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Marinomed Biotech AG. (2/15/22). "Press Release: Marinomed Receives €6m with Final Tranche of Financing Agreement with EIB to Invest in Proprietary R&D Pipeline". Korneuburg.

Region Region EU (European Union)
Organisations Organisation Marinomed Biotech AG (VSE: MARI)
  Organisation 2 European Investment Bank (EIB)
  Group EU (govt)
Products Product Marinosolv® technology platform
  Product 2 business development (state/region)
Index term Index term Marinomed–EU (govt): credit, 20901–2027 up to €15m EIB credit 2019–2022 repayable 2024–2027
Persons Person Schmidt, Pascal (Marinomed 201808– CFO before Raymond James Financial + Mummert & Co + Infineon Ventures)
  Person 2 Keller, Brigitte (MC Services 201707 Senior Consultant)
     


> € 15 m European Investment Bank (EIB) financing fully drawn

> All research & development (R&D) and sales milestones successfully achieved


Marinomed Biotech AG (VSE:MARI), an Austrian science-based biotech company with globally marketed therapeutics derived from innovative proprietary technology platforms, today announced it has received the final tranche of its financing agreement with the European Investment Bank (EIB). The agreement originally was signed in February 2019 for a total of € 15 m.

“With the EIB financing, we have been able to foster our growth and make important progress in both segments, Carragelose and Marinosolv. We are proud to have achieved all development and revenue milestones defined in the original agreement three years ago,” Pascal Schmidt, CFO of Marinomed, said. “These last proceeds of € 6 m secure the further development of therapeutics generated with our Marinosolv technology, which will be one of the key value drivers for our long-term growth.”

The loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the core of the Juncker Investment Plan for Europe, under which the EIB and the European Commission work together as strategic partners. The investment plan’s mission is to boost the competitiveness of the European economy and help promising small and midsize companies to grow.


About Marinomed Biotech AG

Marinomed Biotech AG is an Austrian science-based biotech company with globally marketed therapeutics. Marinomed focuses on the development of innovative products based on two patent-protected technology platforms. The Marinosolv® technology increases the solubility and bioavailability of compounds that are hardly soluble in aqueous formulations. Under the brand Solv4U, Marinomed provides formulation development based on the Marinosolv® technology for external partners. The Carragelose® platform comprises innovative patent-protected products targeting viral infections of the respiratory tract and may also reduce the risk of an infection with SARS-CoV-2. Carragelose® is used as a virus blocker in nasal sprays, throat sprays, and lozenges, which are sold via international partners in over 40 countries. Marinomed, Marinosolv® and Carragelose® are registered trademarks of Marinomed Biotech AG. These trademarks may be owned or licensed in select locations only. The company is based in Korneuburg, Austria, and listed on the Prime Market of the Vienna Stock Exchange (VSE:MARI). Further information is available at https://www.marinomed.com.


For further inquiries contact:

Marinomed Biotech AG

PR: Lucia Mayr-Harting
T +43 2262 90300 158
Email: pr@marinomed.com

IR: Stephanie Kniep
T +43 2262 90300 226
Email: ir@marinomed.com

International Media Contact

MC Services AG
Dr. Brigitte Keller, Dr. Regina Lutz
T +49 89 210228 0
UK: Shaun Brown
M: +44 7867 515 918
Email: marinomed@mc-services.eu

EIB

Donata Riedel
Email: d.riedel@eib.org
T +49 30 590047 90
M +49 151 1465 9021
Press Office: +35 2 4379 21000
Email: press@eib.org
Website: www.eib.org/press


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.

   
Record changed: 2022-05-17

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