,084		3,781		3,799

Schedule of Financial Expense

Financial income and expense:

	Year ended December 31,
	2016		2017		2018
Financial income:
Interest income		414		349		412
Revaluation of contingent consideration for the purchase of shares		1,621		-		-
Exchange differences, net		131		57		-

		2,166		406		412
Financial expense:
Interest in respect of IIA grants		847		827		892
Revaluation of contingent consideration for the purchase of shares		-		351		758
Exchange differences, net		-		-		219
Finance expenses in respect of deferred revenue		-		-		164
Other		49		74		84

		896		1,252		2,117

NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2018

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,
	2016					2017					2018
	Weighted average number of shares		Loss			Weighted average number of shares		Loss			Weighted average number of shares		Loss

Basic and diluted loss		21,862,169		(18,885	)		23,341,040		(14,533	)		27,113,617		(5,665	)

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

	Year ended December 31,
	2016				2017					2018
	Weighted average number of shares		Loss		Weighted average number of shares		Loss			Weighted average number of shares		Profit

Basic and diluted profit ( loss)		-		-		23,341,040		(7,616	)		27,113,617		4,608

Schedule of Net Profit (Loss) Per Share from Continuing and Discontinued Operations

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

	Year ended December 31,
	2016			2017			2018
Basic and Diluted loss per share:
Net loss from continuing operations		(0.86	)		(0.62	)		(0.21	)

Profit (loss) from discontinued operation		-			(0.33	)		0.17

Net loss per share		(0.86	)		(0.95	)		(0.04	)

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

12 Months Ended

Dec. 31, 2018

Disclosure of transactions between related parties [abstract]

Schedule of Balances of Related Parties

Balances of related parties:

	Payables		Recievable
Parent Company (1):

As of December 31, 2017		238		-
As of December 31, 2018		186		-

Other related parties:

As of December 31, 2017		86		-
As of December 31, 2018		41		58

(1)

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

Schedule of Transactions with Related Parties

Transactions with related parties:

	Professional Fee (1)		Rent expenses and other
Parent company:
2016		27		804
2017		35		817
2018		44		292

Other related parties:
2016		159		-
2017		225		-
2018 (2)		162		(246	)

(1)

(2)

Comprise of participation in building maintenance on amount of $246.

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,
	2016		2017		2018

Short-term employee benefits		2,108		2,324		2,304
Share-based compensation		1,445		731		276

		3,553		3,055		2,580

Number of officers		7		6		6

GENERAL (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
GENERAL (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Sep. 21, 2017
Disclosure of associates [line items]
Shares issued in initial public offering		27,178,839	27,047,737	5,037,664
Gross proceeds from initial public offering	$ 22,658
PolyHeal Ltd. [Member]
Disclosure of associates [line items]
Ownership percentage		8.00%

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 02, 2018	Dec. 31, 2018	Dec. 31, 2017
Disclosure of significant accounting policies [Abstract]
Long-term deferred revenues		$ 1,158	$ 988
Deferred revenues expected recongnized period		over the next 12 years
Increase of deferred revenues	$ 249
Increase of accumulated deficit	$ 249
Unearned amounts from customers not yet recognized		$ 1,356

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Depreciation on Straight-line Basis Over Useful Life of Assets) (Details)	12 Months Ended
	Dec. 31, 2018
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.

SIGNIFICANT ACCOUNTING POLICIES (Schedule of condensed interim consolidated statement of financial position) (Details) - USD ($)
$ in Thousands

Dec. 31, 2018

Dec. 31, 2017

$ 1,158

$ 988

(130,715)

$ (129,409)

As Reported [Member]

^[1]

1,365

(130,715)

Adjustments [Member]

^[1]

(369)

Amounts without adoption of IFRS 15 [Member]

369

^[1]

987

$ (130,346)

[1]	Comprised of short term deferred revenues classified in other payable and long term deferred revenues.

