0001178913-21-000779 | 20-F | XBRL Viewer

Other comprehensive income (loss)

645

Balance at Dec. 31, 2018

139,637

(25)

(130,715)

8,972

Net profit loss

4,955

Total comprehensive income (loss)

4,955

4,963

Exercise of options

^[1]

Other comprehensive income (loss)

1,234

Balance at Dec. 31, 2019

140,871

(17)

(125,760)

15,169

Net profit loss

(9,196)

(23)

Total comprehensive income (loss)

(23)

(9,196)

(9,219)

Exercise of options

^[1]

1,322

Balance at Dec. 31, 2020

$ 75

$ 142,193

$ (40)

$ (134,956)

$ 7,272

[1]	Represents an amount lower than $1.

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

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

+ References + Details

Cash Flows from Operating Activities:

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 2020-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2020-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2020-01-01

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2020-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2020-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2020-01-01

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2020-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2020-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2020-01-01

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2020-01-01

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2020-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2020-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2020-01-01

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_23&doctype=Standard
-URIDate 2020-01-01

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2020-01-01

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2020-01-01

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2021-01-01
-Name IFRS
-Number 17
-IssueDate 2020-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2020-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2020-01-01

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2020-01-01

+ Details

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

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Net Profit (loss)

$ (9,196)

$ 4,955

$ (1,057)

Adjustments to profit and loss items:

Profit from discontinued operation

(80)

(2,889)

(4,608)

Depreciation and amortization

1,090

1,149

577

Revaluation of liabilities in respect of IIA grants

1,322

1,234

645

828

(392)

287

Revaluation of liabilities in respect of purchase of shares

(433)

1,690

758

Other income from settlement agreement

(7,537)

Revaluation of lease liabilities

305

340

Increase (decrease) in severance pay liability, net

(105)

Net financing income

(297)

(434)

(412)

Un-realized foreign currency (gain) loss

(211)

(152)

182

Adjustments to profit and loss items, total

2,557

441

(10,089)

Changes in asset and liability items:

Decrease (increase) in trade receivables

1,386

(3,553)

(211)

Decrease in inventories

141

206

Decrease (increase) in other receivables

(13)

6,376

(306)

Increase (decrease) in trade payables and accrued expenses

(1,096)

1,355

(536)

Increase (decrease) in other payables and deferred revenues

(479)

247

(161)

Changes in asset and liability items, total

(61)

4,492

(1,008)

Net cash provided by (used in) continuing operating activities

(6,700)

9,888

(12,154)

Net cash used in discontinued operating activities

(195)

(1,599)

Net cash provided by (used in) operating activities

(6,895)

8,289

(12,154)

Cash Flows from Investing Activities:

Purchase of property and equipment

(923)

(792)

(522)

Purchase of intangible assets

(12)

Interest received

274

184

106

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

18,034

(5,050)

(16,612)

Net cash provided by (used in) continuing investing activities

17,385

(5,658)

(17,040)

Net cash used in discontinued investing activities

(1,239)

Net cash provided by (used in) investing activities

17,385

(6,897)

(17,040)

Cash Flows from Financing Activities:

Repayment of leases liabilities

(508)

(630)

Proceeds from exercise of options

^[1]

Proceeds from (repayment of) IIA grants, net

(121)

(376)

Net cash provided by (used in) continuing financing activities

(629)

(1,006)

Exchange rate differences on cash and cash equivalent balances

273

140

(205)

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

10,329

3,364

(29,353)

Decrease in cash and cash equivalents from discontinued activities

(195)

(2,838)

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

7,242

6,716

36,069

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

17,376

7,242

6,716

Supplement disclosure of Non-cash transactions:

ROU asset, net recognized with corresponding lease liability

261

209

Exercise of RSU's

$ 147

$ 97

[1]	Represents an amount lower than $1.

GENERAL

12 Months Ended

Dec. 31, 2020

Disclosure of general [Abstract]

GENERAL

NOTE 1:

GENERAL

General description of the Company and its operations:

MediWound Ltd. which incorporated in Yavne, Israel (the "Company" or "MediWound"), is biopharmaceutical company develops, manufactures and commercializes novel, cost effective, bio- therapeutic solutions for tissue repair and regeneration. The Company’s strategy is centered around its validated proteolytic enzyme platform technology, focused on next-generation bio-active therapies for burn and wound care and biological medicinal products for tissue repair.

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.

On June 29, 2020, the Company has submitted a Biologics License Application (BLA) to the U.S. Food and Drugs Administration (FDA) seeking the approval of NexoBrid in USA.

On 16 September, 2020, FDA provided the Company with notification of acceptance of the BLA for review and assigned a Prescription Drug User Fee Act (“PDUFA”) goal date of June 29, 2021.

The Company sells NexoBrid in Europe and in Israel through its commercial organizations while establishing additional local distribution channels to extend its outreach in the European Union. In other territories the company sells NexoBrid through local distribution channels. In 2019, the Company entered into exclusive license and supply agreements with Vericel Corporation (“Vericel”) to commercialize NexoBrid in North America.

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 third innovative product candidate, MWPC005, is a topically applied biological drug candidate for the treatment of non-melanoma skin cancers,

The Company's securities are listed for trading on NASDAQ since March 2014.

The Company has three wholly owned subsidiaries: MediWound Germany GmbH, acting as Europe (“EU”) marketing authorization holder and EU sales and marketing arm, MediWound UK Limited and MediWound US, Inc. currantly an inactive companies.

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 which has initiated on January 2020, as a medical countermeasure as part of BARDA preparedness for mass casualty events.

On March 3, 2020 BARDA has expanded its awarded contract with MediWound providing supplemental funding to support emergency readiness for NexoBrid deployment (see also Note 17a).

The COVID-19 pandemic has developed rapidly in 2020, with a significant number of cases. Measures taken by various governments to contain the virus have affected economic activity.The Company addressed the challenges associated with the COVID-19 pandemic during the year ended 2020, while prioritizing the health and safety of its workforce and maintaining operational efficiency and flexibility.The Company continued its operations and had no impact on its revenues while achieving cost reduction in its Sales and marketing As well as general and administration expenditures.

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2020

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 Israeli Innovation Authority ("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 IIA, are recognized upon receipt as a liability if future economic benefits are expected from the project that will result in royalty-bearing revenues from sale of products and services. 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 (“ROU”) 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 ROU 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 ROU 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 ROU assets by class of underlying asset:

	Years
Motor vehicles		3
Buildings and equipment		5-8

The Company tests for impairment of the ROU 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 ROU assets, 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 ROU 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 ROU 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 ROU 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 ROU 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		15-33
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:

The revenue recognition is in accordance with IFRS 15, "Revenues from Contracts with Customers" ("the Standard").

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.

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 May 2019, following entrance into the Vericel license and supply agreements, in which Vericel has assumed 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:

The accounting policy for financial instruments in accordance with IFRS 9, "Financial Instruments" ("the Standard") 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 recognition inconsistency, 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.

4. Classification of financial instruments by fair value hierarchy:

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

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

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

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

Offsetting financial instruments:

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

De-recognition of financial instruments:

Financial assets:

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

Financial liabilities:

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

Contingent consideration for purchase of shares:

The contingent consideration liability for purchase of shares is measured at fair value (Level 3 of the fair value hierarchy) and initially recorded against equity. Subsequent changes in the fair value are recognized in profit or loss.

Provisions:

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

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.

Profit / Loss per share:

Profit/loss per share is calculated by dividing the profit/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.

u. 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.

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

12 Months Ended

Dec. 31, 2020

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.

CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2020

Cash and cash equivalents [abstract]

CASH AND CASH EQUIVALENTS

NOTE 4:-

CASH AND CASH EQUIVALENTS

	Year ended December 31,
	2019		2020

USD cash for immediate withdrawal		5,766		13,067
Non-USD cash for immediate withdrawal		1,476		4,309

		7,242		17,376

SHORT-TERM BANK DEPOSITS

12 Months Ended

Dec. 31, 2020

Disclosure of short-term bank deposits [Abstract]

SHORT-TERM BANK DEPOSITS

NOTE 5:-

SHORT-TERM BANK DEPOSITS

	Year ended December 31,
	2019		2020

USD bank deposits (1)		22,036		4,024
Restricted bank deposits (2)		180		184

		22,216		4,208

(1)

The USD deposits bear annual interest of 1.12% for the period of 282 days for 2020 and 2.48%-3.10% for the period of 357-368 days for 2019.

(2)

Restricted bank deposits which are primarily used as security for the Company’s office leases.

TRADE RECEIVABLES

12 Months Ended

Dec. 31, 2020

Classes of current inventories [abstract]

TRADE RECEIVABLES

NOTE 6:-

TRADE RECEIVABLES

	Year ended December 31,
	2019		2020

BARDA (see also Note 17a)		3,267		2,189
Others receivables		840		578

		4,107		2,767

INVENTORIES

12 Months Ended

Dec. 31, 2020

INVENTORIES

NOTE 7:-

INVENTORIES

	Year ended December 31,
	2019		2020

Raw materials		709		631
Finished goods		904		749

		1,613		1,380

OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2020

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

OTHER RECEIVABLES

NOTE 8:-

OTHER RECEIVABLES

	Year ended December 31,
	2019		2020

Government authorities		228		73
Prepaid expenses and other		222		389

		450		462

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2020

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 9:-

PROPERTY, PLANT AND EQUIPMENT, NET

Balance as of December 31, 2020:

	Office furniture		Manufacturing machinery and lab equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2020		301		4,534		124			2,315		7,274
Disposals		-		-		(29	)		-		(29	)
Additions		20		241		73			445		779
Re-classified from RSU assets		-		-		-			144		144
Foreign currency translation		11		-		1			-		12

Balance as of December 31, 2020		332		4,775		169			2,904		8,180

Accumulated Depreciation

Balance as of January 1, 2020		175		2,606		60			2,129		4,970
Disposals		-		-		(29	)		-		(29	)
Additions		18		486		44			49		597
Foreign currency translation		11		-		1			-		12

Balance as of December 31, 2020		204		3,092		76			2,178		5,550

Depreciated cost
December 31, 2020		128		1,683		93			726		2,630

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		17			453		28			11		509
Foreign currency translation		(3	)		-		-			-		(3	)

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

LEASES

12 Months Ended

Dec. 31, 2020

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 (see Note 24a), 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 119 (approximately $37). This sub-lease agreement which was amended on January 1, 2019, expires in October 2022 and provides with 3 years extention period at the sole discretion of the Company which were included in the calculation of the lease liability and ROU asset.

In addition the Company and its subsidiary have operating lease agreements for 14 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		2020

Interest expense on lease liabilities		139		144
Expenses relating to short-term leases		444		566
Total cash outflow for leases (1)		630		652

(1)

As of the year ended December 31,2020 the cash flow for leases includes $144 which was classified under CAPEX as Leashold improvments.

The Company was assisted by external third party 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 RSU assets:

Right-of-use assets

Balance as of December 31, 2020:

	Buildings			Motor vehicles			Total
Cost
Balance as of January 1, 2020		2,362			442			2,804
New leases		-			305			305
Adjustments for indexation		(17	)		(18	)		(35	)
Disposals		(76	)		(217	)		(293	)
Termination of leases		(44	)		-			(44	)

Balance as of December 31, 2020		2,225			512			2,737

Accumulated depreciation
Balance as of January 1, 2020		381			194			575
Depreciation and amortization		249			178			427
Re-classified to Leasehold improvements		144			-			144
Disposals		(76	)		(217	)		(293	)

Balance as of December 31, 2020		698			155			853
Disposals
Depreciated cost
Balance as of December 31, 2020		1,527			357			1,884

Balance as of December 31, 2019:

	Buildings		Motor vehicles		Total
Cost
Balance as of January 1, 2019		-		46		46
Cumulative effect adjustment on accumulated ROU assets as a result of adopting IFRS 16		2,335		187		2,522
New leases		-		209		209
Adjustments for indexation		27		-		27

Balance as of December 31, 2019		2,362		442		2,804

Accumulated depreciation
Balance as of January 1, 2019		-		-		-
Depreciation and amortization		381		194		575

Balance as of December 31, 2019		381		194		575
Depreciated cost
Balance as of December 31, 2019		1,981		248		2,229

The Company recognized depreciation expenses in the amount of $571 which comprise of $427 recorded in the profit and loss and $144 which was re-classified to Leasehold improvements as of 31 December 2020.

Disclosures in respect of lease liabilities:

Lease liabilities

Balance as of December 31, 2020:

	Buildings			Motor vehicles			Total

Balance as of January 1, 2020		2,225			225			2,450
Repayment of leases liabilities		(479	)		(173	)		(652	)
Effect of changes in exchange rates		134			28			162
New finance lease obligation recognized		-			283			283
Adjustments for indexation		(17	)		(18	)		(35	)
Interest		134			10			144
Disposals-Termination of leases		(44	)		(1	)		(45	)
Balance as of December 31, 2020		1,953			354			2,307
Current maturities of long-term leases		(396	)		(170	)		(566	)
Lease liability Balance as of December 31, 2020		1,557			184			1,741

Balance as of December 31, 2019:

	Buildings			Motor vehicles			Total

Balance as of January 1, 2019		-			-			-
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 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 ROU 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.

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about intangible assets [abstract]

INTANGIBLE ASSETS, NET

NOTE 11:-

INTANGIBLE ASSETS, NET

	License and Knowhow
	2019		2020
Cost
Balance as of January 1,		1,538		1,538
Additions		-		-
Balance as of December 31,		1,538		1,538

Accumulated Amortization
Balance as of January 1,		1,043		1,109
Additions		66		66
Balance as of December 31,		1,109		1,175

Amortized cost
Balance as of December 31,		429		363

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.

OTHER PAYABLES

12 Months Ended

Dec. 31, 2020

Trade and other payables [abstract]

OTHER PAYABLES

NOTE 12:-

OTHER PAYABLES

	Year ended December 31,
	2019		2020

Employees and payroll accruals		1,723		1,910
Liability in respect of purchase of shares (see Note 16c)		3,167		667
Related parties		214		225
Deferred Revenues		249		462
Other		384		260

		5,737		3,524

LIABILITIES IN RESPECT OF IIA GRANTS

12 Months Ended

Dec. 31, 2020

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,
	2019			2020

Balance as of January 1,		7,714			6,935
Grants received		248			-
Royalties		(635	)		(235	)
Amounts carried to Profit or Loss		(392	)		828
Balance as of Decmber 31,		6,935			7,528

Current maturities		(124	)		(261	)

Long term liabilities in respect of IIA grants		6,811			7,267

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, 2020 is approximately $ 15,787, while the amortized cost of this liability as of that date is $ 7,528, using the interest method.

FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2020

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.

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,
	2018			2019			2020

Gain (loss) from change:
5% increase in exchange rate	$	31		$	285		$	76
5% decrease in exchange rate	$	(31	)	$	(285	)	$	(76	)

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.

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 payments. The expected cash flows already reflect assumptions about the uncertainty in future defaults, and therefore the Company used a discount rate of 14% that is commensurate with the risk inherent in the expected cash flows.

SEVERANCE PAY LIABILTY, NET

12 Months Ended

Dec. 31, 2020

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.

CONTINGENT LIABILITIES AND COMMITMENTS

12 Months Ended

Dec. 31, 2020

Disclosure of contingent liabilities [abstract]

CONTINGENT LIABILITIES AND COMMITMENTS

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 and for lump sum amounts paid to the company by a third party, the company will pay 2% of the proceeds up to $1,000 and 4% of the proceeds above this amount. 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 2018 and 2019 amounted to $ 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 and 2020 is approximately $ 15,966 and $ 15,787, respectively, 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.

Pursuant to a Settlement Agreement signed on March 2019, 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 was 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, 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 year ending December 31, 2018.

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.

