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The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

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

+ References + Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2019-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2019-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2019-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2019-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2019-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2019-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2019-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2019-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2019-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2019-03-27

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2019-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2019-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2019-03-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_23&doctype=Standard
-URIDate 2019-03-27

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2019-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2019-03-27

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2019-03-27

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2021-01-01
-Name IFRS
-Number 17
-IssueDate 2019-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2019-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2019-03-27

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2019-03-27

+ Details

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Amortization Periods of Right-of-Use Assets) (Details)	12 Months Ended
	Dec. 31, 2019
Motor vehicles [member]
Disclosure of quantitative information about right-of-use assets [line items]
Amortization periods of the right-of-use assets	3
Building and Equipment [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Amortization periods of the right-of-use assets	5-8

MATERIAL AGREEMENTS (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended	12 Months Ended
MATERIAL AGREEMENTS (Details) - USD ($) $ in Thousands	May 06, 2019	Jan. 31, 2020	May 31, 2019	Sep. 30, 2018	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of contingent liabilities [line items]
Royalty payments						$ 635	$ 103
Revenues from sale or license						17,718	176	$ 118
Research and development						4,969	4,072	5,462
Revenues from development services						10,678
Revenues from sales						3,393	$ 3,225	$ 2,378
BARDA [Member]
Disclosure of contingent liabilities [line items]
Contract amount for development and manufacturing of Nexobrid						153,000
Revenues from sale or license					$ 17,500
Accumulated funding				$ 196,000		42,958
Research and development						31,955
Revenues from development services						10,678
Revenues from sales						325
BARDA [Member] \| For development costs of NexoBrid [Member]
Disclosure of contingent liabilities [line items]
Accumulated funding			$ 21,000			$ 77,000
NexoBrid [Member]
Disclosure of contingent liabilities [line items]
Funding amount				12,000
Procurement amount		$ 16,500
Additional funding amount		10,000		$ 31,000
Additional procurement amount		$ 50,000
License Agreement with Vericel [Member]
Disclosure of contingent liabilities [line items]
Upfront payment	$ 17,500
Additional upfront payment	7,500
License Agreement with Vericel [Member] \| Maximum [Member]
Disclosure of contingent liabilities [line items]
Additional upfront payment	$ 125,000

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2019

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 (which approximates actual cost on a weighted average basis) including materials, labor and other direct and indirect manufacturing costs based on practical capacity.

Liability in respect of IIA:

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.

Leases:

As described in Note 10 regarding the initial adoption of IFRS 16, "Leases" ("the Standard"), the Company elected to apply the provisions of the Standard using the modified retrospective method (without restatement of comparative data).

The accounting policy for leases applied effective from January 1, 2019, is as follows:

The Company accounts for a contract as a lease when the contract terms convey the right to control the use of an identified asset for a period of time in exchange for consideration.

For leases in which the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease liability, excluding leases whose term is up to 12 months and leases for which the underlying asset is of low value. For these excluded leases, the Company has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease term. In measuring the lease liability, the Company has elected to apply the practical expedient in the Standard and does not separate the lease components from the non-lease components (such as management and maintenance services, etc.) included in a single contract.

On the commencement date, the lease liability includes all unpaid lease payments discounted at the interest rate implicit in the lease, if that rate can be readily determined, or otherwise using the Company's incremental borrowing rate. After the commencement date, the Company measures the lease liability using the effective interest rate method.

On the commencement date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made on or before the commencement date and initial direct costs incurred. The right-of-use asset is measured applying the cost model and depreciated over the shorter of its useful life and the lease term.

Following are the amortization periods of the right-of-use assets by class of underlying asset:

	Years
Motor vehicles		3
Buildings and equipment		5-8

The Company tests for impairment of the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.

•

Variable lease payments that depend on an index:

On the commencement date, the Company uses the index rate prevailing on the commencement date to calculate the future lease payments.

For leases in which the Company is the lessee, the aggregate changes in future lease payments resulting from a change in the index are discounted (without a change in the discount rate applicable to the lease liability) and recorded as an adjustment of the lease liability and the right-of-use asset, only when there is a change in the cash flows resulting from the change in the index (that is, when the adjustment to the lease payments takes effect).

•

Lease extension and termination options:

A non-cancelable lease term includes both the periods covered by an option to extend the lease when it is reasonably certain that the extension option will be exercised and the periods covered by a lease termination option when it is reasonably certain that the termination option will not be exercised.

In the event of any change in the expected exercise of the lease extension option or in the expected non-exercise of the lease termination option, the Company remeasures the lease liability based on the revised lease term using a revised discount rate as of the date of the change in expectations. The total change is recognized in the carrying amount of the right-of-use asset until it is reduced to zero, and any further reductions are recognized in profit or loss.

•

Lease modifications:

If a lease modification does not reduce the scope of the lease and does not result in a separate lease, the Company remeasures the lease liability based on the modified lease terms using a revised discount rate as of the modification date and records the change in the lease liability as an adjustment to the right-of-use asset.

If a lease modification reduces the scope of the lease, the Company recognizes a gain or loss arising from the partial or full reduction of the carrying amount of the right-of-use asset and the lease liability. The Company subsequently remeasures the carrying amount of the lease liability according to the revised lease terms, at the revised discount rate as of the modification date and records the change in the lease liability as an adjustment to the right-of-use asset.

The accounting policy for leases applied until December 31, 2018, is as follows:

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 Group 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
Manufacturing machinery and lab equipment		7 - 15
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.

The useful life, depreciation method and residual value of an asset are reviewed at least each year-end and any changes are accounted for prospectively as a change in accounting estimate.

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.

Revenues recognition:

On January 1, 2018, the Company initially adopted IFRS 15, "Revenues from Contracts with Customers" ("the Standard"), 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 elected to apply the provisions of the Standard using the modified retrospective method with the application of certain practical expedients and without restatement of comparative data. 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 accounting policy for Revenues recognition applied from January 1, 2018, is as follows:

Revenues recognition:

Revenues from contracts with customers is recognized when the control over the goods or services is transferred to the customer. The transaction price is the amount of the consideration that is expected to be received based on the contract terms, excluding amounts collected on behalf of third parties (such as taxes).

Revenues from the sale of products:

The Company generates revenues from sales of its innovative biopharmaceutical product, NexoBrid, to burn centers and hospital burn units in Europe, Israel and local distributors in international markets.

Revenues 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.

Revenues from development services:

Revenues from development services is recognized over time, during the period the customer receives and consumes the benefits provided by the Company's performance. The Company charges its customers based on payment terms agreed upon inspecific agreements. When payments are made before or after the service is performed, the Company recognizes the resulting contract asset or liability.

Revenues from license agreements:

The Company determine whether the license to the Intellectual Property ("IP") is right to use the IP, which has significant standalone functionality or a right to access, which does not have a stand alone value. The Company recognizes Revenues from licensing transactions at a point in time when the Company provides the customer a right to use the Company's intellectual property as it exists.

The Company recognizes Revenues from licensing transactions over time when the Company provides the customer a right to access the Company's intellectual property throughout the license period.

Combination of contracts:

The Company accounts for multiple contracts as a single contract when all the contracts are signed at or near the same time with the same customer or with related parties of the customer, and when one of the following criteria is met:

The contracts are negotiated as a package with a single commercial objective.

The amount of consideration to be paid in one contract depends on the consideration or performance of another contract.

The goods or services that the Company will provide according to the contracts represent a single performance obligation for the Company.

Variable consideration:

The Company determines the transaction price separately for each contract with a customer. When exercising this judgment, the Company evaluates the effect of each variable amount in the contract, taking into consideration discounts, penalties, variations, claims, non-cash consideration and the nature of multiple phases of the product lifecycle. In determining the effect of the variable consideration, the Company uses the "most likely amount" method described in the Standard. Pursuant to this method, the amount of the consideration is determined as the single most likely amount in the range of possible consideration amounts in the contract. According to the Standard, variable consideration is included in the transaction price only to the extent that it is highly probable that a significant reversal in the amount of Revenues recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.

Allocating the transaction price:

For contracts that consist of more than one performance obligation, at contract inception the Company allocates the contract transaction price to each performance obligation identified in the contract on a relative stand-alone selling price basis. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. The stand-alone selling price is the price at which the Company would sell the promised goods or services separately to a customer. When the stand-alone selling price is not directly observable by reference to similar transactions with similar customers, the Company applies suitable methods for estimating the stand-alone selling price including: the adjusted market assessment approach, the expected cost plus a margin approach and the residual approach. The Company may also use a combination of these approaches to allocate the transaction price in the contract.

The accounting policy for Revenues recognition applied until December 31, 2017, was as follows:

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 license 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 Revenues 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.

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.

Funding by BARDA:

Non-royalty bearing funds from BARDA for funding research and development projects were recognized at the time the Company was entitled to such grants on the basis of the related costs incurred.

The participation by BARDA was classified as reimbursement (deduction) of research and development expenses. Starting in May 2019, following entrance into the Vericel license and supply agreements, in which Vericel has consumed the effective control over the BARDA contracts, funding by BARDA was classified as Revenues from development services.

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.

The accounting policy for financial instruments applied commencing from January 1, 2018, is as follows:

Financial assets:

Financial assets are measured upon initial recognition at fair value plus transaction costs that are directly attributable to the acquisition of the financial assets, except for financial assets measured at fair value through profit or loss in respect of which transaction costs are recorded in profit or loss.

The Company classifies and measures debt instruments in the financial statements based on the following criteria:

The Company's business model for managing financial assets; and

The contractual cash flow terms of the financial asset.

Debt instruments are measured at amortized cost when:

The Company's business model is to hold the financial assets in order to collect their contractual cash flows, and the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. After initial recognition, the instruments in this category are measured according to their terms at amortized cost using the effective interest rate method, less any provision for impairment.

On the date of initial recognition, the Company may irrevocably designate a debt instrument as measured at fair value through profit or loss if doing so eliminates or significantly reduces a measurement or recognitioninconsistency, such as when a related financial liability is also measured at fair value through profit or loss.

Impairment of financial assets:

The Company evaluates at the end of each reporting period the loss allowance for financial debt instruments which are not measured at fair value through profit or loss.

The Company has short-term financial assets such as trade receivables in respect of which the Company applies a simplified approach and measures the loss allowance in an amount equal to the lifetime expected credit losses.

An impairment loss on debt instruments measured at amortized cost is recognized in profit or loss with a corresponding loss allowance that is offset from the carrying amount of the financial asset.