SIGNIFICANT ACCOUNTING POLICIES (Schedule of condensed interim consolidated statement of profit or loss) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Line Items [Line Items]
Revenues	$ 3,401	$ 2,496	$ 1,558
Financial expense	2,117	1,252	896
Net loss	$ (1,057)	$ (22,149)	$ (18,885)
Total Basic and diluted net loss per share	$ (0.04)	$ (0.95)	$ (0.86)
As Reported [Member]
Statement Line Items [Line Items]
Revenues	$ 3,401
Financial expense	2,117
Net loss	$ (1,057)
Total Basic and diluted net loss per share	$ (0.04)
Adjustments [Member]
Statement Line Items [Line Items]
Revenues	$ (44)
Financial expense	164
Net loss	$ 120
Total Basic and diluted net loss per share	$ (0.0)
Amounts without adoption of IFRS 15 [Member]
Statement Line Items [Line Items]
Revenues	$ 3,357
Financial expense	1,953
Net loss	$ (937)
Total Basic and diluted net loss per share	$ (0.04)

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2018-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=para_28_a&doctype=Standard
-URIDate 2018-03-16

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2018-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=para_23_a&doctype=Standard
-URIDate 2018-03-16

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2018-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=para_32&doctype=Standard
-URIDate 2018-03-16

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2018-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=para_33_a&doctype=Standard
-URIDate 2018-03-16

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2018-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=para_34&doctype=Standard
-URIDate 2018-03-16

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2018-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_82_a&doctype=Standard
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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-Paragraph 102
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_102&doctype=Standard
-URIDate 2018-03-16

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2018-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=5&date=2018-03-01&anchor=para_33_b_i&doctype=Standard
-URIDate 2018-03-16

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2018-01-01
-Paragraph B12
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-Clause v
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2018-03-01&anchor=para_B12_b_v&doctype=Appendix&seq=2
-URIDate 2018-03-16

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
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-IssueDate 2018-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2018-03-01&anchor=para_B10_b&doctype=Appendix&seq=2
-URIDate 2018-03-16

Disclosure of short-term bank deposits [Abstract]

DISCLOSURE OF NEW STANDARDS IN THE PERIOD PRIOR TO THEIR ADOPTION (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Line Items [Line Items]
Increase in total assets		$ 35,276	$ 44,135
Increase in finance expense		2,117	1,252	$ 896
Decrease in operating expense		5,273	14,605	19,555
Increase in net loss		(1,057)	(22,149)	(18,885)
Decrease in cash flows operating activities		(12,154)	(16,455)	(16,445)
Increase in cash flows financing activities		$ 46	$ 22,995	$ 907
Effect of the initial adoption of the new Standard [Member]
Statement Line Items [Line Items]
Increase in total assets	$ 2,500
Increase in total liabilities	2,500
Decrease in lease expense	590
Increase in depreciation	530
Increase in finance expense	150
Decrease in operating expense	60
Increase in net loss	90
Decrease in cash flows operating activities	590
Increase in cash flows financing activities	$ 590

CASH AND CASH EQUIVALENTS (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash and cash equivalents [abstract]
USD cash for immediate withdrawal	$ 5,336	$ 26,700
Non-USD cash for immediate withdrawal	1,380	9,369
Cash and cash equivalents	$ 6,716	$ 36,069	$ 28,866	$ 42,502

SHORT-TERM BANK DEPOSITS (Narrative) (Details)	12 Months Ended
SHORT-TERM BANK DEPOSITS (Narrative) (Details)	Dec. 31, 2018
Minimum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Period of bank deposits	148 days
Maximum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Period of bank deposits	328 Days
Fixed interest rate [member] \| USD [member] \| Minimum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Deposit interest rate	2.34%
Fixed interest rate [member] \| USD [member] \| Maximum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Deposit interest rate	2.60%

SHORT-TERM BANK DEPOSITS (Schedule of Short-Term Bank Deposits) (Detail) - USD ($)
$ in Thousands

Dec. 31, 2018

Dec. 31, 2017

USD bank deposits

^[1]

$ 16,828

IL restricted bank deposits

^[2]

Short-term bank deposits

$ 16,917

[1]	The USD deposits bear annual interest of 2.34%-2.60% for the period of 148-328 days for 2018.
[2]	As of December 31, 2018, the Company had an amount of $ 89 that was restricted by the bank and may be used only when certain conditions are met.