In December 2020, Teva has agreed to a revised consideration that is payable to Teva, in which the company paid $1,000 in cash and became obligated to pay an amount of $2,000 over 2021-2023, in addition to a modified contingent consideration up to the amount of $7,200 in quarterly fixed payments starting 2021 subject to revenues generated from sales of NexoBrid. Total liabilities were recorded as of December 31, 2020 to be approximately $6,587, and financial income of $433 was recorded in profit or loss within financial income of financial expenses.

MATERIAL AGREEMENTS

12 Months Ended

Dec. 31, 2020

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 May 2019 providing supplemental funds and support. In addition, in March 2020 the company was awarded with $5,500 to support emergency readiness for NexoBrid deployment. The amended contract valued up to $159,000. The modified contract includes $82,000 of funding to support development activities to complete the FDA approval process for NexoBrid for use in thermal burn injuries and emergency readiness for NexoBrid deployment, 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 which accepted in August 2020 followed by a second delivery in the forth quarter of 2020. Additional deliveries are expected to occur throughout 2021 on a quarterly basis.

The First BARDA Contract also includes options for BARDA (i) to further fund $10,000 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 $202,000, in the aggregate.

As of December 31, 2020, the Company has recorded $63,183 in funding, in the aggregate, from BARDA under the two contracts as well as the procurement of NexoBrid as a medical countermeasure. The participation by BARDA comprises $31,955 which was classified as reimbursement of research and development expenses. Starting May 2019, following entrance into the Vericel license and supply agreements, participation by BARDA in the amount of $24,613 was classified as Revenues from development services, clinical supply in the amount of $596 was recorded as Revenues from sales of products as well as $6,036 of BARDA procurement which were recorded at the net amount of $3,825 following the split of gross profit agreement with Vericel for the initial BARDA procurement .

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 of 2019, 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.

EQUITY

12 Months Ended

Dec. 31, 2020

Disclosure of classes of share capital [abstract]

EQUITY

NOTE 18:-

EQUITY

Share capital

	Year ended December 31,
	2019		2020

Authorized number of shares		50,000,000		50,000,000

Issued and outstanding number of shares		27,202,795		27,236,752

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 2019, the authorized number of shares was increased by 12,755,492 shares which has a nominal value of $40.

•

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

•

During 2020, the company issued additional 33,958 ordinary shares upon vesting of outstanding RSU’s.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2020

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,
	2018		2019		2020
Cost of Revenues		71		226		115
Research and development		181		375		179
Selling and marketing		63		40		3
General and administrative		330		593		1,025

Total share-based compensation		645		1,234		1,322

Share-based payment plan for employees and directors:

The Company has reserved for issuance stock options and restricted stock units ("RSUs") for total of 3,672,399 ordinary shares.

As of December 31, 2020, 316,621 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

	2018					2019					2020
	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		1,934,735			10.02		2,313,249			9.31		2,334,432			9.18
Option's Granted		665,000			5.12		95,000			4.45		1,274,379			1.43
Option's Exercised		(208,332	)		2.63		-			-		-			-
Option's Forfeited and/or expired		(78,154	)		9.06		(73,817	)		5.17		(11,000	)		7.19

Outstanding options and at end of year		2,313,249			9.31		2,334,432			9.18		3,597,811			6.55

Option's Exercisable at end of year		1,475,451			11.23		1,753,803			4.76		1,952,014			9.98

The following table summarizes information about share options outstanding as of December 31, 2020:

	Options and outstanding as of December 31, 2020
Range of exercise prices	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

1.75-5.15		1,988,129		6.67		2.93
6.72- 9.82		790,782		3.86		9.05
12.89 ‑ 13.76		818,900		2.92		12.94
Total		3,597,811		5.20		6.55

The following table summarizes information about RSU's outstanding as of December 31, 2020:


	RSU's 2018		RSU's 2019			RSU's 2020

Outstanding at beginning of year		-		95,833			108,544
Granted		95,833		36,667			-
Forfeited		-		-			-
Vested		-		(23,956	)		(33,958	)

Outstanding at the end of the period		95,833		108,544			74,587

The fair value of the options and RSU's granted to employees and directors at the grant date for the years ends December 31, 2018, 2019 and 2020 was $1,824 ,$441 and $1,819 respectively.

The options and RSU’s of the Company are managed by a trustee.

On February 22, 2018, the general meeting of the Company approved to extend the exercise period of 208,332 options previously granted to Company's former 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, the 208,332 options 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.

On April 23, 2020, the Company's Board of Directors approved the grant of 1,274,379 options to purchase ordinary shares under the "2014 Share Incentive Plan", for an exercise price of $ 1.75 per share to its employees, managments and board members of the Company. The fair value of the options granted, as of the grant date, was estimated at approximately $1,819.

The fair value of the Company's share options granted to employees and directors for the years ended December 31, 2018, 2019 and 2020 was estimated using the binomial option pricing models using the following assumptions:

	December 31,
	2018		2019		2020

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		44-54		41-53		51-71
Risk‑free interest rate (%)		1.63-2.69		1.85-2.45		0.2-0.9
Early exercise factor (%)		100-150		150		100-150
Weighted average share prices (Dollar)		4.07		4.83		2.43

TAXES ON INCOME

12 Months Ended

Dec. 31, 2020

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 2020, 2019 and 2018.

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

•

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

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

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

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

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 2020, 2019 and 2018.

Final tax assessments:

The Company has finalized its tax assessments through the 2014 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, 2020, the Company had carryforward losses and other temporary differences mainly from R&D expenses together amounting to approximately $130,000.

Deferred taxes:

The Company did not recognize deferred tax assets for carryforward losses and other temporary differences at the amount of approximately $6,700 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, 2018, 2019 and 2020 as a result of its carryforward losses.

Theoretical tax:

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

DISCONTINUED OPERATION

12 Months Ended

Dec. 31, 2020

Disclosure of discontinued operation [Abstract]

DISCONTINUED OPERATION

NOTE 21:-

DISCONTINUED OPERATION

On September 15, 2014, a Statement of Claim was filed against the Company by some shareholders of Polyheal (the "Plaintiffs") related to '2010 PolyHeal Agreement' in which PolyHeal granted the Company an exclusive global license to manufacture, develop and commercialize all the Polyheal Products in consideration for royalty payments.

During December 2017, following the TelAviv District Court Ruling, 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"). 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 new series of settlement agreements (the "New PolyHeal Settlement Agreements") with the majority of the shareholders of Polyheal, including Clal Biotechnology Industries Ltd., its controlling shareholder. 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.

In 2020 the Company finalized PolyHeal Settlement Agreements and paid $195 for 1,558 shares of PolyHeal. As of December 31, 2020, the provision for liability in respect of discontinued operation, was fully offset.

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST

12 Months Ended

Dec. 31, 2020

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

Additional information on Revenues:

Major customers:

BARDA and Vericel contributed 83% and 0% of the Company’s total revenues, in 2020, 34% and 55%, in 2019, and 0% and 0% in 2018, respectively. (see also Note 17).

No other customer contributed 10% or more of our Revenues in 2020 and 2019.

Revenue Re-classification:

Revenues from distributions agreements which recognized as right to access and does not have a stand alone value were classified as revenues from sale of products in the year ended 31, December 2018, 2019 in the amount of $176, $218 respectively.

