EQS-News: Marinomed Biotech AG / Key word(s): Disposal/Strategic Company Decision
Marinomed Biotech AG: Successful completion of the sale of the Carragelose business to Unither Pharmaceuticals
28.02.2025 / 10:20 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Marinomed Biotech AG: Successful completion of the sale of the Carragelose business to Unither Pharmaceuticals
• All requirements for closing the deal, including shareholders’ approval and ending of the restructuring proceedings, have been met
• Closing is associated with an upfront payment of EUR 5 million
• Additionally, Marinomed and Unither entered into a transition service agreement
Korneuburg, Austria, 28. February 2025 – Marinomed Biotech AG (VSE:MARI) announces the successful closing of the sale of the Carragelose business to French CDMO
(contract development and manufacturing organization) Unither Pharmaceuticals. All necessary conditions for completing the transaction have been met: On December
19^th, 2024, Marinomed shareholders gave their approval in an extraordinary general meeting. On January 14^th, 2025, restructuring proceedings formally ended.
Lastly, the transaction has been approved after Foreign Direct Investments (FDI) screening.
The contract provides for upfront and milestone payments in total of up to EUR 20 million, including an upfront payment of up to EUR 5 million associated with
closing of the deal. Further payments depend on the achievement of defined commercial and operational targets over the next two years. The agreement provides for
the transfer of the entire Carragelose portfolio, including all associated agreements and business relations. As part of the agreement, Marinomed and Unither also
entered into a transition service agreement covering services in the areas of regulatory affairs, business development or research & development.
“The sale of the Carragelose business to Unither Pharmaceuticals is an important milestone. The proceeds generated from this deal, including the initial payment of
EUR 5 million, fuel the development of our Marinosolv assets as well as the fulfillment of the restructuring plan over the next two years”, Andreas Grassauer, CEO
of Marinomed, mentions. “We are delighted to work together with Unither to further evolve the Carragelose portfolio. Besides that, our focus remains on
commercializing our Marinosolv assets Budesolv and Tacrosolv as well as growing our Solv4U business unit.”
“Acquiring the Carragelose product portfolio is a natural extension of our role as a global CDMO”, Eric Goupil, CEO of Unither Pharmaceuticals, comments. “This
strategic investment not only strengthens our commitment to advancing innovative healthcare solutions but also unlocks new opportunities in respiratory health,
allergy, and ophthalmology. By integrating Carragelose into our offering, we aim to deliver meaningful solutions that benefit both patients and our customers.”
About Unither Pharmaceuticals
Unither Pharmaceuticals is a pharmaceutical subcontractor specializing in the development and manufacturing of single-dose and multidose liquid formulations
(including eye drops, saline solutions, asthma medications in BFS single doses, and oral liquid stick-packs) for originator pharmaceutical companies and generic
manufacturers. With 2,200 employees and eight manufacturing plants across France, the United States, Brazil and China, as well as an R&D center in France, Unither
Pharmaceuticals reported sales of EUR 475 million in 2023. (1)https://www.unither-pharma.com/
About Carragelose®
Carragelose® is a sulfated polymer from red seaweed and a unique, broadly active virus- and allergen-blocking compound. It is known as a gentle, effective, and
safe prevention and treatment of various viral respiratory infections. Several clinical and preclinical studies have shown that Carragelose® forms a protective
layer on the mucosa that prevents viruses from infecting cells. Laboratory and clinical data have demonstrated that Carragelose® can also inhibit the spreading of
SARS-CoV-2.(2)^(1)^,(3)(2) Carragelose® products have been outlicensed for marketing in Europe, North America, Australia, and parts of Asia and Latin America. The
portfolio of Carragelose®-containing nasal sprays and oral products can be accessed at (4)https://www.carragelose.com/en/portfolio/launched-products, scientific
publications on Carragelose® at (5)https://www.carragelose.com/en/publications.
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: (6)https://www.marinomed.com.
For further inquiries contact:
Marinomed Biotech AG
PR & IR: Lucia Ziegler
T: +43 2262 90300 158
E-Mail: (7)pr@marinomed.com
E-Mail: (8)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.
(9)^(1) (10)https://www.dovepress.com/efficacy-of-a-nasal-spray-containing-iota-carrageenan-in-the-postexpos-peer-reviewed-fulltext-article-IJGM
(11)^(2)
(12)https://www.marinomed.com/en/news/marinomed-biotech-ag-shares-positive-clinical-trial-results-for-iota-carrageenan-nasal-spray-in-the-prevention-of-covid-19-1
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28.02.2025 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: 2093431
End of News EQS News Service
2093431 28.02.2025 CET/CEST
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