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Classes of current inventories [abstract]
Raw materials	$ 432	$ 339
Finished goods	1,248	1,547
Inventories	$ 1,680	$ 1,886

OTHER RECEIVABLES (Schedule of Other Receivables) (Details) - USD ($)
$ in Thousands

Dec. 31, 2018

Dec. 31, 2017

Trade and other current receivables [abstract]

Government authorities

$ 126

$ 226

BARDA funds

2,524

2,175

Prepaid expenses and other

132

129

Former shareholder, net

^[1]

4,000

666

Related parties

Other receivables

6,840

$ 3,196

Other receivables - discontinued operations

$ 1,517

[1]	The 2018 balance includes $1,517 receivable in respect of discouninued operation ( see Note 23b).

PROPERTY, PLANT AND EQUIPMENT, NET (Schedule of Property, Plant and Equipment, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Balance	$ 1,924
Balance	2,020	$ 1,924
Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	6,068	5,083
Disposals	(62)	(74)
Additions	522	1,045
Foreign currency translation	(6)	14
Balance	6,522	6,068
Cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	248	227
Disposals	(7)
Additions	7	9
Foreign currency translation	(5)	12
Balance	243	248
Cost [Member] \| Electronic machinery and laboratory equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	3,561	2,551
Disposals
Additions	493	1,010
Foreign currency translation
Balance	4,054	3,561
Cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	139	185
Disposals	(55)	(74)
Additions	19	26
Foreign currency translation	(1)	2
Balance	102	139
Cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,120	2,120
Disposals
Additions	3
Foreign currency translation
Balance	2,123	2,120
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	4,144	3,809
Disposals	(62)	(74)
Additions	425	399
Foreign currency translation	(5)	10
Balance	4,502	4,144
Accumulated Depreciation [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	154	126
Disposals	(7)
Additions	18	20
Foreign currency translation	(4)	8
Balance	161	154
Accumulated Depreciation [Member] \| Electronic machinery and laboratory equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,802	1,508
Disposals
Additions	351	294
Foreign currency translation
Balance	2,153	1,802
Accumulated Depreciation [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	93	118
Disposals	(55)	(74)
Additions	33	47
Foreign currency translation	(1)	2
Balance	70	93
Accumulated Depreciation [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,095	2,057
Disposals
Additions	23	38
Foreign currency translation
Balance	2,118	2,095
Depreciated cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,924
Balance	2,020	1,924
Depreciated cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	94
Balance	82	94
Depreciated cost [Member] \| Electronic machinery and laboratory equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,759
Balance	1,901	1,759
Depreciated cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	46
Balance	32	46
Depreciated cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	25
Balance	$ 5	$ 25

INTANGIBLE ASSETS, NET (Schedule of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Balance	$ 635
Balance	495	$ 635
Cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	1,526	1,496
Additions	12	30
Balance	1,538	1,526
Accumulated Amortization [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	891	723
Additions	152	168
Balance	1,043	891
Amortized cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	635
Balance	$ 495	$ 635

OTHER PAYABLES (Schedule of Other Payables) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Trade and other payables [abstract]
Employees and payroll accruals	$ 1,532	$ 1,621
Current maturities of IIA grants	146	57
Related parties	227	324
Deferred revenues	198	131
Other	79	49
Other payables	$ 2,182	$ 2,182

LIABILITIES IN RESPECT OF IIA GRANTS (Narrative) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Disclosure of israeli innovation authority grants [Abstract]
Grants received net of royalties	$ 13,692
Amortized cost of grants received	$ 7,714

LIABILITIES IN RESPECT OF IIA GRANTS (Schedule of Israeli Innovation Authority Grants) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of israeli innovation authority grants [Abstract]
Balance as of January 1	$ 7,437	$ 6,888
Grants received	93	401
Royalties	(103)	(81)
Amounts carried to Profit or Loss	287	229	$ (1,298)
Balance as of Decmber 31	7,714	7,437	$ 6,888
Current maturities	(146)	(57)
Long term liabilities in respect of IIA grants	$ 7,568	$ 7,380

FINANCIAL INSTRUMENTS (Narrative) (Details)	Dec. 31, 2018
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, 2018	Dec. 31, 2017	Dec. 31, 2016
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ (182)	$ 185	$ 94
5% increase in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	31	346	11
5% decrease in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ (31)	$ (346)	$ (11)

