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Venous Leg Ulcers: one US-listed biotech with a clinical-stage programme

Cardiovascular & MetabolicUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$170Muniverse median $1.20B
Allocated capital$170M$170M competing
Phase 3 or filed10 mid, 0 early
Pure plays1this indication only
Capital rank263/299crowding rank 265

Venous Leg Ulcers is uncontested. MediWound (MDWD) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with EscharEx in phase 3.

There is no public comparable to price it against, and MDWD runs clinical programmes in this indication and nothing else, so its $170M market cap is a direct read on what the market thinks this programme is worth.

The one programme here is in late-stage development, but it carries no dated catalyst in the next 12 months.

$170M of allocated capital sits in Venous Leg Ulcers, ranking it 263rd of 299 indications by the money committed to it.

Companies developing drugs for Venous Leg Ulcers 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
MDWDMediWoundEscharExPhase 33$170MYes1No dated event

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Venous Leg Ulcers counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Venous Leg Ulcers has one competitor and a median of $170M.

Cardiovascular & Metabolic

Cardiovascular & Metabolic holds $89.7B of the map's capital, 13.4% of the total, spread across 29 indications and 44 companies. 9 of those indications have more than one company competing.

See every Cardiovascular & Metabolic indication on the map

Related indications in Cardiovascular & Metabolic

Anemia Associated With Chronic Kidney Disease1 company · $180M · median $1.6BUncontestedArrhythmogenic Right Ventricular Cardiomyopathy2 companies · $210M · median $277MOrphan cornerGout1 company · $211M · median $211MUncontestedEnd Stage Renal Disease1 company · $83M · median $166MUncontestedCoronary Artery Disease1 company · $83M · median $166MUncontestedGestational Diabetes1 company · $424M · median $1.3BUncontestedChronic Idiopathic Constipation1 company · $462M · median $924MUncontestedLong Chain Fatty Acid Oxidation Disorders1 company · $488M · median $1.5BUncontested

Venous Leg Ulcers pipeline questions

Which biotech companies are developing drugs for Venous Leg Ulcers?

MediWound (MDWD, EscharEx, Phase 3). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Venous Leg Ulcers.

How advanced is the Venous Leg Ulcers pipeline?

Of the 1 clinical-stage programme in Venous Leg Ulcers, 1 is in Phase 3 or filed, 0 are in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Venous Leg Ulcers?

No. MDWD is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Venous Leg Ulcers, which is why the indication is classified as uncontested.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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