Vienna, October 6th, 2015 – Marinomed Biotechnologie GmbH will boost the successful expansion of its business activities with new investments. The Austrian investment fund „aws Mittelstandsfonds“ is acquiring a share in the company and is providing significant financial means. The fund management was impressed with the successful international market entry of Marinomed’s treatments for cold and influenza-like diseases. By further investing, the global roll-out of these products will be accelerated. At the same time, the company will use the investment to intensify the development of further products for viral infections of the respiratory system based on the proprietary MAVIREX© technology platform.
The Vienna-based biotech company Marinomed Biotechnologie GmbH announced today that the Austrian investment fund „aws Mittelstandsfonds“ acquired a share in the company. The success of the biotech company is especially based on its proprietary MAVIREX© technology platform.
For Dr. Andreas Grassauer, CEO and co-founder of Marinomed, the interest of the renowned „aws Mittelstandsfonds“ confirms the success of the company: „Nasal sprays developed by Marinomed have been approved in 48 countries and these OTC products are well in demand. Our forthcoming investment will accelerate this global market entry. Simultaneously we will continue our focused development of innovative products and thus fill our pipeline even further.“
The international success of the company is based on the patented MAVIREX© technology platform. This contributed to the development of Carragelose®, a red algae derived polymer with exceptionally strong effects against respiratory viral infections. Carragelose® works by coating viruses, thereby preventing them from attaching to and penetrating the cells of the mucous membranes. In addition, the properties of the polymer provide a soothing and protective film of moisture on the mucous membranes. Currently, Marinomed is exploiting the potential of Carragelose® with a series of nasal sprays and lozenges that act against respiratory viruses. The efficacy of Carragelose® was convincingly demonstrated in several clinical trials with more than 450 patients.
In due course, the company will extend its Carragelose®-based product range by offering OTC throat sprays that will supplement the already successfully marketed nasal sprays and lozenges. Commenting on the further development of the company’s product pipeline, Dr. Grassauer says: „An important focus of our development activities are combination products that combine several active compounds for the treatment of viral infections. This enhances the efficacy of the therapy and such concepts are well sought after.“ Owing to the investment by the „aws Mittelstandsfonds“, Marinomed will realize these development plans efficiently and quickly. Mag. Karl Lankmayr, CEO of the „aws Mittelstandsfonds“ says: „Marinomed is a well-established company in Vienna that offers a successful product range. As Austria’s leading equity fund we support with our investment both Marinomed’s research and the continuation of the company’s international expansion. In doing so, we also support the growth of Austrian suppliers and thus the entire Austrian biopharmaceutical industry.“