SEVERANCE PAY LIABILTY, NET (Details)	12 Months Ended
SEVERANCE PAY LIABILTY, NET (Details)	Dec. 31, 2018
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				3 Months Ended	12 Months Ended
	Sep. 02, 2013 USD ($) shares	Sep. 30, 2018 USD ($)	Dec. 27, 2017	Jul. 31, 2017 USD ($)	Nov. 24, 2010 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 USD ($) ft² Vehicles	Dec. 31, 2018 EUR (€) ft² Vehicles	Dec. 31, 2018 ILS (₪) ft² Vehicles	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	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							$ 103			$ 81
One-time payment to purchase patents							$ 12			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							3,000	3,000	3,000
Subleases, monthly rent							$ 31
Subleases, expiration date							October 2022	October 2022	October 2022
Subleases, extention period							3 years	3 years	3 years
Number of vehicles in operating lease arrangements \| Vehicles							16	16	16
Period of vehicles operating lease arrangements							three years	three years	three years
Deposit in vehicles operating leases						$ 39	$ 39
Contingent consideration for the purchase of shares						6,330	6,330			14,381
Revaluation of contingent consideration for the purchase of shares							758			351
Provision for shares purchase price accrued interest										7,500
Accumulated funding							137
Other income from settlement agreement							7,537
Profit (loss) from discontinued operation							4,608			(7,616)
BARDA [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Accumulated funding							28,032
NexoBrid [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Funding amount		$ 12,000		$ 56,000
Procurement amount				16,500
Additional funding amount		$ 31,000		10,000
Additional procurement amount				$ 50,000
NIS [member]
Disclosure of finance lease and operating lease by lessee [line items]
Subleases, monthly rent \| ₪									₪ 116,000
Patents [Member]
Disclosure of finance lease and operating lease by lessee [line items]
One-time payment to purchase patents							12			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							$ 72			48	$ 57
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							$ 13,692
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
Teva [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Other income from settlement agreement						7,537
Profit (loss) from discontinued operation						$ 4,608
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, 2022	April 30, 2022	April 30, 2022
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, 2018 USD ($)
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	$ 1,824
2019 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	592
2020 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	476
2021 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	426
2022 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum future lease fees	$ 330

EQUITY (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 29, 2017 USD ($) shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2018 ₪ / shares shares	Dec. 31, 2017 ₪ / shares shares	Sep. 21, 2017 $ / shares shares
Disclosure of classes of share capital [line items]
Shares issued in initial public offering					27,178,839	27,047,737	5,037,664
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, 2018	Dec. 31, 2017	Sep. 21, 2017
Disclosure of classes of share capital [abstract]
Authorized number of shares	37,244,508	32,244,508
Issued and outstanding number of shares	27,178,839	27,047,737	5,037,664

SHARE-BASED COMPENSATION (Narrative) (Details)	1 Months Ended				12 Months Ended	24 Months Ended
SHARE-BASED COMPENSATION (Narrative) (Details)	Jun. 27, 2018 shares	Feb. 22, 2018 USD ($) shares	Jun. 22, 2017 USD ($) shares	Mar. 31, 2014	Dec. 31, 2018 USD ($) shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jun. 09, 2016 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options					$ 1,261,000
Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options					389,000
Employees and directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted					$ 1,650,000	$ 1,650,000	$ 172,000	$ 193,000
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						5-10 years
Vesting period						3-4 years
Employees and directors [Member] \| Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Shares reserved for issuance stock options \| shares					2,988,617	2,988,617
Shares available for future grant \| shares					579,535	579,535
Employees and directors [Member] \| Restricted Shares Unit [Member] \| 2014 Equity Incentive Plan (the "2014 Plan") [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercisable period				5-10 years
Vesting period				3-4 years
CEO [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted		$ 98,000			$ 76,000	$ 76,000			$ 39,000
Options granted \| shares	131,102	208,332			40,000
Options granted, exercise price					$ 4.63	4.63
Directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted			$ 172,000		$ 1,261,000	1,261,000
Options granted \| shares			40,000		625,000
Options granted, exercise price			$ 6.72		$ 5.15	$ 5.15
Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted \| shares					625,000
Employees [Member] \| Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted \| shares					95,833

SHARE-BASED COMPENSATION (Schedule of Expense Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 645	$ 1,363	$ 3,171
Cost of revenues [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	71	188	504
Research and development [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	181	488	752
Selling and marketing [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	63	204	765
General and administrative [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 330	$ 483	$ 1,150