Financial liabilities:

Financial liabilities measured at amortized cost:

Financial liabilities are initially recognized at fair value less transaction costs that are directly attributable to the issue of the financial liability.

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

After initial recognition, the Company measures all financial liabilities at amortized cost using the effective interest rate method, except for Financial liabilities at fair value through profit or loss such as derivatives;

Financial liabilities measured at fair value through profit or loss:

At initial recognition, the Company measures financial liabilities that are not measured at amortized cost at fair value. Transaction costs are recognized in profit or loss.

After initial recognition, changes in fair value are recognized in profit or loss.

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.

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.

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 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.

The Company recognizes liability for severance pay due to its employees in EU in accordance with local laws.

Share-based compensation:

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

Equity-settled transactions

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

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

Discontinued operation:

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

Reclassification

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

LIABILITIES IN RESPECT OF IIA GRANTS (Narrative) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Disclosure of israeli innovation authority grants [Abstract]
Grants received net of royalties	$ 13,570
Amortized cost of grants received	$ 6,935

SHARE-BASED COMPENSATION (Schedule of Share Options Activity) (Details)	12 Months Ended
	Dec. 31, 2019 shares $ / shares	Dec. 31, 2018 shares $ / shares	Dec. 31, 2017 shares $ / shares
Number of Options
Outstanding Options at beginning of year	2,313,249	1,934,735	2,181,075
Option's Granted	95,000	665,000	40,000
Option's Exercised		(208,332)	(79,624)
Option's Forfeited and/or expired	(73,817)	(78,154)	(206,716)
Outstanding options and at end of year	2,334,432	2,313,249	1,934,735
Option's Exercisable at end of year	1,753,803	1,475,451	1,562,235
Weighted Average Exercise Price
Outstanding Options at beginning of year \| $ / shares	$ 9.31	$ 10.02	$ 9.62
Option's Granted \| $ / shares	4.45	5.12	6.72
Option's Exercised \| $ / shares		2.63	0.09
Option's Forfeited and/or expired \| $ / shares	5.17	9.06	8.93
Outstanding options and at end of year \| $ / shares	9.18	9.31	10.02
Option's Exercisable at end of year \| $ / shares	$ 4.76	$ 11.23	$ 10.25
Restricted Shares Unit [Member]
Number of Options
Outstanding Options at beginning of year	95,833
Option's Granted	36,667	95,833
Option's Forfeited and/or expired
Option's Vested	(23,956)
Outstanding options and at end of year	108,544	95,833

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

12 Months Ended

Dec. 31, 2019

Disclosure of transactions between related parties [abstract]

Schedule of Balances of Related Parties

	Other		Other
	Payables		Recievable
Parent Company (1):

As of December 31, 2018		186		-
As of December 31, 2019		119		-

Other related parties:

As of December 31, 2018		41		58
As of December 31, 2019		95		-

Schedule of Transactions with Related Parties

Transactions with related parties:

	Professional Fee (1)		Rent expenses and other
Parent company:
2017		35		817
2018		44		292
2019		52		415

Other related parties:
2017		225		-
2018		162		(246	)
2019		249		(59	)

(1)

Professional fees do not include short-term employee benefits and share-based compensation to one of the Company's shareholders, who is a key officer, in the amounts of $691, $537 and $450 for the years 2017, 2018 and 2019, respectively, as well as payment for the purchasing of a patent in amount of $30 and $12 for the years 2017 and 2018, respectively.

Schedule of Compensation of Officers of Company

	Year ended December 31,
	2017		2018		2019

Short-term employee benefits (*)		2,324		2,304		2,533
Share-based compensation		731		276		565

		3,055		2,580		3,098

Number of officers		6		6		7

(*) The amount for 2019 includes one-time payments for previous-CEO on the amount of $196.

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2019

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, 2019:

	Office furniture			Manufacturing machinery and lab equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2019		243			4,054		102			2,123		6,522
Disposals		-			-		(38	)		-		(38	)
Additions		60			480		60			192		792
Foreign currency translation		(2	)		-		-			-		(2	)

Balance as of December 31, 2019		301			4,534		124			2,315		7,274

Accumulated Depreciation

Balance as of January 1, 2019		161			2,153		70			2,118		4,502
Disposals		-			-		(38	)		-		(38	)
Additions		16			453		28			11		508
Foreign currency translation		(2	)		-		-			-		(2	)

Balance as of December 31, 2019		175			2,606		60			2,129		4,970

Depreciated cost
December 31, 2019		126			1,928		64			186		2,304

Balance as of December 31, 2018:

	Office furniture			Manufacturing machinery and lab 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
December 31, 2018		82			1,901		32			5		2,020

INTANGIBLE ASSETS, NET (Schedule of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Balance	$ 495
Balance	429	$ 495
Cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	1,538	1,526
Additions		12
Balance	1,538	1,538
Accumulated Amortization [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	1,043	891
Additions	66	152
Balance	1,109	1,043
Amortized cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance	495
Balance	$ 429	$ 495

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Geographical Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 31,789	$ 3,401	$ 2,496
USA [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	28,504
Others [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 3,285	$ 3,401	$ 2,496

- Definition

Expiry date 2020-01-01: 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. Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2019-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2019-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_32&doctype=Standard
-URIDate 2019-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2019-03-27

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_34&doctype=Standard
-URIDate 2019-03-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2019-03-27

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 103
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_103&doctype=Standard
-URIDate 2019-03-27

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 102
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_102&doctype=Standard
-URIDate 2019-03-27

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2019-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2019-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2019-03-27

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2019-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2019-03-27

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2019-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2019-03-27

+ Details

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Selling Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share based compensation)	$ 2,028	$ 2,343	$ 3,062
Marketing and medical support	1,298	1,055	1,628
Depreciation and amortization	49	9	12
Shipping and delivery	200	192	236
Registration and marketing license fees	489	589	424
Selling and marketing	$ 4,064	$ 4,188	$ 5,362

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, 2019	Dec. 31, 2018	Dec. 31, 2017
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		$ 119,000
Other temporary differences mainly from R&D expenses		$ 119,000
Israel [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		23.00%	23.00%	24.00%
Germany [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		29.79%	29.79%	30.53%

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Depreciation on Straight-line Basis Over Useful Life of Assets) (Details)	12 Months Ended
	Dec. 31, 2019
Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of assets at annual rates (in %)	6 - 15
Manufacturing machinery and lab equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of assets at annual rates (in %)	7 - 15
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.

FINANCIAL INSTRUMENTS (Narrative) (Details)	Dec. 31, 2019
Interest rate for a loan [Member]
Disclosure of detailed information about financial instruments [line items]
Discount rate	12.00%

EQUITY

12 Months Ended

Dec. 31, 2019

Disclosure of classes of share capital [abstract]

EQUITY

NOTE 18:-

EQUITY

Share capital

	Year ended December 31,
	2018		2019

Authorized number of shares		37,244,508		50,000,000

Issued and outstanding number of shares		27,178,839		27,202,795

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.

In September 21, 2017, the Company completed a follow-on public offering.

Movement in share capital:

•

During the year, the authorized number of shares was increased by 12,755,492 shares.

•

On December 31, 2019, the company issued additional 23,956 ordinary shares upon vesting of outstanding RSU’s.

EQUITY (Tables)

12 Months Ended

Dec. 31, 2019

Equity

Schedule of Share Capital

Share capital

	Year ended December 31,
	2018		2019

Authorized number of shares		37,244,508		50,000,000

Issued and outstanding number of shares		27,178,839		27,202,795

OTHER PAYABLES (Schedule of Other Payables) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Trade and other payables [abstract]
Liability in respect for purchase of shares (see Note 16c)	$ 1,723	$ 1,532
Former shareholder (see Note 16b)	3,167
Related parties	214	227
Deferred Revenues	249	198
Other	384	79
Other payables	$ 5,737	$ 2,036

MATERIAL AGREEMENTS

12 Months Ended

Dec. 31, 2019

Disclosure of material agreements [Abstract]

MATERIAL AGREEMENTS

NOTE 17:-

MATERIAL AGREEMENTS

The Company has awarded a contract with BARDA which was modified in July 2017 and again in May 2019, providing supplemental funds and support. The amended contract valued up to $153 million. The contract is for the advancement of the development and manufacturing, as well as the procurement of NexoBrid as a medical countermeasure as part of BARDA preparedness for mass casualty events. The modified contract includes $77 million of funding to support development activities to complete the FDA approval process for NexoBrid for use in thermal burn injuries, as well as procurement of NexoBrid.

On January 2020, BARDA initiated the procurement of NexoBrid for emergency stockpile as part of the HHS mission to build national preparedness for public health medical emergencies. The initial BARDA order is valued at $16,500, with the first delivery of NexoBrid expected during 2020 and additional deliveries occurring over the subsequent five quarters. The First BARDA Contract also includes options for BARDA (i) to further fund $10 million in development activities for other potential NexoBrid indications, and (ii) to further fund $50,000 for additional procurement of NexoBrid.

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 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.

The total potential value of funding commitments from BARDA under the two contracts is currently $196,000, in the aggregate.

As of December 31, 2019, the Company has recorded $42,958 in funding, in the aggregate, from BARDA under the two contracts. The participation by BARDA comprises $31,955 which was classified as reimbursement of research and development expenses. Starting in May 2019, following entrance into the Vericel license and supply agreements, participation by BARDA in the amount of $10,678 was classified as Revenues from development services. In addition, clinical supply in the amount of $325 was recorded as Revenues from sales of products.

b. On May 6, 2019, the Company entered into exclusive license and supply agreements with Vericel to commercialize NexoBrid in North America (the “Collaboration Agreements”).

Pursuant to the Collaboration Agreements, Vericel will obtain the authority over and control of the development, regulatory approval and commercialization of licensed products in the North America territory. MediWound will be responsible for the development of the product through BLA approval, supported and funded by BARDA, as well as the manufacture and supply of NexoBrid. In addition, MediWound retains the commercial rights to NexoBrid in non-North American territory.

Under the terms of the license agreement, Vericel has made an upfront payment to MediWound of $17,500 and agreed to make an additional $7,500 payment contingent upon BLA approval and up to $125,000 in payments contingent upon meeting certain annual sales milestones. Vericel has also agreed to pay MediWound tiered royalties on net sales ranging from high single-digit to teen-digit percentages, a split of gross profit on committed BARDA procurement orders and a teen-digits royalty on any additional future BARDA purchases of NexoBrid. Under the terms of the supply agreement, Vericel will procure NexoBrid from MediWound at a transfer price of cost plus a fixed margin percentage.

