EQS-News: Marinomed Biotech AG / Key word(s): Insolvency/Restructure of
Company
Marinomed Biotech AG: Restructuring proceedings successfully completed
20.01.2025 / 07:45 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Marinomed Biotech AG: Restructuring proceedings successfully completed
• Restructuring proceedings formally ended by resolution of the
Korneuburg regional court after meeting all necessary conditions,
including unanimous approval of the restructuring plan
• Management Board takes over administration of Company from insolvency
administrator
• Restructuring plan to be fulfilled within the next two years;
necessary funds to be obtained from sale of Carragelose business and
commercialization of Marinosolv asset
Korneuburg, Austria, 20. January 2025 – Marinomed Biotech AG (VSE:MARI)
announces that the restructuring proceedings without self-administration
opened on August 14^th, 2024, have been formally completed by resolution
of the Korneuburg regional court on January 14^th, 2025. In December, the
Company met all necessary prerequisites, including depositing the funds
required for payment of the cash quota and the costs of the proceedings.
With the formal end of the proceedings, administration by the insolvency
administrator has also ended and the Management Board has regained control
over the Company.
Prior to this, unanimous approval of the restructuring plan was obtained
from the creditors, in particular the European Investment Bank. The plan
provides for a quota of 30%, payable within the next two years. Key
element of fulfilling the plan is the sale of the Carragelose business to
Unither Pharmaceuticals. Shareholders’ approval, which is one major
closing condition for this deal, has been obtained in an extraordinary
general meeting on December 19^th, 2024.
“We are relieved that we were able to successfully complete the
restructuring process. With the sale of the Carragelose business, we are
well positioned to fulfill the restructuring plan. At the same time, our
top priorities are now to develop a new strategy and to push ahead with
the commercialization of our Marinosolv and Solv4U assets”, Andreas
Grassauer, CEO of Marinomed, adds.
About Marinomed Biotech AG
Marinomed Biotech AG is an Austrian, science-based biotech company with a
growing development pipeline and globally marketed therapeutics. The
Company develops innovative patent-protected products in the therapeutic
areas immunology and virology based on the platform Marinosolv® and the
virus-blocking activity of Carragelose®. The Marinosolv® technology
improves the solubility and bioavailability of hardly soluble compounds
and is used to develop new therapeutics for autoreactive immune disorders.
The virology segment includes Carragelose®-based over-the-counter (OTC)
products to prevent and treat respiratory viral infections that are
partnered in more than 40 countries. The Company is headquartered in
Korneuburg, Austria, and is listed on the Vienna Stock Exchange
(VSE:MARI). For further information, please visit:
(1)https://www.marinomed.com.
For further inquiries contact:
Marinomed Biotech AG
PR & IR: Lucia Ziegler
T: +43 2262 90300 158
E-Mail: (2)pr@marinomed.com
E-Mail: (3)ir@marinomed.com
Disclaimer
This press release contains forward-looking statements, which are based on
current views, expectations and projections of the management of Marinomed
Biotech AG about future events. These forward-looking statements are
subject to risks, uncertainties and assumptions that could cause actual
results, performance or events to differ materially from those described
in, or expressed or implied by, such statements. The current views,
expectations and projections of the management of Marinomed Biotech AG may
be identified by the context of such statements or words such as
“anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project”
and “target”. Forward-looking statements are only valid as of the date
they are made and Marinomed Biotech AG does not assume any obligation to
update, review or revise any forward-looking statements contained in this
press release whether as a result of new information, future developments
or otherwise. Marinomed, Marinosolv® and Carragelose® are registered
trademarks of Marinomed Biotech AG. These trademarks may be owned or
licensed in select locations only.
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20.01.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: Marinomed Biotech AG
Hovengasse 25
2100 Korneuburg
Austria
Phone: +43 2262 90300
E-mail: office@marinomed.com
Internet: www.marinomed.com
ISIN: ATMARINOMED6
WKN: A2N9MM
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange
(Official Market)
EQS News ID: 2070167
End of News EQS News Service
2070167 20.01.2025 CET/CEST
References
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2. mailto:pr@marinomed.com
3. mailto:ir@marinomed.com
