MediWound and the EIC Accelerator: The €16M Offer That Shrank

MediWound, a company based in Yavne, Israel, listed on Nasdaq and led by chief executive Ofer Gonen, sells NexoBrid, an FDA-approved enzyme treatment that removes dead tissue from severe burns, and is developing EscharEx, a bromelain-based gel to do the same for chronic wounds. Its EIC Accelerator project, ESXDFU, "Revolutionizing DFU treatment: EscharEx - a game-changing solution", receives an EU contribution of €2,499,999 and runs from December 2024 to November 2026, according to CORDIS. It is to generate the protocol, regulatory agreement and dossier needed to test EscharEx in diabetic foot ulcers, which affect 25% of Europe's 60 million people with diabetes, the report says.

In July 2024 MediWound announced "€16.25 million in blended funding" from the EIC, a €2.5 million grant "and an investment, with terms to be finalized", saying it would bring the DFU programme four years forward, according to GlobeNewswire. Its annual report filed in March 2026 states that discussions on "a potential additional €13.75 million equity investment component" took place, "however, these discussions did not result in an equity investment", according to the 20-F filing.

Where MediWound Stands Now

MediWound's main EscharEx effort is VALUE, a 216-patient Phase III trial in venous leg ulcers at about 40 sites; in September 2026 its safety board recommended continuing without changes, with enrolment completion expected by the end of the first quarter of 2027, according to MediWound. The company says further studies are "planned" in diabetic foot and pressure ulcers. No EscharEx diabetic foot ulcer study is listed on ClinicalTrials.gov or the EU register, where MediWound's two entries are both leg ulcer studies. Revenue fell to $17.0 million in 2025, with a net loss of $23.9 million, according to its SEC filings.

The Technology: Enzymes Instead of Scalpels

Dead tissue must be removed before a chronic wound can heal, and sharp surgical debridement, the standard of care, needs trained specialists, the EIC report says. EscharEx is applied once a day and uses bromelain-based enzymes to remove non-viable tissue while promoting granulation tissue, the company says. MediWound says it outperformed SANTYL, the leading enzymatic product with annual sales above $400 million, in its own data presented at 2026 conferences.

What the EIC Award Promised, and What the Record Shows

The project runs to November 2026, so it is too early to judge it. The report says 14 of 18 deliverables are complete: the randomised, placebo-controlled Phase 2 protocol was finalised and reviewed by the FDA and EMA, clinical batches were made, and the medicinal product dossier was due for submission in mid-2026, according to CORDIS. European site start-up "is expected by November 2026, enabling trial initiation", the month the project ends.

1. Phase 2 DFU protocolFinalisedFDA, EMA reviewed.
2. Clinical batchesMadeProject report.
3. Trial authorisationNot publicNot in CTIS.
4. EIC equityFell through20-F, 2026.

The Money

The EIC grant is small next to MediWound's losses of $23.9 million in 2025. The company held $45 million in cash and deposits at the end of March 2026, including $1.2 million received under the EIC grant, according to its first-quarter results. The €16.25 million headline of 2024, which included an investment "with terms to be finalized", became a €2.5 million grant.

What Cannot Be Checked

Why Europe Should Care

Diabetic foot ulcers lead to infections, hospitalisations and amputations, and a non-surgical debridement agent usable outside hospitals would ease the load on specialists. The EIC funded a Nasdaq-listed Israeli company's work on an indication that, two years on, remains behind its leg ulcer programme.

The Verdict

MediWound and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.