The Collaboration Agreements have multiple performance obligations, due to the contract covering multiple phases of the product lifecycle. Under the Vericel licnese and supply agreements, the Company identified three distinct performance obligations: (i) license rights (ii) development services for BLA approval and (iii) manufacturing and supply of NexoBrid.

The Company allocated the Collaboration Agreements transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct good or service in the contract.

The Company determined the license to the Intellectual Property ("IP") to be a right to use the IP, which has significant standalone functionality. Since Vericel has sublicensing rights, effective control over the development strategy in the Territoty and also entitled to generate Revenues from BARDA procurement prior to BLA approval, the license is a distinct performance obligation and as such Revenues are recognized at the point in time that control of the license is transferred to the customer. Since the manufacturing and development services are at market value, then the upfront payment was fully attributed to the license performance obligation. Consequently, during the second quarter the Company has recognized Revenues in the amount of $17,500.

Future milestone payments are considered variable consideration and are subject to the variable consideration constraint (i.e. will be recognized once concluded that it is “probable” that a significant reversal of the cumulative Revenues recognized under the contract will not occur in future periods when the uncertainty related to the variable considerations are resolved). Therefore, as the milestone payments are not probable, Revenues were not recognized in respect to such milestone payments.

Sales related royalties to be received in exchange for license are recognized at the later of when (i) the subsequent sale occurs or (ii) the performance obligation to which some or all of the sales royalty has been allocated is satisfied (in whole or in part). As royalties are payable based on future commercial sales, as defined in the agreement, which did not occur as of the financial statements date, the Company did not recognize any Revenues from royalties.

Revenues from the sale of products to Vericel will be 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.

Under the Vericel license agreement, in which Vericel has consumed effective control over the BARDA contracts. As a result, participation from BARDA for funding research and development projects are now classified as Revenues from development services.

In Addition, the Revenues drerived by procurement from BARDA will be recognized on their net amount.

GENERAL (Details)	12 Months Ended
GENERAL (Details)	Dec. 31, 2019
PolyHeal Ltd. [Member]
Disclosure of associates [line items]
Ownership percentage	10.00%

SHORT-TERM BANK DEPOSITS (Narrative) (Details)	12 Months Ended
SHORT-TERM BANK DEPOSITS (Narrative) (Details)	Dec. 31, 2019
Minimum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Period of bank deposits	357 days
Maximum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Period of bank deposits	368 Days
Fixed interest rate [member] \| USD [member] \| Minimum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Deposit interest rate	2.48%
Fixed interest rate [member] \| USD [member] \| Maximum [Member]
Disclosure of financial instruments by type of interest rate [line items]
Deposit interest rate	3.10%

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, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Professional fee		$ 1,628	$ 1,361	$ 1,224
Purchasing of patent			12	30
Patents [Member]
Disclosure of transactions between related parties [line items]
Purchasing of patent			12	30
KeyOfficer [Member]
Disclosure of transactions between related parties [line items]
Professional fee		$ 450	$ 537	$ 691
Chief Executive Officer and Chief Medical Officer [Member]
Disclosure of transactions between related parties [line items]
One-time bonus payments	$ 120

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

Dec. 31, 2019

Dec. 31, 2018

Disclosure of short-term bank deposits [Abstract]

USD bank deposits

^[1]

$ 22,036

$ 16,828

Restricted bank deposits

^[2]

180

Short-term bank deposits

$ 22,216

$ 16,917

[1]	The USD deposits bear annual interest of 2.48%-3.10% for the period of 357-368 days for 2018.
[2]	Restricted bank deposit which may be used only when certain conditions are met.

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

12 Months Ended

Dec. 31, 2019

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

Schedule of Geographical Information

The revenues reported in the financial statements are based on the location of the customers, as follows:

	Year ended December 31,
	2017		2018		2019

USA ( see also Note 17b, 17c)		-		-		28,504
Others		2,496		3,401		3,285

		2,496		3,401		31,789

Schedule of Cost of Revenues Products

Cost of revenues from sale of products

	Year ended December 31,
	2017			2018			2019

Salary and benefits (including share-based compensation)		2,073			2,212			1,916
Subcontractors		121			72			89
Depreciation and amortization		457			474			512
Cost of materials		535			468			456
Other manufacturing expenses		989			783			657
Decrease (increase) in inventory of finished products		(999	)		299			344
Allotment of manufacturing costs to R&D		(1,598	)		(2,220	)		(1,621	)

		1,578			2,088			2,353

Schedule of Cost of Revenues Services

Cost of revenues from development services

	Year ended December 31,
	2017		2018		2019

Salary and benefits		-		-		1,404
Subcontractors		-		-		7,412

		-		-		8,816

Schedule of Cost of Revenues License

Cost of revenues from license agreements

	Year ended December 31,
	2017		2018		2019

Royalties payments		-		-		680

		-		-		680

Schedule of Research Expenses

Research and development expenses, net of participations:

	Year ended December 31,
	2017			2018			2019

Salary and benefits (including share-based compensation)		3,840			3,703			2,965
Subcontractors		8,780			11,423			4,694
Depreciation and amortization		42			51			342
Cost of materials		223			309			311
Allotment of manufacturing costs		1,598			2,220			1,621
Other research and development expenses		142			209			137

Research and development, gross		14,625			17,915			10,070

Participations:
BARDA funds		(8,565	)		(13,238	)		(3,785	)
Revaluation of liabilities in respect of IIA grants		(598	)		(605	)		(1,316	)

		5,462			4,072			4,969

Schedule of Selling Expenses

Selling and marketing expenses:

	Year ended December 31,
	2017		2018		2019

Salary and benefits (including share based compensation)		3,062		2,343		2,028
Marketing and medical support		1,628		1,055		1,298
Depreciation and amortization		12		9		49
Shipping and delivery		236		192		200
Registration and marketing license fees		424		589		489

		5,362		4,188		4,064

Schedule of General Expenses

General and administrative expenses:

	Year ended December 31,
	2017		2018		2019

Salary and benefits (including share‑based compensation)		2,032		2,035		2,621
Professional fees		1,224		1,361		1,628
Depreciation and amortization		56		43		247
Other		469		360		746

		3,781		3,799		5,242

Schedule of Financial Expense

Financial income and expense:

	Year ended December 31,
	2017		2018		2019
Financial income:
Interest income		349		412		434
Exchange differences, net		57		-		122

		406		412		556
Financial expense:
Interest in respect of IIA grants		827		892		925
Revaluation of liabilities in respect of IFRS16		-		-		140
Revaluation of contingent consideration for the purchase of shares		351		758		1,690
Exchange differences, net		-		219		-
Finance expenses in respect of deferred Revenue		-		164		161
Other		74		84		67

		1,252		2,117		2,983

LEASES (Schedule of Information on Leases) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Leases
Interest expense on lease liabilities	$ 139
Expenses relating to short-term leases	444
Total cash outflow for leases	$ 630

CONTINGENT LIABILITIES AND COMMITMENTS (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	12 Months Ended
	Sep. 02, 2013	Mar. 30, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of contingent liabilities [line items]
Royalty payments				$ 635	$ 103
Revenues from sale or license				17,718	176	$ 118
Other income from settlement agreement					7,537	0
Profit (loss) from discontinued operation				2,889	4,608	(7,616)
Revaluation of contingent consideration for the purchase of shares				1,690	758	351
Contingent consideration for the purchase of shares			$ 4,853	4,853	6,330	14,381
Third party [Member] \| Patents and intellectual property [Member]
Disclosure of contingent liabilities [line items]
License costs				$ 950
Percentage of royalties to pay for future revenues from sales of products				1.5% to 2.5%
Period of royalties to pay for future revenues from sales of products				10 to 15 years
One-time lump-sum amount				$ 1,500
Aggregate revenues				100,000
Royalty payments				$ 732	$ 72	$ 48
Third party [Member] \| Patents and intellectual property [Member] \| Sub-licensing of patents [Member]
Disclosure of contingent liabilities [line items]
Percentage of royalties to pay for future revenues from sales of products				10% - 20%
Teva [Member]
Disclosure of contingent liabilities [line items]
Settlement amount paid by Teva		$ 4,000
Reduced rate of payments		15.00%
Reduced aggregate amount		$ 10,200
Collaboration agreements amount related to Polyheal		$ 10,200
Other income from settlement agreement			7,537
Profit (loss) from discontinued operation			$ 4,608
Teva [Member] \| Ordinary shares [Member]
Disclosure of contingent liabilities [line items]
Number of shares repurchased	755,492
Percentage of future royalty payments	20.00%
NexoBrid [Member]
Disclosure of contingent liabilities [line items]
Revenues from sale or license	$ 30,600
Polyheal [Member]
Disclosure of contingent liabilities [line items]
Revenues from sale or license	$ 10,800
R&D Law [Member]
Disclosure of contingent liabilities [line items]
Percentage of royalties to pay for future revenues from sales of products				3%
Royalty payments				$ 13,570
Maximum aggregate royalties paid in percentage				100.00%
Interest rate				12-month LIBOR

OTHER PAYABLES

12 Months Ended

Dec. 31, 2019

Trade and other payables [abstract]

OTHER PAYABLES

NOTE 12:-

OTHER PAYABLES

	Year ended December 31,
	2018		2019

Liability in respect for purchase of shares (see Note 16c)		1,532		1,723
Former shareholder ( see Note 16b )		-		3,167
Related parties		227		214
Deferred Revenues		198		249
Other		79		384

		2,036		5,737

DISCONTINUED OPERATION (Details) - USD ($) $ in Thousands	1 Months Ended					12 Months Ended
DISCONTINUED OPERATION (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2017	Sep. 15, 2014	Nov. 15, 2012	Dec. 31, 2010	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about business combination [line items]
Gain Loss from discontinued operation						$ 2,889	$ 4,608	$ (7,616)
Provision for other payable on discountinue operations							$ 6,003
License for Polyheal Products [Member]
Disclosure of detailed information about business combination [line items]
Additional Investment				$ 6,750
Consideration paid		$ 1,497	$ 1,475
New PolyHeal Settlement Agreements [Member]
Disclosure of detailed information about business combination [line items]
Consideration paid	$ 2,800
Gain Loss from discontinued operation	$ 2,889
Shares received of Polyheal	14,473
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
Provision for other payable on discountinue operations						$ 275

NET PROFIT (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2019

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,
	2017					2018					2019
	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		(14,533	)		27,113,617		(5,665	)		27,178,839		2,066

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,
	2017					2018				2019
	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		27,178,839		2,889

