EQS-News: Marinomed Biotech AG / Key word(s): Miscellaneous
Marinomed focuses on growth after successful restructuring
27.03.2025 / 07:45 CET/CEST
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Marinomed focuses on growth after successful restructuring
• Marinomed plans to achieve an operating profit in 2025
• Budesolv: innovation for the treatment of allergic rhinitis
• Switzerland as a stepping stone for global expansion
Korneuburg, Austria, 27. March 2025 – Marinomed Biotech AG (VSE:MARI) has
realigned its finances after a successful restructuring and is optimistic
about the future. After receiving a first payment of EUR 5 million,
further financial stability should be ensured by the milestone payments
and the ongoing transition service agreement following the sale of the
Carragelose business to Unither Pharmaceuticals. This allows Marinomed to
focus operationally on the Marinosolv technology, which is used to enhance
the solubility of hydrophobic compounds. This increases their
bioavailability and enables a faster onset of action.
The current focus is on Budesolv, an innovative nasal corticosteroid for
the treatment of severe allergic rhinitis (hay fever). Thanks to the
Marinosolv technology, the required dose of commercially available active
pharmaceutical ingredients can be reduced by around 85%, while Budesolv
takes effect after just a few hours – in contrast to current active
pharmaceutical ingredients, which take several days to reach full effect.
In addition, Budesolv does not contain any harmful preservatives. The
global market for allergic rhinitis has a volume of around USD 13 billion.
The management has a clear strategy for marketing. In order to accelerate
negotiations with potential pharmaceutical partners around the world,
Budesolv shall be initially approved in a smaller market. Switzerland
shall be the first step because the discussions and negotiations with
potential partners and the Swiss regulatory authority Swissmedic are most
advanced there. At the same time, the corresponding manufacturing capacity
will be established to obtain approval in Switzerland as quickly as
possible together with a potential partner. At the same time, discussions
are being held regarding marketing in larger markets. In the medium term,
the management aims to achieve a significant market share in the global
rhinitis segment.
A solid financial basis is the foundation for the next operational
successes. Following the completion of the restructuring process and the
sale of the Carragelose business, Marinomed is on the right track.
According to preliminary calculations, the 2024 financial statements will
close with a significant loss of around EUR 15 million due to the
insolvency. After the legal completion of the restructuring proceedings,
Marinomed will report a profit of around EUR 18.9 million in the first
quarter of 2025 as a result of the restructuring alone. In addition, a
first partial payment of EUR 5 million from the sale of the Carragelose
business has already been received, so that the Company currently has
sufficient liquid funds.
“By focussing on our business, the successful restructuring and the
associated reduction in expenses, we plan to achieve positive operating
results from this year onwards. The aim now is to regain the confidence of
our shareholders through operational success,” explains Andreas Grassauer,
founder and CEO of Marinomed Biotech AG.
About Marinomed Biotech AG
Marinomed Biotech AG is an Austrian, science-based biotech company with a
growing development pipeline. The Company develops innovative
patent-protected products based on the Marinosolv® platform. The
Marinosolv® technology improves the solubility and bioavailability of
hardly soluble compounds and is used to develop new therapeutics for
autoreactive immune disorders. 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:
PR: Lucia Ziegler IR: Tobias Meister
Marinomed Biotech AG Meister Consulting GmbH
T: +43 2262 90300 158 T: +43 2262 90300
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 and Marinosolv® are registered trademarks of
Marinomed Biotech AG. These trademarks may be owned or licensed in select
locations only.
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27.03.2025 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: 2106870
End of News EQS News Service
2106870 27.03.2025 CET/CEST
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