Independent Study in Germany Shows NexoBrid® Reduces Average Burn Treatment Costs by nearly 30% Versus Standard of Care
June 16 2017 - 8:00AM
MediWound Ltd. (NASDAQ:MDWD), a fully-integrated biopharmaceutical
company specializing in innovative therapies to address unmet needs
in severe burn and wound management, announces the results of an
independent pharmacoeconomic study that, for the first time,
analyzed the impact of NexoBrid® on total treatment costs of burn
patients in Germany compared with standard-of-care (SOC). The
findings were based on treatment costs listed in the pricing system
for German hospitals (G-DRG) and showed a nearly 30% reduction in
the total cost of care, per patient, when treating burn patients
with NexoBrid® compared with SOC.
Results of the study, titled "Enzymatic burn
wound debridement with NexoBrid: Cost simulations and
investigations on cost efficiency," were published in the
peer-reviewed journal Gesundheitsökonomie & Qualitätsmanagement
(Health Economics & Quality Management).
“The findings of this study combined with the
growing body of independent cost-effectiveness data generated in
various European countries, support our efforts to expand
reimbursement coverage in target markets. These analyses, along
with the results of our clinical studies and numerous independent
abstracts at premier burn conferences, underscore NexoBrid's value
proposition as an effective and minimally invasive treatment that
provides a clinical benefit for patients, while reducing costs for
health systems,” said Gal Cohen, Chief Executive Officer of
MediWound.
The independent analyses used two different cost
simulation models: the Average Outcome Model, where total costs of
NexoBrid-based treatments were compared to total costs of SOC to
determine cost saving potentials; and the Defined Patient Model,
where clinical pathways and actual treatment costs were analyzed to
allow economic considerations. In both models, NexoBrid was
found to be the more cost-effective treatment, while also offering
qualitative advantages over SOC.
Additional findings from the analyses
showed:
- Three-fourths of all burn cases in the range of 1% to 15% Total
Body Surface Area (TBSA) could economically benefit from NexoBrid
use;
- Even in more severe cases (15% TBSA burned), the total cost of
NexoBrid-based treatment did not exceed the cost of comparable
SOC;
- Using NexoBrid did not detract from the existing G-DRG
reimbursement for the hospital, which can still be triggered by
several OPS codes;
- NexoBrid served as a strategic tool for hospitals to reduce
procedure and operating room time, thereby freeing up both
physicians and operating room capacity that can be utilized to
generate revenues from reimbursement of additional surgical
cases;
- In addition to the quantitative savings, NexoBrid offers
qualitative advantages that could translate to quality-of-life and
long-term benefits, such as reduced surgical burden on the patient,
reduced risks associated with blood transfusions or reduced donor
site procedural pain and scars.
About MediWound Ltd.
MediWound is a fully integrated
biopharmaceutical company focused on developing, manufacturing and
commercializing novel therapeutics based on its patented
proteolytic enzyme technology to address unmet needs in the fields
of severe burns, chronic and other hard-to-heal wounds, connective
tissue disorders and other indications. MediWound’s first
innovative biopharmaceutical product, NexoBrid®, received marketing
authorization from the European Medicines Agency, as well as the
Israeli and Argentinian Ministries of Health, for the removal of
dead or damaged tissue, known as eschar, in adults with deep
partial- and full-thickness thermal burns and was launched in
Europe, Israel and Argentina. NexoBrid® represents a new
paradigm in burn care management, and clinical trials have
demonstrated, with statistical significance, its ability to
non-surgically and rapidly remove the eschar earlier, relative to
the existing standard of care, without harming viable tissues.
MediWound's second innovative product candidate,
EscharEx®, is a topical biological drug being developed for
debridement of chronic and other hard-to-heal wounds and is
complementary to the large number of existing wound healing
products, which require a clean wound bed in order to heal the
wound. EscharEx® contains the same proteolytic enzyme technology as
NexoBrid®, and benefits from existing development data on
NexoBrid®. In January 2017, MediWound reported final results from
its second Phase 2 study evaluating EscharEx for the debridement of
chronic and other hard-to-heal wounds. In this Phase 2
clinical trial, EscharEx met its primary endpoint demonstrating
higher incidence of complete debridement with statistical
significance.
For more information, please visit
www.mediwound.com.
Cautionary Note Regarding
Forward-Looking StatementsThis release includes
forward-looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933, as amended, Section 21E of the U.S.
Securities Exchange Act of 1934, as amended, and the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements that are not
historical facts, such as statements regarding the potential of
NexoBrid® to be a new paradigm in burn care management, MediWound
ability to leverage existing data for the development of EscharEx®,
and MediWound's expectations for the clinical development of both
NexoBrid® and EscharEx®. In some cases, you can identify
forward-looking statements by terminology such as "believe," "may,"
"estimate," "continue," "anticipate," "intend," "should," "plan,"
"expect," "predict," "potential," or the negative of these terms or
other similar expressions. Forward-looking statements are based on
MediWound's current knowledge and its present beliefs and
expectations regarding possible future events and are subject to
risks, uncertainties and assumptions. Actual results and the timing
of events could differ materially from those anticipated in these
forward-looking statements as a result of several factors. In
particular, you should consider the risks discussed under the
heading "Risk Factors" in MediWound's annual report on Form 20-F
for the year ended December 31, 2016 and information contained in
other documents filed with the U.S. Securities and Exchange
Commission. You should not rely upon forward-looking statements as
predictions of future events. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee that future results, levels of
activity, performance and events and circumstances reflected in the
forward-looking statements will be achieved or will occur. The
forward-looking statements made herein speak only as of the date of
this announcement and MediWound undertakes no obligation to update
publicly such forward-looking statements to reflect subsequent
events or circumstances, except as otherwise required by law.
Contacts: |
|
|
Anne Marie Fields |
Sharon Malka |
|
|
Senior Vice
President |
Chief Financial and
Operations Officer |
|
|
LHA Investor
Relations |
MediWound |
|
|
212-838-3777 |
ir@mediwound.co.il |
|
|
afields@lhai.com |
MediWound (NASDAQ:MDWD)
Historical Stock Chart
From Aug 2024 to Sep 2024
MediWound (NASDAQ:MDWD)
Historical Stock Chart
From Sep 2023 to Sep 2024