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

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

	Year ended December 31,
	2017			2018			2019
Basic and Diluted loss per share:
Profit (loss) from from continuing operations		(0.62	)		(0.21	)		0.08

Profit (loss) from discontinued operation		(0.33	)		0.17			0.10

Profit (loss) per share		(0.95	)		(0.04	)		0.18

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST ( Schedule of Cost of Revenues) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of comprehensive income [abstract]
Salary and benefits	$ 1,404
Subcontractors	7,412
Cost of revenues from development services	$ 8,816

NET LOSS PER SHARE (Schedule of Net Profit (Loss) Per Share from Continuing and Discontinued Operations) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Basic and Diluted loss per share:
Profit (loss) from from continuing operations	$ 0.08	$ (0.21)	$ (0.62)
Profit (loss) from discontinued operation	0.10	0.17	(0.33)
Total Basic and diluted profit loss per share	$ 0.18	$ (0.04)	$ (0.95)

INVENTORIES

12 Months Ended

Dec. 31, 2019

Classes of current inventories [abstract]

INVENTORIES

NOTE 7:- INVENTORIES

	Year ended December 31,
	2018		2019

Raw materials		432		709
Finished goods		1,248		904

		1,680		1,613

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Cost of Revenue License) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of comprehensive income [abstract]
Royalties payments	$ 680
Total Royalties payments	$ 680

SHARE-BASED COMPENSATION (Schedule of Estimated Using Acceptable Option Pricing Models) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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%
Early exercise factor (%)	150.00%		150.00%
Weighted average share prices (Dollar)	$ 4.83	$ 4.07	$ 7.80
Bottom of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility of the share prices (%)	41.00%	44.00%
Risk-free interest rate (%)	1.85%	1.63%	1.22%
Early exercise factor (%)		100.00%
Top of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility of the share prices (%)	53.00%	54.00%
Risk-free interest rate (%)	2.45%	2.69%	2.15%
Early exercise factor (%)		150.00%

SEVERANCE PAY LIABILTY, NET

12 Months Ended

Dec. 31, 2019

Disclosure of defined benefit plans [abstract]

SEVERANCE PAY LIABILTY, NET

NOTE 15:-

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.

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of General Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 2,621	$ 2,035	$ 2,032
Professional fees	1,628	1,361	1,224
Depreciation and amortization	247	43	56
Other	746	360	469
General and administrative expenses	$ 5,242	$ 3,799	$ 3,781

OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2019

Trade and other current receivables [abstract]

OTHER RECEIVABLES

NOTE 8:-

OTHER RECEIVABLES

	Year ended December 31,
	2018		2019

Government authorities		126		228
Prepaid expenses and other		132		216
BARDA (see also Note 17b)		2,524		-
Former shareholder ( see Note 16c)		4,000		-
Related parties		58		-

		6,840		444

SHARE-BASED COMPENSATION (Narrative) (Details) $ / shares in Units, $ in Thousands		1 Months Ended					12 Months Ended		36 Months Ended
	Jun. 06, 2019 USD ($) shares $ / shares	Mar. 24, 2019 USD ($) shares $ / shares	Jun. 27, 2018 shares	Feb. 22, 2018 USD ($) shares	Jun. 22, 2017 USD ($) shares $ / shares	Mar. 31, 2014	Dec. 31, 2019 USD ($) shares $ / shares	Dec. 31, 2018 USD ($) shares $ / shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2017 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options \| $								$ 1,261
Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options \| $								389
Employees and directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted \| $							$ 441	$ 1,824	$ 441	$ 172
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							2,442,976		2,442,976
Shares available for future grant							1,035,944		1,035,944
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
Directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted \| $					$ 172
Options granted					40,000			625,000
Options granted, exercise price \| $ / shares					$ 6.72			$ 5.15
CEO [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted \| $				$ 98			$ 76		$ 76
Options granted			131,102	208,332			40,000
Options granted, exercise price \| $ / shares							$ 4.63		$ 4.63
CEO [Member] \| 2014 Share Incentive Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted		40,000
CEO [Member] \| 2014 Share Incentive Plan [Member] \| Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted		20,000
Employees [Member] \| Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted								95,833
Incoming CEO and chairman [Member] \| 2014 Share Incentive Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period		3-4 years
Options granted		60,000
Options granted, exercise price \| $ / shares		$ 4.92
Fair value of options \| $		$ 164
Incoming CEO and chairman [Member] \| 2014 Share Incentive Plan [Member] \| Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted		30,000
Fair value of options \| $		$ 158
Chairman [Member] \| 2014 Share Incentive Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted		20,000
Chairman [Member] \| 2014 Share Incentive Plan [Member] \| Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted		10,000
Incoming CFO [Member] \| 2014 Share Incentive Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted	40,000
Options granted, exercise price \| $ / shares	$ 3.84
Fair value of options \| $	$ 93
Incoming CFO [Member] \| 2014 Share Incentive Plan [Member] \| Restricted Shares Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted	6,667
Fair value of options \| $	$ 26

CASH AND CASH EQUIVALENTS (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and cash equivalents [abstract]
USD cash for immediate withdrawal	$ 5,766	$ 5,336
Non-USD cash for immediate withdrawal	1,476	1,380
Cash and cash equivalents	$ 7,242	$ 6,716	$ 36,069	$ 28,866

LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases

Schedule of Information on Leases

Information on leases:

	Year ended December 31,
	2019

Interest expense on lease liabilities		139
Expenses relating to short-term leases		444
Total cash outflow for leases		630

Schedule of Disclosures of Right-of-Use Assets

Disclosures in respect of right-of-use assets:

Right-of-use assets	Buildings		Motor vehicles		Total
Cost:
Balance as of January 1, 2019		-		46		46
Cumulative effect adjustment on accumulated deficit as a result of adopting IFRS 16		2,350		172		2,522
Additions during the year:
New leases		-		209		209
Adjustments for indexation		27		-		27

Balance as of December 31, 2019		2,377		427		2,804

Accumulated depreciation:
Balance as of January 1, 2019		-		-		-
Additions during the year:
Depreciation and amortization		401		174		575

Balance as of December 31, 2019		401		174		575

Depreciated cost :
Balance as of December 31, 2019		1,976		253		2,229

Schedule of Disclosures of Lease Liabilities

Disclosures in respect of lease liabilities:

Lease liabilities	Buildings			Motor vehicles			Total
Balance as of December 31, 2018		-			-			-
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16		2,344			178			2,522
Repayment of leases liabilities		(458	)		(172	)		(630	)
Effect of changes in exchange rates		189			10			199
New finance lease obligation recognized		-			193			193
Adjustments for indexation		11			16			27
Interest		139			-			139
Balance as of December 31, 2019		2,225			225			2,450
Current maturities of long-term leases		(403	)		(41	)		(444	)
Lease liability Balance as of December 31, 2019		1,822			184			2,006

SHORT-TERM BANK DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of short-term bank deposits [Abstract]

Schedule of Short-Term Bank Deposits

	Year ended December 31,
	2018		2019

USD bank deposits (1)		16,828		22,036
Restricted bank deposits (2)		89		180

		16,917		22,216

(1)

The USD deposits bear annual interest of 2.48%-3.10% for the period of 357-368 days for 2018.

(2)

Restricted bank deposit which may be used only when certain conditions are met.

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
One-time expenses	$ 1,172	$ 751
Vericel Contributed [Member]
Statement Line Items [Line Items]
Percentage of future revenues from sales of products	34% and 55%
Other Customer Contributed [Member]
Statement Line Items [Line Items]
Percentage of future revenues from sales of products	10%

OTHER PAYABLES (Tables)

12 Months Ended

Dec. 31, 2019

Trade and other payables [abstract]

Schedule of Other Payables

	Year ended December 31,
	2018		2019

Liability in respect for purchase of shares (see Note 16c)		1,532		1,723
Former shareholder ( see Note 16b )		-		3,167
Related parties		227		214
Deferred Revenues		198		249
Other		79		384

		2,036		5,737

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2019 shares
Document And Entity Information
Entity Registrant Name	MediWound Ltd.
Entity Central Index Key	0001593984
Document Type	20-F
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Common Stock, Shares Outstanding	27,202,795
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	IL

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2019

Disclosure of significant accounting policies [Abstract]

Basis of presentation of financial statements

a.	Basis of presentation of financial statements:

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

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

Functional currency, reporting currency and foreign currency

c.	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

d.	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

e.	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

f.	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 (which approximates actual cost on a weighted average basis) including materials, labor and other direct and indirect manufacturing costs based on practical capacity.

Liability in respect of IIA

g.	Liability in respect of IIA:

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.

Leases

Leases:

The accounting policy for leases applied effective from January 1, 2019, is as follows:

The Company accounts for a contract as a lease when the contract terms convey the right to control the use of an identified asset for a period of time in exchange for consideration.

Following are the amortization periods of the right-of-use assets by class of underlying asset:

	Years
Motor vehicles		3
Buildings and equipment		5-8

The Company tests for impairment of the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.

•

Variable lease payments that depend on an index:

On the commencement date, the Company uses the index rate prevailing on the commencement date to calculate the future lease payments.

•

Lease extension and termination options:

•

Lease modifications:

The accounting policy for leases applied until December 31, 2018, is as follows:

Operating leases:

Property, plant and equipment, net

i.	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
Manufacturing machinery and lab equipment		7 - 15
Computers		33
Leasehold improvements		See below

The useful life, depreciation method and residual value of an asset are reviewed at least each year-end and any changes are accounted for prospectively as a change in accounting estimate.

Intangible assets, net

j.	Intangible assets, net:

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

Revenue recognition

Revenues recognition:

The accounting policy for Revenues recognition applied from January 1, 2018, is as follows:

Revenues recognition:

Revenues from the sale of products:

Revenues 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.

Revenues from development services:

Revenues from license agreements:

The Company recognizes Revenues from licensing transactions over time when the Company provides the customer a right to access the Company's intellectual property throughout the license period.

Combination of contracts:

The contracts are negotiated as a package with a single commercial objective.

The amount of consideration to be paid in one contract depends on the consideration or performance of another contract.

The goods or services that the Company will provide according to the contracts represent a single performance obligation for the Company.

Variable consideration:

Allocating the transaction price:

The accounting policy for Revenues recognition applied until December 31, 2017, was as follows:

Research and development expenses

Research and development expenses:

Funding by BARDA

Funding by BARDA:

Non-royalty bearing funds from BARDA for funding research and development projects were recognized at the time the Company was entitled to such grants on the basis of the related costs incurred.