Geographic information:

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

	Year ended December 31,
	2018		2019		2020

USA ( see also Note 17a, 17b)		-		28,504		18,030
EU and other international markets		3,401		3,285		3,733

		3,401		31,789		21,763

Cost of Revenues:

Cost of Revenues from sale of products

	Year ended December 31,
	2018			2019			2020

Salary and benefits (including share-based compensation)		2,212			1,916			2,139
Subcontractors		72			89			153
Depreciation and amortization		474			512			554
Cost of materials		468			456			704
Other manufacturing expenses		783			657			840
Decrease in inventory of finished products		299			344			155
Allotment of manufacturing costs to R&D		(2,220	)		(1,621	)		(1,394	)

		2,088			2,353			3,151

Cost of Revenues from development services

	Year ended December 31,
	2018		2019		2020

Salary and benefits		-		1,404		2,320
Subcontractors		-		7,412		8,747

		-		8,816		11,067

Cost of Revenues from license agreements

	Year ended December 31,
	2018		2019		2020

Royalties payments		-		680		-

		-		680		-

Research and development expenses, net of participations:

	Year ended December 31,
	2018			2019			2020

Salary and benefits (including share-based compensation)		3,703			2,965			2,094
Subcontractors		11,423			4,694			3,173
Depreciation and amortization		51			342			346
Cost of materials		309			311			517
Allotment of manufacturing costs		2,220			1,621			1,394
Other research and development expenses		209			137			174

Research and development, gross		17,915			10,070			7,698

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

		4,072			4,969			7,698

d. Selling and marketing expenses:

	Year ended December 31,
	2018		2019		2020

Salary and benefits (including share based compensation) (1)		2,343		2,028		1,700
Marketing and medical support		1,055		1,298		740
Depreciation and amortization		9		49		82
Shipping and delivery		192		200		282
Registration and marketing license fees		589		489		424

		4,188		4,064		3,228

(1)

The salary costs for the year ended December 31,2020 Includes one time payment of $243 derived from restructuring astrategy at the EU subsidery.

General and administrative expenses:

	Year ended December 31,
	2018		2019		2020

Salary and benefits (including share‑based compensation)		2,035		2,621		2,784
Professional fees		1,361		1,628		2,267
Depreciation and amortization		43		247		108
Other		360		746		300

		3,799		5,242		5,459

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,
	2018		2019		2020
Financial income:
Interest income		412		434		297
Revaluation of liabilities in respect of the purchase of shares		-		-		433
Exchange differences, net		-		122		113

		412		556		843
Financial expense:
Interest in respect of IIA grants		892		925		832
Revaluation of liabilities in respect of IFRS16		-		140		144
Revaluation of liabilities in respect of the purchase of shares		758		1,690		-
Exchange differences, net		219		-		-
Finance expenses in respect of deferred Revenues		164		161		247
Other		84		67		56

		2,117		2,983		1,279

NET PROFIT (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2020

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,
	2018					2019				2020
	Weighted average number of shares		Loss			Weighted average number of shares		Profit		Weighted average number of shares		Loss

Basic and diluted profit (loss)		27,113,617		(5,665	)		27,178,839		2,066		27,209,878		(9,276	)

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,
	2018				2019				2020
	Weighted average number of shares		Profit		Weighted average number of shares		Profit		Weighted average number of shares		Profit

Basic and diluted profit		27,113,617		4,608		27,178,839		2,889		27,209,878		80

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

	Year ended December 31,
	2018			2019		2020
Basic and Diluted loss per share:
Profit (loss) from from continuing operations		(0.21	)		0.08		(0.34	)

Profit from discontinued operation		0.17			0.10		-

Profit (loss) per share		(0.04	)		0.18		(0.34	)

BALANCES AND TRANSACTIONS WITH RELATED PARTIES AND KEY OFFICERS

12 Months Ended

Dec. 31, 2020

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 Payables
Parent Company (1):

As of December 31, 2019		119
As of December 31, 2020		138

Other related parties:

As of December 31, 2019		95
As of December 31, 2020		86

Transactions with related parties:

	Professional Fee (1)		Rent expenses and other
Parent company:
2018		44		292
2019		52		415
2020		54		446

Other related parties:
2018		162		(246	)
2019		249		(59	)
2020		272		-

(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 $537, $450 and $486 for the years 2018, 2019 and 2020, respectively, as well as payment for the purchasing of a patent in amount of $12 in 2018.

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,
	2018		2019		2020
Short-term employee benefits (*)		2,304		2,533		1,993
Share-based compensation		276		565		467

		2,580		3,098		2,460
Number of officers		6		7		5

(*) 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.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2020

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

Liability in respect of Israeli Innovation Authority ("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 ROU assets by class of underlying asset:

	Years
Motor vehicles		3
Buildings and equipment		5-8

The Company tests for impairment of the ROU 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		15-33
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.

Revenues recognition

Revenues recognition:

The revenue recognition is in accordance with IFRS 15, "Revenues from Contracts with Customers" ("the Standard").

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:

Research and development expenses

l.	Research and development expenses:

Funding by BARDA

m.	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 in accordance with IFRS 9, "Financial Instruments" ("the Standard") 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.

4. Classification of financial instruments by fair value hierarchy:

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

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

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

Offsetting financial instruments:

De-recognition of financial instruments:

Financial assets:

Financial liabilities:

Contingent consideration for purchase of shares:

Provisions

p.	Provisions:

Short-term employee benefits and severance pay liability, net

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

The Company has several employee benefit plans:

Short-term employee benefits:

Post-employment benefits:

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

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

Disclosure of significant accounting policies [Abstract]

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

Equity-settled transactions

Discontinued operation

s.	Discontinued operation:

Profit / Loss per share

t.	Profit / Loss per share:

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

Reclassification

u.	Reclassification

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

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
Buildings 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		15-33
Computers		33
Leasehold improvements	See below

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2020

Cash and cash equivalents [abstract]

Schedule of Cash and Cash Equivalents

	Year ended December 31,
	2019		2020

USD cash for immediate withdrawal		5,766		13,067
Non-USD cash for immediate withdrawal		1,476		4,309

		7,242		17,376

SHORT-TERM BANK DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of short-term bank deposits [Abstract]

Schedule of Short-Term Bank Deposits

	Year ended December 31,
	2019		2020

USD bank deposits (1)		22,036		4,024
Restricted bank deposits (2)		180		184

		22,216		4,208

(1)

The USD deposits bear annual interest of 1.12% for the period of 282 days for 2020 and 2.48%-3.10% for the period of 357-368 days for 2019.

(2)

Restricted bank deposits which are primarily used as security for the Company’s office leases.

TRADE RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Trade Receivables

	Year ended December 31,
	2019		2020

BARDA (see also Note 17a)		3,267		2,189
Others receivables		840		578

		4,107		2,767

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2020

Classes of current inventories [abstract]

Schedule of Inventories

	Year ended December 31,
	2019		2020

Raw materials		709		631
Finished goods		904		749

		1,613		1,380

OTHER RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Other Receivables

	Year ended December 31,
	2019		2020

Government authorities		228		73
Prepaid expenses and other		222		389

		450		462

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2020

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

Schedule of Property, Plant and Equipment, Net

Balance as of December 31, 2020:

	Office furniture		Manufacturing machinery and lab equipment		Computers			Leasehold improvements		Total
Cost
Balance as of January 1, 2020		301		4,534		124			2,315		7,274
Disposals		-		-		(29	)		-		(29	)
Additions		20		241		73			445		779
Re-classified from RSU assets		-		-		-			144		144
Foreign currency translation		11		-		1			-		12

Balance as of December 31, 2020		332		4,775		169			2,904		8,180

Accumulated Depreciation

Balance as of January 1, 2020		175		2,606		60			2,129		4,970
Disposals		-		-		(29	)		-		(29	)
Additions		18		486		44			49		597
Foreign currency translation		11		-		1			-		12

Balance as of December 31, 2020		204		3,092		76			2,178		5,550

Depreciated cost
December 31, 2020		128		1,683		93			726		2,630

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		17			453		28			11		509
Foreign currency translation		(3	)		-		-			-		(3	)

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

LEASES (Tables)

12 Months Ended

Dec. 31, 2020

Leases

Schedule of Information on Leases

Information on leases:

	Year ended December 31,
	2019		2020

Interest expense on lease liabilities		139		144
Expenses relating to short-term leases		444		566
Total cash outflow for leases (1)		630		652

(1)

As of the year ended December 31,2020 the cash flow for leases includes $144 which was classified under CAPEX as Leashold improvments.