SHARE-BASED COMPENSATION (Schedule of Share Options Activity) (Details)	12 Months Ended
	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($) shares
Number of Options
Outstanding Options at beginning of year	1,934,735	2,181,075	2,313,224
Option's Granted	665,000	40,000	47,500
Option's Exercised	(208,332)	(79,624)	(80,149)
Option's Forfeited	(78,154)	(206,716)	(99,500)
Outstanding options and at end of year	2,313,249	1,934,735	2,181,075
Option's Exercisable at end of year	1,475,451	1,562,235	1,401,866
Weighted Average Exercise Price
Outstanding Options at beginning of year \| $	$ 10.02	$ 9.62	$ 9.35
Option's Granted \| $	5.12	6.72	8.56
Option's Exercised \| $	2.63	0.09	0.09
Option's Forfeited \| $	9.06	8.93	10.8
Outstanding options and at end of year \| $	9.31	10.02	9.62
Option's Exercisable at end of year \| $	$ 11.23	$ 10.25	$ 9.35
Restricted Shares Unit [Member]
Number of Options
Outstanding Options at beginning of year
Option's Granted	95,833
Option's Exercised
Option's Forfeited
Outstanding options and at end of year	95,833
Option's Exercisable at end of year

SHARE-BASED COMPENSATION (Schedule of Information About Share Options Outstanding) (Details)	Dec. 31, 2018 USD ($) shares Years	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	2,313,249	1,934,735	2,181,075	2,313,224
Weighted Average Remaining contractual life \| Years	6.56
Weighted average exercise price \| $	$ 9.31	$ 10.02	$ 9.62	$ 9.35
4.63 - 5.15 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	665,000
Weighted Average Remaining contractual life \| Years	9.65
Weighted average exercise price \| $	$ 5.12
7.26 - 9.82 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	829,348
Weighted Average Remaining contractual life \| Years	5.69
Weighted average exercise price \| $	$ 9.08
12.89 - 13.76 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	818,900
Weighted Average Remaining contractual life \| Years	4.92
Weighted average exercise price \| $	$ 12.94

SHARE-BASED COMPENSATION (Schedule of Estimated Using Acceptable Option Pricing Models) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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%
Early exercise factor (%)	0.00%	150.00%
Weighted average share prices (Dollar)	$ 4.07	$ 7.8	$ 8.56
Bottom of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility of the share prices (%)	44.00%
Risk-free interest rate (%)	1.63%	1.22%	0.28%
Early exercise factor (%)	100.00%		100.00%
Top of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility of the share prices (%)	54.00%
Risk-free interest rate (%)	2.69%	2.15%	2.00%
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, 2018	Dec. 31, 2017	Dec. 31, 2016
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		$ 133,000
Other temporary differences mainly from R&D expenses		$ 133,000
Israel [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		23.00%	24.00%	25.00%
Germany [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		29.79%	30.53%	29.72%

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about business combination [line items]
Loss from discontinued operation			$ 4,608	$ (7,616)
Provision for other payable on discountine operations			$ 6,003	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, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 2,212	$ 2,073	$ 2,112
Subcontractors	72	121	66
Depreciation and amortization	474	457	475
Cost of materials	468	535	410
Other manufacturing expenses	783	989	892
Decrease (increase) in inventory of finished products	299	(999)	780
Allotment of manufacturing costs to R&D	(2,220)	(1,598)	(2,577)
Cost of revenues	$ 2,088	$ 1,578	$ 2,158

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Research Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 3,703	$ 3,840	$ 3,171
Subcontractors	11,423	8,780	8,517
Depreciation and amortization	51	42	28
Cost of materials	309	223	351
Allotment of manufacturing costs	2,220	1,598	2,577
Other research and development expenses	209	142	135
Research and development, gross	17,915	14,625	14,779
Participations:
BARDA funds	(13,238)	(8,565)	(5,566)
Revaluation of liabilities in respect of IIA grants	(605)	(598)	(2,145)
Research and development, net of participations	$ 4,072	$ 5,462	$ 7,068

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Selling Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share based compensation)	$ 2,343	$ 3,062	$ 5,438
Marketing and medical support	1,055	1,628	2,444
Depreciation and amortization	9	12	18
Shipping and delivery	192	236	111
Registration and marketing license fees	589	424	392
Selling and marketing	$ 4,188	$ 5,362	$ 8,403