Impairment of non-financial assets

Impairment of non-financial assets:

Financial instruments

Financial instruments:

The accounting policy for financial instruments applied commencing from January 1, 2018, is as follows:

Financial assets:

The Company classifies and measures debt instruments in the financial statements based on the following criteria:

The Company's business model for managing financial assets; and

The contractual cash flow terms of the financial asset.

Debt instruments are measured at amortized cost when:

Impairment of financial assets:

The Company evaluates at the end of each reporting period the loss allowance for financial debt instruments which are not measured at fair value through profit or loss.

An impairment loss on debt instruments measured at amortized cost is recognized in profit or loss with a corresponding loss allowance that is offset from the carrying amount of the financial asset.

Financial liabilities:

Financial liabilities measured at amortized cost:

Financial liabilities are initially recognized at fair value less transaction costs that are directly attributable to the issue of the financial liability.

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

Financial liabilities measured at fair value through profit or loss:

At initial recognition, the Company measures financial liabilities that are not measured at amortized cost at fair value. Transaction costs are recognized in profit or loss.

After initial recognition, changes in fair value are recognized in profit or loss.

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.

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 jurisdictions and in Israel.

The Company recognizes liability for severance pay due to its employees in EU in accordance with local laws.

Share-based compensation

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.

Reclassification

FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2019

Disclosure of detailed information about financial instruments [abstract]

FINANCIAL INSTRUMENTS

NOTE 14:-

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. The expected cash flows already reflect assumptions about the uncertainty in future defaults, and therefore the Company used a discount rate that is commensurate with the risk inherent in the expected cash flows.

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,
	2017			2018		2019

Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change:
5% increase in exchange rate	$	346		$	31	$	285
5% decrease in exchange rate	$	(346	)	$	31	$	(285	)

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.

SHARE-BASED COMPENSATION (Schedule of Expense Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 1,234	$ 645	$ 1,363
Cost of Revenues [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	226	71	188
Research and development [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	375	181	488
Selling and marketing [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	40	63	204
General and administrative [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 593	$ 330	$ 483

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of financial position [abstract]
Ordinary shares, par value	₪ 0.01	₪ 0.01
Ordinary shares, Authorized	50,000,000	37,244,508
Ordinary shares, Issued	27,202,795	27,178,839
Ordinary shares, Outstanding	27,202,795	27,178,839

GENERAL

12 Months Ended

Dec. 31, 2019

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 medical needs in the fields of severe burns, chronic and other hard to heal wounds, connective tissue disorders and other indications.

The Company's first innovative biopharmaceutical product, NexoBrid, received marketing authorization from the European Medicines Agency ("EMA") as well as the Israeli, Argentinean, South-Korean, Russian and Peruvian 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's securities are listed for trading on NASDAQ since March 2014.

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 10% of PolyHeal Ltd., a private life sciences company ("PolyHeal").

The Company awarded two contracts with the U.S. Biomedical Advanced Research and Development Authority ("BARDA"), for the advancement of the development and manufacturing, as well as the procurement of NexoBrid, as a medical countermeasure as part of BARDA preparedness for mass casualty events (see also Note 17a)

On May 6, 2019, the Company entered into exclusive license and supply agreements with Vericel Corporation (“Vericel”) to commercialize NexoBrid in North America (see also Note 17b).

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2019

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

Schedule of Property, Plant and Equipment, Net

Balance as of December 31, 2019:

	Office furniture			Manufacturing machinery and lab equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2019		243			4,054		102			2,123		6,522
Disposals		-			-		(38	)		-		(38	)
Additions		60			480		60			192		792
Foreign currency translation		(2	)		-		-			-		(2	)

Balance as of December 31, 2019		301			4,534		124			2,315		7,274

Accumulated Depreciation

Balance as of January 1, 2019		161			2,153		70			2,118		4,502
Disposals		-			-		(38	)		-		(38	)
Additions		16			453		28			11		508
Foreign currency translation		(2	)		-		-			-		(2	)

Balance as of December 31, 2019		175			2,606		60			2,129		4,970

Depreciated cost
December 31, 2019		126			1,928		64			186		2,304

Balance as of December 31, 2018:

	Office furniture			Manufacturing machinery and lab 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
December 31, 2018		82			1,901		32			5		2,020

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2019

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

SHARE-BASED COMPENSATION

NOTE 19:-

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,
	2017		2018		2019
Cost of Revenues		188		71		226
Research and development		488		181		375
Selling and marketing		204		63		40
General and administrative		483		330		593

Total share-based compensation		1,363		645		1,234

Share-based payment plan for employees and directors:

The Company has reserved for issuance stock options and restricted stock units ("RSUs") for total of 2,442,976 ordinary shares. As of December 31, 2019, 1,035,944 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

	2017					2018					2019
	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		2,181,075			9.62		1,934,735			10.02		2,313,249			9.31
Option's Granted		40,000			6.72		665,000			5.12		95,000			4.45
Option's Exercised		(79,624	)		0.09		(208,332	)		2.63		-			-
Option's Forfeited and/or expired		(206,716	)		8.93		(78,154	)		9.06		(73,817	)		5.17

Outstanding options and at end of year		1,934,735			10.02		2,313,249			9.31		2,334,432			9.18

Option's Exercisable at end of year		1,562,235			10.25		1,475,451			11.23		1,753,803			4.76

The following table summarizes information about share options outstanding as of December 31, 2019:

	Options and outstanding as of December 31, 2019
Range of exercise prices ($ )	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

3.84 - 5.15		720,500		8.58		5.03
6.72 ‑ 9.82		795,032		4.86		9.05
12.89 ‑ 13.76		818,900		3.92		12.94
Total		2,334,432		5.68		9.18

The following table summarizes information about RSU's outstanding as of December 31, 2019:


	RSU's 2018		RSU's 2019

Outstanding at beginning of year		-		95,833
Granted		95,833		36,667
Forfeited		-		-
Vested		-		(23,956	)

Outstanding at the end of the period		95,833		108,544

The fair value of the options and RSU's granted to employees and directors at the grant date for the years ends December 31, 2017, 2018 and 2019 was $172 ,$1,824 and $441 respectively.

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 former 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.

On March 24, 2019, the Company granted to its incoming CEO and chairman of the board 60,000 options (40,000 and 20,000 respectively) to purchase ordinary shares, for an exercise price of $ 4.92 per share, and 30,000 RSU's (20,000 and 10,000 respectively), under the "2014 Share Incentive Plan". The options are exercisable in accordance with the terms of the plan and will vest over three-four years. The fair value of the options and RSU's granted, as of the grant date, was estimated at approximately $164 and $158, respectively.

On May 2, 2019, the general meeting of the Company approved the abovementioned grants.

On June 6, 2019, the Company granted to its incoming CFO 40,000 options to purchase ordinary shares, for an exercise price of $ 3.84 per share, and 6,667 RSU's, under the "2014 Share Incentive Plan". The options are exercisable in accordance with the terms of the plan and will vest over four years. The fair value of the options and RSU's granted, as of the grant date, was estimated at approximately $93 and $26, respectively.

The fair value of the Company's share options granted to employees and directors for the years ended December 31, 2017, 2018 and 2019 was estimated using the binomial option pricing models using the following assumptions:

	December 31,
	2017		2018		2019

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		63		44-54		41-53
Risk‑free interest rate (%)		1.22-2.15		1.63-2.69		1.85-2.45
Early exercise factor (%)		150		100-150		150
Weighted average share prices (Dollar)		7.80		4.07		4.83

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2019

Cash and cash equivalents [abstract]

Schedule of Cash and Cash Equivalents

	Year ended December 31,
	2018		2019

USD cash for immediate withdrawal		5,336		5,766
Non-USD cash for immediate withdrawal		1,380		1,476

		6,716		7,242

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2019

Disclosure of detailed information about intangible assets [abstract]

INTANGIBLE ASSETS, NET

NOTE 11:-

INTANGIBLE ASSETS, NET

	License and Knowhow
	2018		2019
Cost
Balance as of January 1,		1,526		1,538
Additions		12		-
Balance as of December 31,		1,538		1,538

Accumulated Amortization
Balance as of January 1,		891		1,043
Additions		152		66
Balance as of December 31,		1,043		1,109

Amortized cost
Balance as of December 31,		495		429

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.

TAXES ON INCOME

12 Months Ended

Dec. 31, 2019

Disclosure of taxes on income [Abstract]

TAXES ON INCOME

NOTE 20:-

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 2019 and 2018 and 24% in 2017.

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), 2017 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.

The principal tax rates applicable to the subsidiary whose place of incorporation is outside Israel are:

The statutory corporate tax rate in Germany was 29.79% in 2019, 2018 and 30.53% in 2017.

Final tax assessments:

The Company has finalized its tax assessments through the 2013 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, 2019, the Company had carryforward losses and other temporary differences mainly from R&D expenses together amounting to approximately $119,000.

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, 2017, 2018 and 2019 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).

LEASES

12 Months Ended

Dec. 31, 2019

Leases

LEASES

NOTE 10:-

LEASES

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 $33). 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 €3,500 (approximately $4) and the lease agreement expires on April 30, 2022.

In addition the Company and its subsidiary have operating lease agreements for 13 vehicles for a period of three years.

Lease extension and termination options:

The Company has leases that include extension and termination options. These options provide flexibility in managing the leased assets and align with the Company's business needs.

The Company exercises significant judgement in deciding whether it is reasonably certain that the extension and termination options will be exercised.

In leases of motor vehicles, the Company does not include in the lease term the exercise of extension options since the Company does not ordinarily exercise options that extend the lease period beyond 3 years.

Information on leases:

	Year ended December 31,
	2019

Interest expense on lease liabilities		139
Expenses relating to short-term leases		444
Total cash outflow for leases		630

The Company was assisted by an external valuation expert in determining the appropriate interest rate for discounting its leases based on credit risk, the weighted average term of the leases and other economic variables. A weighted average incremental borrowing in a range of 0.1% to 6.7% was used to discount future lease payments in the calculation of the lease liability on the date of initial application of the Standard.

Disclosures in respect of right-of-use assets:

Right-of-use assets	Buildings		Motor vehicles		Total
Cost:
Balance as of January 1, 2019		-		46		46
Cumulative effect adjustment on accumulated deficit as a result of adopting IFRS 16		2,350		172		2,522
Additions during the year:
New leases		-		209		209
Adjustments for indexation		27		-		27

Balance as of December 31, 2019		2,377		427		2,804

Accumulated depreciation:
Balance as of January 1, 2019		-		-		-
Additions during the year:
Depreciation and amortization		401		174		575

Balance as of December 31, 2019		401		174		575

Depreciated cost :
Balance as of December 31, 2019		1,976		253		2,229

The Company recognized depreciation expenses in the amount of $575 in respect of amortization of the right-of-use asset and $139 intrest expenses in respect of the lease liability, in place of the lease expenses in the amount of $630 which would have been recorded according to the previous standard.

