If the wound looks recent and clean, the venison should be fine. If the wound is infected, check the liver, spleen and kidneys closely for evidence of secondary infections. Those organs act as blood filters, and if they appear abnormal (spotted, bruised, or containing abscesses) the infection has caused septicemia and I would not eat the venison. If the infection is localized to the wound itself, trim out the bad meat, and you should be ok.
These are the same criteria used in packing houses to determine whether or not a carcass is safe for human consumption.