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of General Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 2,035	$ 2,032	$ 2,361
Professional fees	1,361	1,224	1,241
Depreciation and amortization	43	56	66
Other	360	469	416
General and administrative expenses	$ 3,799	$ 3,781	$ 4,084

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Financial Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Financial income:
Interest income	$ 412	$ 349	$ 414
Revaluation of contingent consideration for the purchase of shares			1,621
Exchange differences, net		57	131
Financial income	412	406	2,166
Financial expense:
Interest in respect of IIA grants	892	827	847
Revaluation of contingent consideration for the purchase of shares	758	351
Exchange differences, net	219
Finance expenses in respect of deferred revenue	164
Other	84	74	49
Financial expense	$ 2,117	$ 1,252	$ 896

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings per share [abstract]
Basic and diluted loss from continuing operation, Weighted average number of shares	27,113,617	23,341,040	21,862,169
Basic and diluted loss from continuing operation, Loss	$ (5,665)	$ (14,533)	$ (18,885)
Basic and diluted profit (loss) from discontinued operation, Weighted average number of shares	27,113,617	23,341,040
Basic and diluted profit (loss) from discontinued operation, Loss	$ 4,608	$ (7,616)

NET LOSS PER SHARE (Schedule of Net Profit (Loss) Per Share from Continuing and Discontinued Operations) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Basic and Diluted loss per share:
Net loss from continuing operations	$ (0.21)	$ (0.62)	$ (0.86)
Profit (loss) from discontinued operation	0.17	(0.33)
Total Basic and diluted net loss per share	$ (0.04)	$ (0.95)	$ (0.86)

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [line items]
Professional fee		$ 1,361	$ 1,224	$ 1,241
Purchasing of patent		12	30	30
Patents [Member]
Disclosure of transactions between related parties [line items]
Purchasing of patent		12	30	30
KeyOfficer [Member]
Disclosure of transactions between related parties [line items]
Professional fee		$ 537	$ 691	$ 420
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, 2018

Dec. 31, 2017

Parent Company [Member]

Disclosure of transactions between related parties [line items]

Payables

^[1]

$ 186

$ 238

Recievable

^[1]

Other related parties [Member]

Disclosure of transactions between related parties [line items]

Payables

Recievable

^[1]

$ 58

[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, 2018

Dec. 31, 2017

Dec. 31, 2016

Disclosure of transactions between related parties [line items]

Professional Fee

$ 1,361

$ 1,224

$ 1,241

Parent Company [Member]

Disclosure of transactions between related parties [line items]

Professional Fee

^[1]

Rent expenses and other

292

817

804

Other related parties [Member]

Disclosure of transactions between related parties [line items]

Professional Fee

^[1]

162

^[2]

225

159

Rent expenses and other

$ (246)

^[2]

[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 and $537 for the years 2016, 2017 and 2018, respectively, as well as payment for the purchasing of a patent in amount of $12, $30 and $30 for the years 2016, 2017 and 2018, respectively (see note 15c).
[2]	Comprise of participation in building maintenance on amount of $246.

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS (Schedule of Compensation of Officers of Company) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) Officers	Dec. 31, 2017 USD ($) Officers	Dec. 31, 2016 USD ($) Officers
Disclosure of transactions between related parties [abstract]
Short-term employee benefits	$ 2,304	$ 2,324	$ 2,108
Share-based compensation	276	731	1,445
Compensation of officers	$ 2,580	$ 3,055	$ 3,553
Number of officers \| Officers	6	6	7

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	Jan. 02, 2019	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 24, 2019
Disclosure of non-adjusting events after reporting period [line items]
Revenues			$ 3,401	$ 2,496	$ 1,558
Other income from settlement agreement			7,537
Profit (loss) from discontinued operation			4,608	$ (7,616)
NexoBrid [Member]
Disclosure of non-adjusting events after reporting period [line items]
Revenues	$ 10,200
Teva [Member]
Disclosure of non-adjusting events after reporting period [line items]
Threshhold claim amount						$ 10,000
Teva [Member]
Disclosure of non-adjusting events after reporting period [line items]
Cash consideration		$ 4,000	$ 4,000
Other income from settlement agreement		7,537
Profit (loss) from discontinued operation		$ 4,608