Clal Biotechnology, which invests in life sciences companies, today reports a $ 1.7 million research grant received by the portfolio company Medivend (35%) from the US Department of Defense for NexoBrid development.®As a non-surgical solution for the treatment of severe burns in the field, intended for the US military. In the opinion of the US Department of Defense, this development may change the existing standard of care for burns.
Support from US authorities
In doing so, the U.S. Department of Defense has joined the U.S. Department of Health that already supports the drug NexoBrid and is purchasing it through the U.S. Advanced Biomedical Research and Development Authority (BARDA). Clal Biotechnology reported last week that BARDA has increased the volume of its contracts with Medivand to approximately $ 211 million. Clal Biotechnology stated that the support of key government bodies in the development of Medivand’s solution indicates the importance and vitality of this solution in the effective treatment of burns at the civilian and military levels.