Schedule of Disclosures of Right-of-Use Assets

Disclosures in respect of RSU assets:

Right-of-use assets

Balance as of December 31, 2020:

	Buildings			Motor vehicles			Total
Cost
Balance as of January 1, 2020		2,362			442			2,804
New leases		-			305			305
Adjustments for indexation		(17	)		(18	)		(35	)
Disposals		(76	)		(217	)		(293	)
Termination of leases		(44	)		-			(44	)

Balance as of December 31, 2020		2,225			512			2,737

Accumulated depreciation
Balance as of January 1, 2020		381			194			575
Depreciation and amortization		249			178			427
Re-classified to Leasehold improvements		144			-			144
Disposals		(76	)		(217	)		(293	)

Balance as of December 31, 2020		698			155			853
Disposals
Depreciated cost
Balance as of December 31, 2020		1,527			357			1,884

Balance as of December 31, 2019:

	Buildings		Motor vehicles		Total
Cost
Balance as of January 1, 2019		-		46		46
Cumulative effect adjustment on accumulated ROU assets as a result of adopting IFRS 16		2,335		187		2,522
New leases		-		209		209
Adjustments for indexation		27		-		27

Balance as of December 31, 2019		2,362		442		2,804

Accumulated depreciation
Balance as of January 1, 2019		-		-		-
Depreciation and amortization		381		194		575

Balance as of December 31, 2019		381		194		575
Depreciated cost
Balance as of December 31, 2019		1,981		248		2,229

Schedule of Disclosures of Lease Liabilities

Disclosures in respect of lease liabilities:

Lease liabilities

Balance as of December 31, 2020:

	Buildings			Motor vehicles			Total

Balance as of January 1, 2020		2,225			225			2,450
Repayment of leases liabilities		(479	)		(173	)		(652	)
Effect of changes in exchange rates		134			28			162
New finance lease obligation recognized		-			283			283
Adjustments for indexation		(17	)		(18	)		(35	)
Interest		134			10			144
Disposals-Termination of leases		(44	)		(1	)		(45	)
Balance as of December 31, 2020		1,953			354			2,307
Current maturities of long-term leases		(396	)		(170	)		(566	)
Lease liability Balance as of December 31, 2020		1,557			184			1,741

Balance as of December 31, 2019:

	Buildings			Motor vehicles			Total

Balance as of January 1, 2019		-			-			-
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

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about intangible assets [abstract]

Schedule of Intangible Assets, Net

	License and Knowhow
	2019		2020
Cost
Balance as of January 1,		1,538		1,538
Additions		-		-
Balance as of December 31,		1,538		1,538

Accumulated Amortization
Balance as of January 1,		1,043		1,109
Additions		66		66
Balance as of December 31,		1,109		1,175

Amortized cost
Balance as of December 31,		429		363

OTHER PAYABLES (Tables)

12 Months Ended

Dec. 31, 2020

Trade and other payables [abstract]

Schedule of Other Payables

	Year ended December 31,
	2019		2020

Employees and payroll accruals		1,723		1,910
Liability in respect of purchase of shares (see Note 16c)		3,167		667
Related parties		214		225
Deferred Revenues		249		462
Other		384		260

		5,737		3,524

LIABILITIES IN RESPECT OF IIA GRANTS (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of israeli innovation authority grants [Abstract]

Schedule of Israeli Innovation Authority Grants

	Year ended December 31,
	2019			2020

Balance as of January 1,		7,714			6,935
Grants received		248			-
Royalties		(635	)		(235	)
Amounts carried to Profit or Loss		(392	)		828
Balance as of Decmber 31,		6,935			7,528

Current maturities		(124	)		(261	)

Long term liabilities in respect of IIA grants		6,811			7,267

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about financial instruments [abstract]

Schedule of Sensitivity Tests Relating to Changes in Market Factors

	December 31,
	2018			2019			2020

Gain (loss) from change:
5% increase in exchange rate	$	31		$	285		$	76
5% decrease in exchange rate	$	(31	)	$	(285	)	$	(76	)

EQUITY (Tables)

12 Months Ended

Dec. 31, 2020

Equity

Schedule of Share Capital

Share capital

	Year ended December 31,
	2019		2020

Authorized number of shares		50,000,000		50,000,000

Issued and outstanding number of shares		27,202,795		27,236,752

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2018		2019		2020
Cost of Revenues		71		226		115
Research and development		181		375		179
Selling and marketing		63		40		3
General and administrative		330		593		1,025

Total share-based compensation		645		1,234		1,322

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

	2018					2019					2020
	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		1,934,735			10.02		2,313,249			9.31		2,334,432			9.18
Option's Granted		665,000			5.12		95,000			4.45		1,274,379			1.43
Option's Exercised		(208,332	)		2.63		-			-		-			-
Option's Forfeited and/or expired		(78,154	)		9.06		(73,817	)		5.17		(11,000	)		7.19

Outstanding options and at end of year		2,313,249			9.31		2,334,432			9.18		3,597,811			6.55

Option's Exercisable at end of year		1,475,451			11.23		1,753,803			4.76		1,952,014			9.98

Schedule of Information About Share Options Outstanding

The following table summarizes information about share options outstanding as of December 31, 2020:

	Options and outstanding as of December 31, 2020
Range of exercise prices	Number of options		Weighted Average Remaining contractual life		Weighted average exercise price

1.75-5.15		1,988,129		6.67		2.93
6.72- 9.82		790,782		3.86		9.05
12.89 ‑ 13.76		818,900		2.92		12.94
Total		3,597,811		5.20		6.55

Schedule of Fair Value Assumptions

	December 31,
	2018		2019		2020

Dividend yield (%)		0		0		0
Expected volatility of the share prices (%)		44-54		41-53		51-71
Risk‑free interest rate (%)		1.63-2.69		1.85-2.45		0.2-0.9
Early exercise factor (%)		100-150		150		100-150
Weighted average share prices (Dollar)		4.07		4.83		2.43

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, 2020:


	RSU's 2018		RSU's 2019			RSU's 2020

Outstanding at beginning of year		-		95,833			108,544
Granted		95,833		36,667			-
Forfeited		-		-			-
Vested		-		(23,956	)		(33,958	)

Outstanding at the end of the period		95,833		108,544			74,587

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

12 Months Ended

Dec. 31, 2020

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,
	2018		2019		2020

USA ( see also Note 17a, 17b)		-		28,504		18,030
EU and other international markets		3,401		3,285		3,733

		3,401		31,789		21,763

Schedule of Cost of Revenues Products

Cost of Revenues from sale of products

	Year ended December 31,
	2018			2019			2020

Salary and benefits (including share-based compensation)		2,212			1,916			2,139
Subcontractors		72			89			153
Depreciation and amortization		474			512			554
Cost of materials		468			456			704
Other manufacturing expenses		783			657			840
Decrease in inventory of finished products		299			344			155
Allotment of manufacturing costs to R&D		(2,220	)		(1,621	)		(1,394	)

		2,088			2,353			3,151

Schedule of Cost of Revenues Services

Cost of Revenues from development services

	Year ended December 31,
	2018		2019		2020

Salary and benefits		-		1,404		2,320
Subcontractors		-		7,412		8,747

		-		8,816		11,067

Schedule of Cost of Revenues License

Cost of Revenues from license agreements

	Year ended December 31,
	2018		2019		2020

Royalties payments		-		680		-

		-		680		-

Schedule of Research Expenses

Research and development expenses, net of participations:

	Year ended December 31,
	2018			2019			2020

Salary and benefits (including share-based compensation)		3,703			2,965			2,094
Subcontractors		11,423			4,694			3,173
Depreciation and amortization		51			342			346
Cost of materials		309			311			517
Allotment of manufacturing costs		2,220			1,621			1,394
Other research and development expenses		209			137			174

Research and development, gross		17,915			10,070			7,698

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

		4,072			4,969			7,698

Schedule of Selling Expenses

Selling and marketing expenses:

	Year ended December 31,
	2018		2019		2020

Salary and benefits (including share based compensation) (1)		2,343		2,028		1,700
Marketing and medical support		1,055		1,298		740
Depreciation and amortization		9		49		82
Shipping and delivery		192		200		282
Registration and marketing license fees		589		489		424

		4,188		4,064		3,228

(1)

The salary costs for the year ended December 31,2020 Includes one time payment of $243 derived from restructuring astrategy at the EU subsidery.