Disclosures in respect of lease liabilities:

Lease liabilities	Buildings			Motor vehicles			Total
Balance as of December 31, 2018		-			-			-
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16		2,344			178			2,522
Repayment of leases liabilities		(458	)		(172	)		(630	)
Effect of changes in exchange rates		189			10			199
New finance lease obligation recognized		-			193			193
Adjustments for indexation		11			16			27
Interest		139			-			139
Balance as of December 31, 2019		2,225			225			2,450
Current maturities of long-term leases		(403	)		(41	)		(444	)
Lease liability Balance as of December 31, 2019		1,822			184			2,006

At the initial application date, the Company recognized a lease liability in the amount of about $2,522 million under Long term debt and current maturity, according to the present value of the future lease payments discounted using the Company's incremental interest rate at that date, and concurrently recognized a right-of-use asset in the same amount with certain adjustments. The Company's incremental interest rates used for measuring the lease liability are in the range of 0.1% to 6.7%. Depreciation is calculated on a straight-line basis over the remaining contractual lease period.

CONTINGENT LIABILITIES AND COMMITMENTS

12 Months Ended

Dec. 31, 2019

Disclosure of contingent liabilities [abstract]

CONTINGENT LIABILITIES

NOTE 16:-

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, 2017 and 2018 and 2019 amounted to $ 48, $ 72 and $ 732, 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, 2019 is approximately $ 13,570, which represents the total amount of grants actually received by the Company from the IIA including accrued interest, net of royalties actually paid or accrued by the Company (see also Note 13).

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 21a). 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. The subsequent changes in this liability were 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, respectively, as a result of revaluation in the amount of $ 351 and $ 758, in 2017 and 2018, respectivaly, which was recorded within financial expenses.

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 these agreements.

Pursuant to a Settlement Agreement, Teva paid the Company $4,000 in cash, and agreed to reduce the contingent consideration that is payable to Teva pursuant to the Company's repurchase of its shares from Teva in 2013. As a result, the Company is now 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. In addition, the fair value of the revised future royalty obligation to Teva (contingent consideration for purchase of shares) was remeasured to $6,330 and $4,853 as of December 31, 2018 and 2019, respectivally, using a discounted cash flow model based on sales projections.

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 $10,200, if a notice of such claim has been received by the Company prior to December 31, 2023.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Profit or loss [abstract]
Revenues from sale of products	$ 3,393	$ 3,225	$ 2,378
Revenues from development services	10,678
Revenues from license agreements	17,718	176	118
Total revenues	31,789	3,401	2,496
Cost of revenues	(11,849)	(2,088)	(1,578)
Gross profit	19,940	1,313	918
Operating expenses:
Research and development, gross	10,070	17,915	14,625
Participations by BARDA and IIA	(5,101)	(13,843)	(9,163)
Research and development, net of participations	4,969	4,072	5,462
Selling and marketing	4,064	4,188	5,362
General and administrative	5,242	3,799	3,781
Other income from settlement agreement		(7,537)	0
Other expenses	1,172	751	0
Total operating expenses	15,447	5,273	14,605
Operating profit (loss)	4,493	(3,960)	(13,687)
Financial income	556	412	406
Financial expense	(2,983)	(2,117)	(1,252)
Profit (loss) from continuing operations	2,066	(5,665)	(14,533)
Profit (loss) from discontinued operation	2,889	4,608	(7,616)
Net profit (loss)	4,955	(1,057)	(22,149)
Other comprehensive income (loss):
Foreign currency translation adjustments	8	13	(29)
Total comprehensive income (loss)	$ 4,963	$ (1,044)	$ (22,178)
Basic and diluted net profit (loss) per share:
Basic and diluted net loss per share from continuing operations	$ 0.08	$ (0.21)	$ (0.62)
Basic and diluted net profit (loss) per share from discontinued operations	0.10	0.17	(0.33)
Total Basic and diluted net profit (loss) per share	$ 0.18	$ (0.04)	$ (0.95)

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Classes of current inventories [abstract]
Raw materials	$ 709	$ 432
Finished goods	904	1,248
Inventories	$ 1,613	$ 1,680

EQUITY (Schedule of Share Capital) (Details) - shares	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [abstract]
Authorized number of shares	50,000,000	37,244,508
Issued and outstanding number of shares	27,202,795	27,178,839

FINANCIAL INSTRUMENTS (Schedule of Sensitivity Tests Relating to Changes in Market Factors) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ 152	$ (182)	$ 185
5% increase in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	285	31	346
5% decrease in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ (285)	$ 31	$ (346)

LIABILITIES IN RESPECT OF IIA GRANTS

12 Months Ended

Dec. 31, 2019

Disclosure of israeli innovation authority grants [Abstract]

LIABILITIES IN RESPECT OF IIA GRANTS

NOTE 13:-

LIABILITIES IN RESPECT OF IIA GRANTS

	Year ended December 31,
	2018			2019

Balance as of January 1,		7,437			7,714
Grants received		93			248
Royalties		(103	)		(635	)
Amounts carried to Profit or Loss		287			(392	)
Balance as of Decmber 31,		7,714			6,935

Current maturities		(146	)		(124	)

Long term liabilities in respect of IIA grants		7,568			6,811

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, 2019 is approximately $ 13,570, while the amortized cost of this liability as of that date is $ 6,935, using the interest method.

PROPERTY, PLANT AND EQUIPMENT, NET (Schedule of Property, Plant and Equipment, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Balance	$ 2,020
Balance	2,304	$ 2,020
Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	6,522	6,068
Disposals	(38)	(62)
Additions	792	522
Foreign currency translation	(2)	(6)
Balance	7,274	6,522
Cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	243	248
Disposals		(7)
Additions	60	7
Foreign currency translation	(2)	(5)
Balance	301	243
Cost [Member] \| Manufacturing machinery and lab equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	4,054	3,561
Disposals
Additions	480	493
Foreign currency translation
Balance	4,534	4,054
Cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	102	139
Disposals	(38)	(55)
Additions	60	19
Foreign currency translation		(1)
Balance	124	102
Cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,123	2,120
Disposals
Additions	192	3
Foreign currency translation
Balance	2,315	2,123
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	4,502	4,144
Disposals	(38)	(62)
Additions	508	425
Foreign currency translation	(2)	(5)
Balance	4,970	4,502
Accumulated Depreciation [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	161	154
Disposals		(7)
Additions	16	18
Foreign currency translation	(2)	(4)
Balance	175	161
Accumulated Depreciation [Member] \| Manufacturing machinery and lab equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,153	1,802
Disposals
Additions	453	351
Foreign currency translation
Balance	2,606	2,153
Accumulated Depreciation [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	70	93
Disposals	(38)	(55)
Additions	28	33
Foreign currency translation		(1)
Balance	60	70
Accumulated Depreciation [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,118	2,095
Disposals
Additions	11	23
Foreign currency translation
Balance	2,129	2,118
Depreciated cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,020
Balance	2,304	2,020
Depreciated cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	82
Balance	126	82
Depreciated cost [Member] \| Manufacturing machinery and lab equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,901
Balance	1,928	1,901
Depreciated cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	32
Balance	64	32
Depreciated cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	5
Balance	$ 186	$ 5

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST

12 Months Ended

Dec. 31, 2019

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

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST

NOTE 22:-

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST

a. Additional information on Revenues:

Major customers:

BARDA and Vericel contributed 34% and 55% of our total Revenues, respectively, in 2019 (see also Note 17). No other customer contributed 10% or more of our Revenues in 2019.

Geographic information:

The Revenues reported in the financial statements are based on the location of the customers, as follows:

	Year ended December 31,
	2017		2018		2019

USA (see also Note 17a, 17b)		-		-		28,504
Others		2,496		3,401		3,285

		2,496		3,401		31,789

Cost of Revenues::

Cost of Revenues from sale of products

	Year ended December 31,
	2017			2018			2019

Salary and benefits (including share-based compensation)		2,073			2,212			1,916
Subcontractors		121			72			89
Depreciation and amortization		457			474			512
Cost of materials		535			468			456
Other manufacturing expenses		989			783			657
Decrease (increase) in inventory of finished products		(999	)		299			344
Allotment of manufacturing costs to R&D		(1,598	)		(2,220	)		(1,621	)

		1,578			2,088			2,353

Cost of Revenues from development services

	Year ended December 31,
	2017		2018		2019

Salary and benefits		-		-		1,404
Subcontractors		-		-		7,412

		-		-		8,816

Cost of Revenues from license agreements

	Year ended December 31,
	2017		2018		2019

Royalties payments		-		-		680

		-		-		680

Research and development expenses, net of participations:

	Year ended December 31,
	2017			2018			2019

Salary and benefits (including share-based compensation)		3,840			3,703			2,965
Subcontractors		8,780			11,423			4,694
Depreciation and amortization		42			51			342
Cost of materials		223			309			311
Allotment of manufacturing costs		1,598			2,220			1,621
Other research and development expenses		142			209			137

Research and development, gross		14,625			17,915			10,070

Participations:
BARDA funds		(8,565	)		(13,238	)		(3,785	)
Revaluation of liabilities in respect of IIA grants		(598	)		(605	)		(1,316	)

		5,462			4,072			4,969

Selling and marketing expenses:

	Year ended December 31,
	2017		2018		2019

Salary and benefits (including share based compensation)		3,062		2,343		2,028
Marketing and medical support		1,628		1,055		1,298
Depreciation and amortization		12		9		49
Shipping and delivery		236		192		200
Registration and marketing license fees		424		589		489

		5,362		4,188		4,064

General and administrative expenses:

	Year ended December 31,
	2017		2018		2019

Salary and benefits (including share‑based compensation)		2,032		2,035		2,621
Professional fees		1,224		1,361		1,628
Depreciation and amortization		56		43		247
Other		469		360		746

		3,781		3,799		5,242

Other expenses:

The other one-time expenses amounted $751 and $1,172 for the years ended December 31, 2018 and 2019 respectivally, are associated with the review and assessment of the strategic deal.

