Marinomed Biotech AG / ATMARINOMED6
28.02.2025 - 10:20:55Marinomed Biotech AG: Successful completion of the sale of the Carragelose business to Unither Pharmaceuticals
| Marinomed Biotech AG / Key word(s): Disposal/Strategic Company Decision 28.02.2025 / 10:20 CET/CEST The issuer is solely responsible for the content of this announcement. 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 19th, 2024, Marinomed shareholders gave their approval in an extraordinary general meeting. On January 14th, 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. For further inquiries contact:
28.02.2025 CET/CEST This Corporate News was distributed by EQS Group. www.eqs.com |
| 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 |
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