Schedule of General Expenses

General and administrative expenses:

	Year ended December 31,
	2018		2019		2020

Salary and benefits (including share‑based compensation)		2,035		2,621		2,784
Professional fees		1,361		1,628		2,267
Depreciation and amortization		43		247		108
Other		360		746		300

		3,799		5,242		5,459

Schedule of Financial Expense

Financial income and expense:

	Year ended December 31,
	2018		2019		2020
Financial income:
Interest income		412		434		297
Revaluation of liabilities in respect of the purchase of shares		-		-		433
Exchange differences, net		-		122		113

		412		556		843
Financial expense:
Interest in respect of IIA grants		892		925		832
Revaluation of liabilities in respect of IFRS16		-		140		144
Revaluation of liabilities in respect of the purchase of shares		758		1,690		-
Exchange differences, net		219		-		-
Finance expenses in respect of deferred Revenues		164		161		247
Other		84		67		56

		2,117		2,983		1,279

NET PROFIT (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

Earnings per share [abstract]

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

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

	Year ended December 31,
	2018					2019				2020
	Weighted average number of shares		Loss			Weighted average number of shares		Profit		Weighted average number of shares		Loss

Basic and diluted profit (loss)		27,113,617		(5,665	)		27,178,839		2,066		27,209,878		(9,276	)

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,
	2018				2019				2020
	Weighted average number of shares		Profit		Weighted average number of shares		Profit		Weighted average number of shares		Profit

Basic and diluted profit		27,113,617		4,608		27,178,839		2,889		27,209,878		80

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

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

	Year ended December 31,
	2018			2019		2020
Basic and Diluted loss per share:
Profit (loss) from from continuing operations		(0.21	)		0.08		(0.34	)

Profit from discontinued operation		0.17			0.10		-

Profit (loss) per share		(0.04	)		0.18		(0.34	)

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

12 Months Ended

Dec. 31, 2020

Disclosure of transactions between related parties [abstract]

Schedule of Balances of Related Parties


	Other Payables
Parent Company (1):

As of December 31, 2019		119
As of December 31, 2020		138

Other related parties:

As of December 31, 2019		95
As of December 31, 2020		86

Schedule of Transactions with Related Parties

Transactions with related parties:

	Professional Fee (1)		Rent expenses and other
Parent company:
2018		44		292
2019		52		415
2020		54		446

Other related parties:
2018		162		(246	)
2019		249		(59	)
2020		272		-

(1)

Schedule of Compensation of Officers of Company

	Year ended December 31,
	2018		2019		2020
Short-term employee benefits (*)		2,304		2,533		1,993
Share-based compensation		276		565		467

		2,580		3,098		2,460
Number of officers		6		7		5

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

GENERAL (Details)	12 Months Ended
GENERAL (Details)	Dec. 31, 2020
PolyHeal Ltd. [Member]
Disclosure of associates [line items]
Ownership percentage	10.00%

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

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Amortization Periods of Right-of-Use Assets) (Details)	12 Months Ended
	Dec. 31, 2020
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

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Depreciation on Straight-line Basis Over Useful Life of Assets) (Details)	12 Months Ended
	Dec. 31, 2020
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 %)	15-33
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.

CASH AND CASH EQUIVALENTS (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents [abstract]
USD cash for immediate withdrawal	$ 13,067	$ 5,766
Non-USD cash for immediate withdrawal	4,309	1,476
Cash and cash equivalents	$ 17,376	$ 7,242	$ 6,716	$ 36,069

SHORT-TERM BANK DEPOSITS (Narrative) (Details)	12 Months Ended
SHORT-TERM BANK DEPOSITS (Narrative) (Details)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial instruments by type of interest rate [line items]
Period of bank deposits	282 days
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]
Disclosure of financial instruments by type of interest rate [line items]
Deposit interest rate	1.12%
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%

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

Dec. 31, 2020

Dec. 31, 2019

Disclosure of short-term bank deposits [Abstract]

USD bank deposits

^[1]

$ 4,024

$ 22,036

Restricted bank deposits

^[2]

184

180

Short-term bank deposits

$ 4,208

$ 22,216

[1]	The USD deposits bear annual interest of 1.12% for the period of 282 days for 2020 and 2.48%-3.10% for the period of 357-368 days for 2019.
[2]	Restricted bank deposits which are primarily used as security for the Company's office leases.

TRADE RECEIVABLES (Schedule of Trade Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and other current receivables [abstract]
BARDA (see also Note 17a)	$ 2,189	$ 3,267
Others receivables	578	840
Receivable from BARDA	$ 2,767	$ 4,107

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Classes of current inventories [abstract]
Raw materials	$ 631	$ 709
Finished goods	749	904
Inventories	$ 1,380	$ 1,613

OTHER RECEIVABLES (Schedule of Other Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and other current receivables [abstract]
Government authorities	$ 73	$ 228
Prepaid expenses and other	389	222
Other receivables	$ 462	$ 450

PROPERTY, PLANT AND EQUIPMENT, NET (Schedule of Property, Plant and Equipment, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Balance	$ 2,304
Balance	2,630	$ 2,304
Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	7,274	6,522
Disposals	(29)	(38)
Additions	779	792
Re-classified from RSU assets	144
Foreign currency translation	12	(2)
Balance	8,180	7,274
Cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	301	243
Disposals
Additions	20	60
Re-classified from RSU assets
Foreign currency translation	11	(2)
Balance	332	301
Cost [Member] \| Manufacturing machinery and lab equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	4,534	4,054
Disposals
Additions	241	480
Re-classified from RSU assets
Foreign currency translation
Balance	4,775	4,534
Cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	124	102
Disposals	(29)	(38)
Additions	73	60
Re-classified from RSU assets
Foreign currency translation	1
Balance	169	124
Cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,315	2,123
Disposals
Additions	445	192
Re-classified from RSU assets	144
Foreign currency translation
Balance	2,904	2,315
Accumulated Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Additions	597	509
Foreign currency translation	12	(3)
Accumulated Depreciation [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	175	161
Disposals
Additions	18	17
Foreign currency translation	11	(3)
Balance	204	175
Accumulated Depreciation [Member] \| Manufacturing machinery and lab equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,606	2,153
Disposals
Additions	486	453
Foreign currency translation
Balance	3,092	2,606
Accumulated Depreciation [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	60	70
Disposals	(29)	(38)
Additions	44	28
Foreign currency translation	1
Balance	76	60
Accumulated Depreciation [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,129	2,118
Disposals
Additions	49	11
Foreign currency translation
Balance	2,178	2,129
Depreciated cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	2,304
Balance	2,630	2,304
Depreciated cost [Member] \| Office furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	126
Balance	128	126
Depreciated cost [Member] \| Manufacturing machinery and lab equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	1,928
Balance	1,683	1,928
Depreciated cost [Member] \| Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	64
Balance	93	64
Depreciated cost [Member] \| Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	186
Balance	726	186
Total [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance	4,970	4,502
Balance	5,550	4,970
Disposals [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Disposals	$ (29)	$ (38)

LEASES (Narrative) (Details) ₪ in Thousands, $ in Thousands	12 Months Ended
LEASES (Narrative) (Details) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 USD ($) ft² Vehicles	Dec. 31, 2020 ILS (₪) ft² Vehicles	Jan. 02, 2019 USD ($)
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Subsidiaries lease, area \| ft²	3,000	3,000
Subsidiaries lease, monthly rent	$ 37
Subsidiaries lease, expiration date	Oct. 31, 2022	Oct. 31, 2022
Subsidiaries lease, extention period	3 years	3 years
Number of vehicles in operating lease arrangements \| Vehicles	14	14
Period of vehicles operating lease arrangements	three years	three years
Depreciation expenses	$ 427
Re-classified to leasehold improvements	144
Amount of lease liability under long term debt and current maturity	$ 1,741		$ 2,522
Minimum [Member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Weighted average incremental borrowing	0.10%
Maximum [Member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Weighted average incremental borrowing	6.70%
NIS [member]
DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeLineItems [Line Items]
Subsidiaries lease, monthly rent \| ₪		₪ 119

LEASES (Schedule of Information on Leases) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Leases

Interest expense on lease liabilities

$ 144

$ 139

Expenses relating to short-term leases

566

444

Total cash outflow for leases

^[1]

$ 652

$ 630

[1]	As of the year ended December 31,2020 the cash flow for leases includes $144 which was classified under CAPEX as Leashold improvments.

