EQS-News: Marinomed Biotech AG: Successful completion of the sale of the Carragelose business to Unither Pharmaceuticals

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. 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.^[1],[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 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. 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: 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 and Marinosolv® 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