Marinomed Biotech AG secures licensure with leading Consumer Health Care player for the distribution of Carragelose® products in Europe

EQS-News: Marinomed Biotech AG / Key word(s): Contract
Marinomed Biotech AG secures licensure with leading Consumer Health Care player for the distribution of Carragelose® products in Europe
14.06.2024 / 07:45 CET/CEST
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Marinomed Biotech AG secures licensure with leading Consumer Health Care player for the distribution of Carragelose® products in Europe

• Marinomed signs an additional licensing agreement with an existing partner for the distribution and marketing of Carragelose® products in Europe and selected other countries
• Marinomed eligible to receive milestone payments

Korneuburg, Austria, 14 June 2024 – Marinomed Biotech AG (VSE:MARI) expands its license regarding the distribution of Marinomed’s Carragelose products with an existing partner and leading Consumer Health Care market player. The agreement provides for the marketing and distribution of Carragelose products in several EU-countries and some non-EU countries pending any required regulatory approvals. Under the terms of the agreement and depending on the achievement of specified regulatory and commercial targets, Marinomed is eligible to receive milestone payments.

“Broadening our license with a leading Consumer Health Company is a huge success and validation of our Carragelose product line”, Andreas Grassauer, CEO of Marinomed, comments. “Expanding to additional countries is another significant step for our business, and we are looking forward to realizing the full potential of our products.”

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

14.06.2024 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com