LEASES (Schedule of Disclosures of Right-of-Use Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cost
Balance as of January 1,	$ 2,804	$ 46
Cumulative effect adjustment on accumulated ROU assets as a result of adopting IFRS 16		2,522
Additions during the year
New leases	305	209
Adjustments for indexation	(35)	27
Disposals	(293)
Termination of leases	(44)
Balance as of December 31,	2,737	2,804
Accumulated depreciation
Balance as of January 1,	575
Additions during the year
Depreciation and amortization	427	575
Re-classified to Leasehold improvements	144
Disposals	(293)
Balance as of December 31,	853	575
Depreciated cost
December 31,	1,884	2,229
Buildings [member]
Cost
Balance as of January 1,	2,362
Cumulative effect adjustment on accumulated ROU assets as a result of adopting IFRS 16		2,335
Additions during the year
New leases
Adjustments for indexation	(17)	27
Disposals	(76)
Termination of leases	(44)
Balance as of December 31,	2,225	2,362
Accumulated depreciation
Balance as of January 1,	381
Additions during the year
Depreciation and amortization	249	381
Re-classified to Leasehold improvements	144
Disposals	(76)
Balance as of December 31,	698	381
Depreciated cost
December 31,	1,527	1,981
Motor vehicles [member]
Cost
Balance as of January 1,	442	46
Cumulative effect adjustment on accumulated ROU assets as a result of adopting IFRS 16		187
Additions during the year
New leases	305	209
Adjustments for indexation	(18)
Disposals	(217)
Termination of leases
Balance as of December 31,	512	442
Accumulated depreciation
Balance as of January 1,	194
Additions during the year
Depreciation and amortization	178	194
Re-classified to Leasehold improvements
Disposals	(217)
Balance as of December 31,	155	194
Depreciated cost
December 31,	$ 357	$ 248

LEASES (Schedule of Disclosures of Lease Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of maturity analysis of operating lease payments [line items]
Repayment of leases liabilities	$ (508)	$ (630)
Interest	144	139
Balance as of December 31,	1,741	2,006
Lease liabilities [Member]
Disclosure of maturity analysis of operating lease payments [line items]
Balance as of December 31,	2,450
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16		2,522
Repayment of leases liabilities	(652)	(630)
Effect of changes in exchange rates	162	199
New finance lease obligation recognized	283	193
Adjustments for indexation	(35)	27
Interest	144	139
Disposals-Termination of leases	(45)
Balance as of December 31,	2,307	2,450
Current maturities of long-term leases	(566)	(444)
Balance as of December 31,	1,741	2,006
Lease liabilities [Member] \| Buildings [member]
Disclosure of maturity analysis of operating lease payments [line items]
Balance as of December 31,	2,225
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16		2,344
Repayment of leases liabilities	(479)	(458)
Effect of changes in exchange rates	134	189
New finance lease obligation recognized
Adjustments for indexation	(17)	11
Interest	134	139
Disposals-Termination of leases	(44)
Balance as of December 31,	1,953	2,225
Current maturities of long-term leases	(396)	(403)
Balance as of December 31,	1,557	1,822
Lease liabilities [Member] \| Motor vehicles [member]
Disclosure of maturity analysis of operating lease payments [line items]
Balance as of December 31,	225
Cumulative effect adjustment on accumulated liabilities as a result of adopting IFRS 16		178
Repayment of leases liabilities	(173)	(172)
Effect of changes in exchange rates	28	10
New finance lease obligation recognized	283	193
Adjustments for indexation	(18)	16
Interest	10
Disposals-Termination of leases	(1)
Balance as of December 31,	354	225
Current maturities of long-term leases	(170)	(41)
Balance as of December 31,	$ 184	$ 184

INTANGIBLE ASSETS, NET (Schedule of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Balance, opening	$ 429
Balance, ending	363	$ 429
Cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance, opening	1,538	1,538
Additions
Balance, ending	1,538	1,538
Accumulated Amortization [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance, opening	1,109	1,043
Additions	66	66
Balance, ending	1,175	1,109
Amortized cost [Member] \| License and Knowhow [Member]
Disclosure of detailed information about intangible assets [line items]
Balance, opening	429
Balance, ending	$ 363	$ 429

OTHER PAYABLES (Schedule of Other Payables) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and other payables [abstract]
Employees and payroll accruals	$ 1,910	$ 1,723
Liability in respect of purchase of shares (see Note 16c)	667	3,167
Related parties	225	214
Deferred Revenues	462	249
Other	260	384
Other payables	$ 3,524	$ 5,737

LIABILITIES IN RESPECT OF IIA GRANTS (Narrative) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Disclosure of israeli innovation authority grants [Abstract]
Grants received net of royalties	$ 15,787
Amortized cost of grants received	$ 7,528

LIABILITIES IN RESPECT OF IIA GRANTS (Schedule of Israeli Innovation Authority Grants) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of israeli innovation authority grants [Abstract]
Balance as of January 1	$ 6,935	$ 7,714
Grants received		248
Royalties	(235)	(635)
Amounts carried to Profit or Loss	828	(392)	$ 287
Balance as of Decmber 31	7,528	6,935	$ 7,714
Current maturities	(261)	(124)
Long term liabilities in respect of IIA grants	$ 7,267	$ 6,811

FINANCIAL INSTRUMENTS (Narrative) (Details)	Dec. 31, 2020
Interest rate for a loan [Member]
Disclosure of detailed information about financial instruments [line items]
Discount rate	12.00%
Uncertainty in future defaults [Member]
Disclosure of detailed information about financial instruments [line items]
Discount rate	14.00%

FINANCIAL INSTRUMENTS (Schedule of Sensitivity Tests Relating to Changes in Market Factors) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ 211	$ 152	$ (182)
5% increase in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	76	285	31
5% decrease in exchange rate [Member]
Sensitivity test to changes in NIS and EURO exchange rates
Gain (loss) from change in exchange rate	$ (76)	$ (285)	$ (31)

SEVERANCE PAY LIABILTY, NET (Details)	12 Months Ended
SEVERANCE PAY LIABILTY, NET (Details)	Dec. 31, 2020
Disclosure of defined benefit plans [abstract]
Percentage of monthly deposit by employee of their monthly salary in defined contribution plans	8.33%

CONTINGENT LIABILITIES AND COMMITMENTS (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Sep. 02, 2013	Mar. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of contingent liabilities [line items]
Royalty payments			$ 235	$ 635
Revenues from sale or license				17,500
Other income from settlement agreement					7,537
Profit (loss) from discontinued operation			80	2,889	4,608
Financial income			843	556	412
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
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%
Third party [Member] \| Patents and intellectual property [Member] \| Sub-licensing of patents [Member] \| Bottom of range [Member]
Disclosure of contingent liabilities [line items]
Percentage of one-time lump sum payment amount			2.00%
One-time lump-sum amount			$ 1,000
Third party [Member] \| Patents and intellectual property [Member] \| Sub-licensing of patents [Member] \| Top of range [Member]
Disclosure of contingent liabilities [line items]
Percentage of one-time lump sum payment amount			4.00%
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
Revised cash consideration paid			$ 1
Obligation for contingent consideration			2,000
Modified contingent consideration			7,200
Total liabilities			6,587
Financial income			$ 433
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			$ 15,787	$ 15,966
Maximum aggregate royalties paid in percentage			100.00%
Interest rate			12-month LIBOR

