PolyHeal Signs Memorandum Of Understanding With European Pharma Co.

September 29, 2014 | PolyHeal, a company producing treatments for slow healing and chronic wounds, signed a non-binding memorandum of understanding with a European pharmaceuticals company. According to the memorandum, PolyHeal will give the European company a global, exclusive license on its products. Forty one percent of PolyHeal is owned by Clal Biotechnology Industries, with the latter company warning that no binding agreement has been signed. In exchange for the license to PolyHeal’s product, the European company will finance the continued development of PolyHeal2, up until the product obtains CE approval. PolyHeal asserts that its technology aids the body in restarting the natural healing process in the case of hard to heal wounds.