Financial income and expense:

	Year ended December 31,
	2017		2018		2019
Financial income:
Interest income		349		412		434
Exchange differences, net		57		-		122

		406		412		556
Financial expense:
Interest in respect of IIA grants		827		892		925
Revaluation of liabilities in respect of IFRS16		-		-		140
Revaluation of contingent consideration for the purchase of shares		351		758		1,690
Exchange differences, net		-		219		-
Finance expenses in respect of deferred Revenues		-		164		161
Other		74		84		67

		1,252		2,117		2,983

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

12 Months Ended

Dec. 31, 2019

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.

SHORT-TERM BANK DEPOSITS

12 Months Ended

Dec. 31, 2019

Disclosure of short-term bank deposits [Abstract]

SHORT-TERM BANK DEPOSITS

NOTE 5:-

SHORT-TERM BANK DEPOSITS

	Year ended December 31,
	2018		2019

USD bank deposits (1)		16,828		22,036
Restricted bank deposits (2)		89		180

		16,917		22,216

(1)

The USD deposits bear annual interest of 2.48%-3.10% for the period of 357-368 days for 2018.

(2)

Restricted bank deposit which may be used only when certain conditions are met.

OTHER RECEIVABLES (Schedule of Other Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Trade and other current receivables [abstract]
Government authorities	$ 228	$ 126
Prepaid expenses and other	216	132
BARDA (see also Note 17b)		2,524
Former shareholder (see Note 16c)		4,000
Related parties		58
Other receivables	$ 444	$ 6,840

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, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings per share [abstract]
Basic and diluted profit (loss) from continued operation, Weighted average number of shares	27,178,839	27,113,617	23,341,040
Basic and diluted profit (loss) from continued operation, Loss	$ 2,066	$ (5,665)	$ (14,533)
Basic and diluted profit (loss) from discontinued operation, Weighted average number of shares	27,178,839	27,113,617	23,341,040
Basic and diluted profit (loss) from discontinued operation, Loss	$ 2,889	$ 4,608	$ (7,616)

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

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,
	2017		2018		2019
Cost of Revenues		188		71		226
Research and development		488		181		375
Selling and marketing		204		63		40
General and administrative		483		330		593

Total share-based compensation		1,363		645		1,234

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

	2017					2018					2019
	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		2,181,075			9.62		1,934,735			10.02		2,313,249			9.31
Option's Granted		40,000			6.72		665,000			5.12		95,000			4.45
Option's Exercised		(79,624	)		0.09		(208,332	)		2.63		-			-
Option's Forfeited and/or expired		(206,716	)		8.93		(78,154	)		9.06		(73,817	)		5.17

Outstanding options and at end of year		1,934,735			10.02		2,313,249			9.31		2,334,432			9.18

Option's Exercisable at end of year		1,562,235			10.25		1,475,451			11.23		1,753,803			4.76

Schedule of Information About Share Options Outstanding

The following table summarizes information about share options outstanding as of December 31, 2019:

	Options and outstanding as of December 31, 2019
Range of exercise prices ($ )	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

3.84 - 5.15		720,500		8.58		5.03
6.72 ‑ 9.82		795,032		4.86		9.05
12.89 ‑ 13.76		818,900		3.92		12.94
Total		2,334,432		5.68		9.18

Schedule of Fair Value Assumptions

	December 31,
	2017		2018		2019

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		63		44-54		41-53
Risk‑free interest rate (%)		1.22-2.15		1.63-2.69		1.85-2.45
Early exercise factor (%)		150		100-150		150
Weighted average share prices (Dollar)		7.80		4.07		4.83

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, 2019:


	RSU's 2018		RSU's 2019

Outstanding at beginning of year		-		95,833
Granted		95,833		36,667
Forfeited		-		-
Vested		-		(23,956	)

Outstanding at the end of the period		95,833		108,544

NET PROFIT (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2019

Earnings per share [abstract]

NET PROFIT (LOSS) PER SHARE

NOTE 23:-

NET PROFIT (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,
	2017					2018					2019
	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		(14,533	)		27,113,617		(5,665	)		27,178,839		2,066

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,
	2017					2018				2019
	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		27,178,839		2,889

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

	Year ended December 31,
	2017			2018			2019
Basic and Diluted loss per share:
Profit (loss) from from continuing operations		(0.62	)		(0.21	)		0.08

Profit (loss) from discontinued operation		(0.33	)		0.17			0.10

Profit (loss) per share		(0.95	)		(0.04	)		0.18

TRADE RECEIVABLES (Schedule of Trade Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Trade and other current receivables [abstract]
BARDA (see also Note 17b)	$ 3,267
Others receivables	840	560
Receivable from BARDA	$ 4,107	$ 560

DISCONTINUED OPERATION

12 Months Ended

Dec. 31, 2019

Disclosure of discontinued operation [Abstract]

DISCONTINUED OPERATION

NOTE 21:-

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.

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.

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.

During December 2017, the Company paid the Plaintiffs approximately $1,497 in consideration for PolyHeal's shares and 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 (the “Provision”).

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 it resulted 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 September 2019, the Company entered a series of settlement agreements (the "New PolyHeal Settlement Agreements") with the majority of shareholders of Polyheal, including Clal Biotechnology Industries Ltd., its controlling shareholder. The New PolyHeal Settlement Agreements settle any and all debts, obligations or liabilities that each party or any of its affiliates had or has to the other party or any of its affiliates, in connection with or arising out of the series of 2010 PolyHeal Agreements.

Pursuant to the terms of New PolyHeal Settlement Agreements, the company paid an aggregate amount of approximately $2,800 and received 14,473 shares of PolyHeal, which was classified as royalty rights arising from the Company’s ownership of shares of Polyheal.

As a result of the New PolyHeal Settlement Agreements, the Company recognized one-time profit from discontinued operation of $2,889, following the decrease of the provision which was offset by an impairment of the royalty rights and settlement fees. As of December 31, 2019, the provision for liability in respect of discontinued operation, which was classifief as short term other payables, was $275.

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

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Disclosure of transactions between related parties [line items]

Professional Fee

$ 1,628

$ 1,361

$ 1,224

Parent Company [Member]

Disclosure of transactions between related parties [line items]

Professional Fee

^[1]

Rent expenses and other

415

292

817

Other related parties [Member]

Disclosure of transactions between related parties [line items]

Professional Fee

^[1]

249

162

225

Rent expenses and other

$ (59)

$ (246)

[1]

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Cash Flows from Operating Activities:

Net Profit (loss)

$ 4,955

$ (1,057)

$ (22,149)

Adjustments to profit and loss items:

Loss (profit) from discontinued operation

(2,889)

(4,608)

7,616

Depreciation and amortization

1,149

577

567

Share-based compensation

1,234

645

1,363

Revaluation of liabilities in respect of IIA grants

(392)

287

229

Revaluation of contingent consideration for purchase of shares

1,690

758

351

Other income from settlement agreement

(7,537)

Revaluation of lease liabilities

340

Increase (decrease) in severance pay liability, net

(105)

111

Net financing income

(434)

(412)

(349)

Un-realized foreign currency (gain) loss

(152)

182

(185)

Adjustments to profit and loss items, total

441

(10,089)

9,703

Changes in asset and liability items:

Decrease (increase) in trade receivables

(3,553)

(211)

Decrease (increase) in inventories

206

(1,042)

Decrease (increase) in other receivables

6,376

(306)

(1,227)

Increase (decrease) in trade payables and accrued expenses

1,355

(536)

(135)

Increase (decrease) in other payables and deferred revenues

247

(161)

(70)

Changes in asset and liability items, total

4,492

(1,008)

(2,446)

Net cash provided by (used in) continuing operating activities

9,888

(12,154)

(14,892)

Net cash used in discontinued operating activities

(1,599)

(1,563)

Net cash provided by (used in) operating activities

8,289

(12,154)

(16,455)

Cash Flows from Investing Activities:

Purchase of property and equipment

(792)

(522)

(1,045)

Purchase of intangible assets

(12)

(30)

Interest received

184

106

349

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

(5,050)

(16,612)

1,163

Net cash provided by (used in) continuing investing activities

(5,658)

(17,040)

437

Net cash used in discontinued investing activities

(1,239)

Net cash provided by (used in) investing activities

(6,897)

(17,040)

437

Cash Flows from Financing Activities:

Repayment of leases liabilities

(630)

Proceeds from exercise of options

^[1]

Proceeds from issuance of shares, net

^[1]

22,658

Proceeds from (repayment of) IIA grants, net

(376)

330

Net cash provided by (used in) continuing financing activities

(1,006)

22,995

Exchange rate differences on cash and cash equivalent balances

140

(205)

226

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

3,364

(29,353)

8,766

Decrease in cash and cash equivalents from discontinued activities

(2,838)

(1,563)

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

6,716

36,069

28,866

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

$ 7,242

$ 6,716

$ 36,069

[1]	Represents an amount lower than $1.

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of detailed information about intangible assets [abstract]

Schedule of Intangible Assets, Net

	License and Knowhow
	2018		2019
Cost
Balance as of January 1,		1,526		1,538
Additions		12		-
Balance as of December 31,		1,538		1,538

Accumulated Amortization
Balance as of January 1,		891		1,043
Additions		152		66
Balance as of December 31,		1,043		1,109

Amortized cost
Balance as of December 31,		495		429

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of significant accounting policies [Abstract]

Schedule of Amortization Periods of Right-of-Use Assets

Following are the amortization periods of the right-of-use assets by class of underlying asset:

	Years
Motor vehicles		3
Building and equipment		5-8

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
Manufacturing machinery and lab equipment		7 - 15
Computers		33
Leasehold improvements		See below

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Cost of Revenues Products) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 1,916	$ 2,212	$ 2,073
Subcontractors	89	72	121
Depreciation and amortization	512	474	457
Cost of materials	456	468	535
Other manufacturing expenses	657	783	989
Decrease (increase) in inventory of finished products	344	299	(999)
Allotment of manufacturing costs to R&D	$ (1,621)	$ (2,220)	$ (1,598)

LIABILITIES IN RESPECT OF IIA GRANTS (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of israeli innovation authority grants [Abstract]

Schedule of Israeli Innovation Authority Grants

Year ended December 31,
	2018			2019

Balance as of January 1,		7,437			7,714
Grants received		93			248
Royalties		(103	)		(635	)
Amounts carried to Profit or Loss		287			(392	)
Balance as of Decmber 31,		7,714			6,935

Current maturities		(146	)		(124	)

