Marinomed Biotech AG: Launch of new allergen-blocking Carragelose product in Austria and market entry in Mexico

EQS-News: Marinomed Biotech AG / Key word(s): Market Launch
Marinomed Biotech AG: Launch of new allergen-blocking Carragelose product in Austria and market entry in Mexico
11.04.2024 / 07:45 CET/CEST
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Marinomed Biotech AG: Launch of new allergen-blocking Carragelose product in Austria and market entry in Mexico

• Launch of new allergen-blocking nasal spray in Austria for the treatment of hay fever complements existing OTC product portfolio
• Partner M8 Pharmaceuticals launches Carragelose nasal spray for the treatment of viral respiratory infections in Mexico
• Further value maximization and revenue potential for Carragelose asset

Korneuburg, Austria, 11 April 2024 – Marinomed Biotech AG (VSE:MARI) today announces the expansion of its Carragelose product portfolio with new launches in Austria and Mexico, paving the way for targeting new indications and access to key markets. A new nasal spray formulation for the treatment of the symptoms of hay fever caused by grass pollen allergy has been launched by Marinomed’s Austrian distribution partner Sigmapharm under the brand name COLDAMARIS Allergie. Offering both symptom prevention and relief of allergic symptoms such as dryness in the nasal cavity, runny or blocked nose, itching and sneezing, this market entry perfectly coincides with the peak of this year’s allergy season. The launch of the allergen-blocking nasal spray also represents an important landmark in the expansion of the established Carragelose portfolio from blocking viruses to allergic indications, providing year-round revenue generation beyond the typical cold season.

Furthermore, following the successful market approval of a Carragelose nasal spray in Mexico by its distribution partner M8 Pharmaceuticals (an Acino company) last summer, the product is now available under the brand name Barlo®. Targeting the Mexican market, which is Latin America’s second largest pharmaceutical market, this launch represents a significant revenue potential.

“With the market launch of our first Carragelose product in the Immunology segment and the product launch in Mexico, the second largest pharmaceutical market in Latin America, we have set important milestones in the ongoing expansion of our Carragelose portfolio. We are well on our way to close further geographic gaps in Europe, the Middle East and Latin America with new and existing partners and are now also targeting new indications. This makes us less dependent on the cold season, enables year-round sales and lets us expect new growth opportunities”, Andreas Grassauer, CEO of Marinomed, comments. “In addition to these developments, the launch of the Carragelose-containing eye drops and the filing for approval with Procter & Gamble in the U.S. are making good progress as well.”

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.^[1],[2] Marinomed is the holder of the IP rights and has licensed Carragelose® for marketing in Europe, North America, Australia, and parts of Asia and Latin America. Marinomed’s portfolio of Carragelose®-containing nasal sprays and oral products can be accessed at https://www.carragelose.com/en/portfolio/launched-products, scientific publications on Carragelose® at 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 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 prime market of the Vienna Stock Exchange (VSE:MARI). For further information, please visit: https://www.marinomed.com.

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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.

^[1]  https://www.dovepress.com/efficacy-of-a-nasal-spray-containing-iota-carrageenan-in-the-postexpos-peer-reviewed-fulltext-article-IJGM

^[2]  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

11.04.2024 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com