Israeli burn and wound management biopharmaceutical company MediWound Ltd. (Nasdaq: MDWD) today announced it has signed a distribution agreement with UAE-based international conglomerate Ghassan Aboud Group (GAG) for NexoBrid for the treatment of severe burns. Under the terms of the agreement, GAG will have exclusive rights to market and distribute NexoBrid in the UAE. Commercialization of NexoBrid in the UAE will commence upon securing regulatory approval, which is expected within a year.
MediWound CEO Sharon Malka said, "This partnership is an important consequence of the Abraham Accords Peace Agreement signed recently between Israel and the UAE. GAG, through its healthcare arm, Gaelan Medical Trade LLC, has extensive knowledge and experience in wound care and has a strong reach into the major clinical institutions in the UAE."
He added, We are proud to enter into our first partnership in the Middle East, and believe that, together with GAG, we will be able to open up new opportunities for NexoBrid across the region, providing burn specialists with a new paradigm for the treatment of severe burns, which can improve patients' lives and the quality of their care."
Ghassan Aboud Group chairman Ghassan Aboud said, "We are pleased to partner with MediWound to bring NexoBrid to our markets in the UAE. Our goal is always to pioneer, excel and make an impact, which we have been doing so for 26 years now. I am certain that with our extensive distribution network and market reach, and with MediWound's innovative drug we will be able to improve the standard of care of burn patients and I strongly believe NexoBrid will be an instrumental part of the future treatment for burn patients everywhere."
Published by Globes, Israel business news - en.globes.co.il - on December 15, 2020
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