Marinomed Biotech AG signs agreement for sale of Carragelose business to French Unither Pharmaceuticals

EQS-Ad-hoc: Marinomed Biotech AG / Key word(s): Disposal/Strategic Company
   Decision
   Marinomed Biotech AG signs agreement for sale of Carragelose business to
   French Unither Pharmaceuticals

   26-Nov-2024 / 21:14 CET/CEST
   Disclosure of an inside information acc. to Article 17 MAR of the
   Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
   Group AG.
   The issuer is solely responsible for the content of this announcement.

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   Korneuburg, Austria, November 26, 2024 - Marinomed Biotech AG (the
   “Company”) announces the signing of an agreement for the sale of its
   Carragelose business to French Unither Pharmaceuticals (“Unither”), a
   leading contract development and manufacturing organization (CDMO) of
   medical devices and pharmaceutical products. The contract provides for
   upfront and milestone payments of total up to EUR 20 million, depending on
   the achievement of defined commercial and operational targets, over the
   next two years. As part of the agreement, Marinomed and Unither intend to
   enter into a transition service agreement at completion of such
   transaction. The proceeds from the sale of the Carragelose business are
   planned to finance both the operating business, with increased focus on
   the Marinosolv platform, and the restructuring plan agreed upon with the
   Company's creditors on November 14, 2024. The closing of the contract is
   inter alia subject to the successful completion of the restructuring
   proceedings, the approval by the Company's Supervisory Board and
   shareholders at an extraordinary general meeting. 

   +++ End of ad-hoc announcement +++
    

   End of Inside Information

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   26-Nov-2024 CET/CEST News transmitted by EQS Group AG. 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: 2038823


    
   End of Announcement EQS News Service


   2038823  26-Nov-2024 CET/CEST