MATERIAL AGREEMENTS (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended	12 Months Ended
MATERIAL AGREEMENTS (Details) - USD ($) $ in Thousands	May 06, 2019	Mar. 31, 2020	Jan. 31, 2020	Sep. 30, 2018	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of contingent liabilities [line items]
Royalty payments						$ 235	$ 635
Revenues from sale or license							17,500
Research and development						7,698	4,969	4,072
Revenues from development services						13,935	10,678
Revenues from sales						7,828	3,611	3,401
Revenues net						21,763	$ 31,789	$ 3,401
BARDA [Member]
Disclosure of contingent liabilities [line items]
Contract amount for development and manufacturing of Nexobrid						159,000
Revenues from sale or license					$ 17,500
Accumulated funding				$ 202,000		63,183
Research and development						31,955
Revenues from development services						24,613
Revenues from sales						596
Revenues from sale of procurement						6,036
Revenues net						3,825
BARDA [Member] \| For development costs of NexoBrid [Member]
Disclosure of contingent liabilities [line items]
Accumulated funding						$ 82,000
NexoBrid [Member]
Disclosure of contingent liabilities [line items]
Funding amount				12,000
Procurement amount		$ 5,500	$ 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

EQUITY (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
EQUITY (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [abstract]
Authorized number of shares increased		12,755,492
Nominal value of shares		$ 40
Additional ordinary shares issued upon vesting of outstanding RSU's	33,958	23,956

EQUITY (Schedule of Share Capital) (Details) - shares	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [abstract]
Authorized number of shares	50,000,000	50,000,000
Issued and outstanding number of shares	27,236,752	27,202,795

SHARE-BASED COMPENSATION (Narrative) (Details) $ / shares in Units, $ in Thousands		1 Months Ended					12 Months Ended		48 Months Ended
	Jun. 06, 2019 USD ($) shares $ / shares	Apr. 23, 2020 USD ($) shares $ / shares	Mar. 24, 2019 USD ($) shares $ / shares	Jun. 27, 2018 shares	Feb. 22, 2018 USD ($) shares	Mar. 31, 2014	Dec. 31, 2020 USD ($) shares $ / shares	Dec. 31, 2018 USD ($) shares $ / shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 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 \| $							$ 1,819	$ 1,824	$ 1,819	$ 441
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							3,672,399		3,672,399
Shares available for future grant							316,621		316,621
Employees and directors [Member] \| Restricted Shares Unit [Member] \| 2014 Equity Incentive Plan (the "2014 Plan") [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercisable period						5-10 years
Vesting period						3-4 years
CEO [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of options granted \| $					$ 98		$ 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
Directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted								625,000
Options granted, exercise price \| $ / shares								$ 5.15
Directors [Member] \| 2014 Share Incentive Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted		1,274,379
Options granted, exercise price \| $ / shares		$ 1.75
Fair value of options \| $		$ 1,819
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

SHARE-BASED COMPENSATION (Schedule of Expense Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 1,322	$ 1,234	$ 645
Cost of Revenues [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	115	226	71
Research and development [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	179	375	181
Selling and marketing [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	3	40	63
General and administrative [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total share-based compensation	$ 1,025	$ 593	$ 330

SHARE-BASED COMPENSATION (Schedule of Share Options Activity) (Details)	12 Months Ended
	Dec. 31, 2020 shares $ / shares	Dec. 31, 2019 shares $ / shares	Dec. 31, 2018 shares $ / shares
Number of Options
Outstanding Options at beginning of year	2,334,432	2,313,249	1,934,735
Option's Granted	1,274,379	95,000	665,000
Option's Exercised			(208,332)
Option's Forfeited and/or expired	(11,000)	(73,817)	(78,154)
Outstanding options and at end of year	3,597,811	2,334,432	2,313,249
Option's Exercisable at end of year	1,952,014	1,753,803	1,475,451
Weighted Average Exercise Price
Outstanding Options at beginning of year \| $ / shares	$ 9.18	$ 9.31	$ 10.02
Option's Granted \| $ / shares	1.43	4.45	5.12
Option's Exercised \| $ / shares			2.63
Option's Forfeited and/or expired \| $ / shares	7.19	5.17	9.06
Outstanding options and at end of year \| $ / shares	6.55	9.18	9.31
Option's Exercisable at end of year \| $ / shares	$ 9.98	$ 4.76	$ 11.23
Restricted Shares Unit [Member]
Number of Options
Outstanding Options at beginning of year	108,544	95,833
Option's Granted		36,667	95,833
Option's Forfeited and/or expired
Option's Vested	(33,958)	(23,956)
Outstanding options and at end of year	74,587	108,544	95,833

SHARE-BASED COMPENSATION (Schedule of Information About Share Options Outstanding) (Details)	12 Months Ended
	Dec. 31, 2020 shares $ / shares	Dec. 31, 2019 shares $ / shares	Dec. 31, 2018 shares $ / shares	Dec. 31, 2017 shares $ / shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	3,597,811	2,334,432	2,313,249	1,934,735
Weighted Average Remaining contractual life	5 years 2 months 12 days
Weighted average exercise price \| $ / shares	$ 6.55	$ 9.18	$ 9.31	$ 10.02
1.75 - 5.15 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	1,988,129
Weighted Average Remaining contractual life	6 years 8 months 2 days
Weighted average exercise price \| $ / shares	$ 2.93
6.72 - 9.82 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options \| shares	790,782
Weighted Average Remaining contractual life	3 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	2 years 11 months 1 day
Weighted average exercise price \| $ / shares	$ 12.94

SHARE-BASED COMPENSATION (Schedule of Estimated Using Acceptable Option Pricing Models) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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 (%)
Early exercise factor (%)		150.00%
Weighted average share prices (Dollar)	$ 2.43	$ 4.83	$ 4.07
Bottom of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility of the share prices (%)	51.00%	41.00%	44.00%
Risk-free interest rate (%)	0.20%	1.85%	1.63%
Early exercise factor (%)	100.00%		100.00%
Top of range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility of the share prices (%)	71.00%	53.00%	54.00%
Risk-free interest rate (%)	0.90%	2.45%	2.69%
Early exercise factor (%)	150.00%		150.00%

TAXES ON INCOME (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
TAXES ON INCOME (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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		$ 130,000
Other temporary differences mainly from R&D expenses		130,000
Deferred tax assets not recognized		$ 6,700
Israel [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		23.00%	23.00%	23.00%
Germany [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income tax rate		29.79%	29.79%	29.79%

DISCONTINUED OPERATION (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
DISCONTINUED OPERATION (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about business combination [line items]
Profit (loss) from discontinued operation			$ 80	$ 2,889	$ 4,608
2010 PolyHeal Agreement [Member]
Disclosure of detailed information about business combination [line items]
Provision for other payable on discountinue operations				$ 275
License for Polyheal Products [Member]
Disclosure of detailed information about business combination [line items]
Consideration paid		$ 1,497
Purchase price for residual number of shares		$ 6,003
New PolyHeal Settlement Agreements [Member]
Disclosure of detailed information about business combination [line items]
Consideration paid	$ 2,800
Profit (loss) from discontinued operation	$ 2,889
Shares received of Polyheal	14,473
PolyHeal Settlement Agreements [Member]
Disclosure of detailed information about business combination [line items]
Consideration paid			$ 195
Shares received of Polyheal			1,558

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
One-time expenses		$ 1,172	$ 751
Revenues from distribution agreements		$ 218	$ 176
BARDA [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Percentage of revenues	83.00%	34.00%	0.00%
Vericel [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Percentage of revenues	0.00%	55.00%	0.00%
Other Customers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Percentage of revenues	10.00%	10.00%

SUPPLEMENTARY INFORMATION TO THE STATEMENTS OF COMPREHENSIVE PROFIT OR LOST (Schedule of Geographical Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 21,763	$ 31,789	$ 3,401
USA [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	18,030	28,504
EU and other international markets [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 3,733	$ 3,285	$ 3,401