Long term liabilities in respect of IIA grants		7,568			6,811

SHARE-BASED COMPENSATION (Schedule of Information About Share Options Outstanding) (Details)	12 Months Ended
	Dec. 31, 2019 shares $ / shares	Dec. 31, 2018 shares $ / shares	Dec. 31, 2017 shares $ / shares	Dec. 31, 2016 shares $ / shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	2,334,432	2,313,249	1,934,735	2,181,075
Weighted Average Remaining contractual life	5 years 8 months 5 days
Weighted average exercise price \| $ / shares	$ 9.18	$ 9.31	$ 10.02	$ 9.62
4.63 - 5.15 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	720,500
Weighted Average Remaining contractual life	8 years 6 months 29 days
Weighted average exercise price \| $ / shares	$ 5.03
6.72 - 9.82 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	795,032
Weighted Average Remaining contractual life	4 years 10 months 10 days
Weighted average exercise price \| $ / shares	$ 9.05
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	3 years 11 months 1 day
Weighted average exercise price \| $ / shares	$ 12.94

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

Dec. 31, 2019

Dec. 31, 2018

Parent Company [Member]

Disclosure of transactions between related parties [line items]

Payables

^[1]

$ 119

$ 186

Recievable

^[1]

Other related parties [Member]

Disclosure of transactions between related parties [line items]

Payables

Recievable

$ 58

[1]

LEASES (Schedule of Disclosures of Lease Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of maturity analysis of operating lease payments [line items]
Repayment of leases liabilities	$ (630)
Interest	139
Current maturities of long-term leases	(569)	(146)
Balance as of December 31, 2019	2,006	0
Lease liabilities [Member]
Disclosure of maturity analysis of operating lease payments [line items]
Balance as of December 31, 2018
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16	2,522
Repayment of leases liabilities	(630)
Effect of changes in exchange rates	199
New finance lease obligation recognized	193
Adjustments for indexation	27
Interest	139
Balance as of December 31, 2019	2,450
Current maturities of long-term leases	(444)
Balance as of December 31, 2019	2,006
Lease liabilities [Member] \| Buildings [member]
Disclosure of maturity analysis of operating lease payments [line items]
Balance as of December 31, 2018
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16	2,344
Repayment of leases liabilities	(458)
Effect of changes in exchange rates	189
New finance lease obligation recognized
Adjustments for indexation	11
Interest	139
Balance as of December 31, 2019	2,225
Current maturities of long-term leases	(403)
Balance as of December 31, 2019	1,822
Lease liabilities [Member] \| Motor vehicles [member]
Disclosure of maturity analysis of operating lease payments [line items]
Balance as of December 31, 2018
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16	178
Repayment of leases liabilities	(172)
Effect of changes in exchange rates	10
New finance lease obligation recognized	193
Adjustments for indexation	16
Interest
Balance as of December 31, 2019	225
Current maturities of long-term leases	(41)
Balance as of December 31, 2019	$ 184

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS (Schedule of Compensation of Officers of Company) (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2019

USD ($)

Officers

Dec. 31, 2018

USD ($)

Officers

Dec. 31, 2017

USD ($)

Officers

Disclosure of transactions between related parties [abstract]

Short-term employee benefits

^[1]

$ 2,533

$ 2,304

$ 2,324

Share-based compensation

565

276

731

Compensation of officers

$ 3,098

$ 2,580

$ 3,055

Number of officers | Officers

[1]	The amount for 2019 includes one-time payments for previous-CEO on the amount of $196.

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2019

Classes of current inventories [abstract]

Schedule of Inventories

	Year ended December 31,
	2018		2019

Raw materials		432		709
Finished goods		1,248		904

		1,680		1,613

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Thousands	Jan. 02, 2018 USD ($)
Disclosure of significant accounting policies [Abstract]
Increase of deferred revenues	$ 249
Increase of accumulated deficit	$ 249

LEASES (Narrative) (Details) $ in Thousands	12 Months Ended
LEASES (Narrative) (Details) $ in Thousands	Dec. 31, 2019 USD ($) ft² Vehicles	Jan. 02, 2019 USD ($)
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Subsidiaries lease, area \| ft²	3,000
Subsidiaries lease, monthly rent	$ 33
Subsidiaries lease, expiration date	Oct. 31, 2022
Subsidiaries lease, extention period	3 years
Number of vehicles in operating lease arrangements \| Vehicles	13
Period of vehicles operating lease arrangements	three years
Depreciation expenses Amortization of the right-of-use asset	$ 575
Intrest expenses in lease liability	139
Amount of lease expenses	630
Amount of lease liability under long term debt and current maturity	$ 2,006	$ 2,522
Minimum [Member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Weighted average incremental borrowing	0.10%
Maximum [Member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Weighted average incremental borrowing	6.70%
Subsidiary [Member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Subsidiaries lease, monthly rent	$ 4
Subsidiaries lease, expiration date	Apr. 30, 2022
NIS [member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Subsidiaries lease, monthly rent	$ 116
EUR [member] \| Subsidiary [Member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Subsidiaries lease, monthly rent	$ 3,500

CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2019

Cash and cash equivalents [abstract]

CASH AND CASH EQUIVALENTS

NOTE 4:-

CASH AND CASH EQUIVALENTS

	Year ended December 31,
	2018		2019

USD cash for immediate withdrawal		5,336		5,766
Non-USD cash for immediate withdrawal		1,380		1,476

		6,716		7,242

OTHER RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2019

Trade and other current receivables [abstract]

Schedule of Other Receivables

	Year ended December 31,
	2018		2019

Government authorities		126		228
Prepaid expenses and other		132		216
BARDA (see also Note 17b)		2,524		-
Former shareholder ( see Note 16c)		4,000		-
Related parties		58		-

		6,840		444

LIABILITIES IN RESPECT OF IIA GRANTS (Schedule of Israeli Innovation Authority Grants) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of israeli innovation authority grants [Abstract]
Balance as of January 1	$ 7,714	$ 7,437
Grants received	248	93
Royalties	(635)	(103)
Amounts carried to Profit or Loss	(392)	287	$ 229
Balance as of Decmber 31	6,935	7,714	$ 7,437
Current maturities	(124)	(146)
Long term liabilities in respect of IIA grants	$ 6,811	$ 7,568

LEASES (Schedule of Disclosures of Right-of-Use Assets) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Cost:
Balance as of January 1, 2019	$ 46
Cumulative effect adjustment on accumulated deficit as a result of adopting IFRS 16	2,522
Additions during the year:
New leases	209
Adjustments for indexation	27
Balance as of December 31, 2019	2,804
Accumulated depreciation:
Balance as of January 1, 2019
Additions during the year:
Depreciation and amortization	575
Balance as of December 31, 2019	575
Depreciated cost :
December 31, 2019	2,229
Buildings [member]
Cost:
Balance as of January 1, 2019
Cumulative effect adjustment on accumulated deficit as a result of adopting IFRS 16	2,350
Additions during the year:
New leases
Adjustments for indexation	27
Balance as of December 31, 2019	2,377
Accumulated depreciation:
Balance as of January 1, 2019
Additions during the year:
Depreciation and amortization	401
Balance as of December 31, 2019	401
Depreciated cost :
December 31, 2019	1,976
Motor vehicles [member]
Cost:
Balance as of January 1, 2019	46
Cumulative effect adjustment on accumulated deficit as a result of adopting IFRS 16	172
Additions during the year:
New leases	209
Adjustments for indexation
Balance as of December 31, 2019	427
Accumulated depreciation:
Balance as of January 1, 2019
Additions during the year:
Depreciation and amortization	174
Balance as of December 31, 2019	174
Depreciated cost :
December 31, 2019	$ 253

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS

12 Months Ended

Dec. 31, 2019

Disclosure of transactions between related parties [abstract]

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS

NOTE 24:-

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:

	Other		Other
	Payables		Recievable
Parent Company (1):

As of December 31, 2018		186		-
As of December 31, 2019		119		-

Other related parties:

As of December 31, 2018		41		58
As of December 31, 2019		95		-

Transactions with related parties:

	Professional Fee (1)		Rent expenses and other
Parent company:
2017		35		817
2018		44		292
2019		52		415

Other related parties:
2017		225		-
2018		162		(246	)
2019		249		(59	)

(1)

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,
	2017		2018		2019

Short-term employee benefits (*)		2,324		2,304		2,533
Share-based compensation		731		276		565

		3,055		2,580		3,098

Number of officers		6		6		7

(*) The amount for 2019 includes one-time payments for previous-CEO on the amount of $196.

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

TRADE RECEIVABLES

12 Months Ended

Dec. 31, 2019

Trade and other current receivables [abstract]

TRADE RECEIVABLES

NOTE 6:-

TRADE RECEIVABLES

	Year ended December 31,
	2018		2019

BARDA (see also Note 17b)		-		3,267
Others receivables		560		840

		560		4,107

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of detailed information about financial instruments [abstract]

Schedule of Sensitivity Tests Relating to Changes in Market Factors

	December 31,
	2017			2018		2019

Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change:
5% increase in exchange rate	$	346		$	31	$	285
5% decrease in exchange rate	$	(346	)	$	31	$	(285

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Financial Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial income:
Interest income	$ 434	$ 412	$ 349
Exchange differences, net	122		57
Financial income	556	412	406
Financial expense:
Interest in respect of IIA grants	925	892	827
Revaluation of liabilities in respect of IFRS16	140
Revaluation of contingent consideration for the purchase of shares	1,690	758	351
Exchange differences, net		219
Finance expenses in respect of deferred Revenue	161	164
Other	67	84	74
Financial expense	$ 2,983	$ 2,117	$ 1,252

EQUITY (Narrative) (Details)	12 Months Ended
EQUITY (Narrative) (Details)	Dec. 31, 2019 shares
Disclosure of classes of share capital [abstract]
Authorized number of shares increased	12,755,492
Additional ordinary shares issued upon vesting of outstanding RSU's	23,956

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Research Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [abstract]
Salary and benefits (including share-based compensation)	$ 2,965	$ 3,703	$ 3,840
Subcontractors	4,694	11,423	8,780
Depreciation and amortization	342	51	42
Cost of materials	311	309	223
Allotment of manufacturing costs	1,621	2,220	1,598
Other research and development expenses	137	209	142
Research and development, gross	10,070	17,915	14,625
Participations:
BARDA funds	(3,785)	(13,238)	(8,565)
Revaluation of liabilities in respect of IIA grants	(1,316)	(605)	(598)
Research and development, net of participations	$ 4,969	$ 4,072	$ 5,462

SEVERANCE PAY LIABILTY, NET (Details)	12 Months Ended
SEVERANCE PAY LIABILTY, NET (Details)	Dec. 31, 2019
Disclosure of defined benefit plans [abstract]
Percentage of monthly deposit by employee of their monthly salary in defined contribution plans	8.33%