Perhaps there is but it depends on the extent of the damage.
You need to 'clean out' the damaged wood and let it dry. Then buy some Epoxy Penetrating Sealer. You may have to 'cut out' some 'good wood' to get the job done. Read the directions to be sure you have everything you need for the job. This stuff hardens REALLY well so try to get it to 'lay' as flush as you can with the surrounding 'edges'. You may need a power sander if manual sanding goes too slowly. Then PRIME and paint.
I've read that automotive body filler works too but I've never tried it. My best to ya and hope this helps.