Marinomed Biotech AG announces preliminary revenues and confirms outlook for 2020
January 29, 2021
Corporate News

Marinomed Biotech AG (VSE:MARI), a globally operating biopharmaceutical company, announces record preliminary revenues for 2020 and confirms its financial outlook (strong increase in sales; net-loss for the year). The Company closed the year with revenues of € 8.1 m (2019: € 6.1 m), an all-time high and an increase of 33%, a gain of 55% compared to 2019’s revenues adjusted for an extraordinary effect from a licensing contract (2019 adjusted: € 5.2 m). The comparison reflects the effect of the strong demand for the Carragelose®-based antiviral portfolio driven by the SARS-CoV-2 pandemic.

“Of course, the pandemic demands extra effort in time and resources for some of our activities. We are therefore very glad to report a strong increase in 2020 sales from our antiviral product portfolio, resulting in a sustained strong growth. Our development and clinical program for Marinosolv®, plus two ongoing Phase IV clinical trials to further investigate the potential of Carragelose in the prevention and treatment of COVID-19, are well on track,” said Andreas Grassauer, Chief Executive Officer of Marinomed. “We look forward to these clinical results and are very encouraged to also see an increasing number of academic publications from third parties that confirm our previous findings with SARS-CoV-2.[1] This strongly supports our expectations for positive trial outcomes which hopefully confirm that Carragelose could be one of the products that help to overcome the SARS-CoV-2 pandemic.”

 

About Carragelose®:

Carragelose® is a sulfated polymer from red seaweed and a unique, broadly active anti-viral compound. It is known as a gentle yet effective and safe prevention and treatment against respiratory infections. Several clinical and preclinical studies have shown that Carragelose® forms a layer on the mucosa wrapping entering viruses, thereby inactivating them, and preventing them from infecting cells. Increasing preclinical evidence points to the fact that Carragelose® may be able to also inactivate SARS-CoV2. The German Society for Hospital Hygiene (Deutsche Gesellschaft für Krankenhaushygiene e.V., DGKH) recommended the use of Carragelose®-based nasal sprays for the prevention of SARS-CoV-2 infections in the general public.[2] Marinomed is holder of the IP rights and has licensed Carragelose® for marketing in Europe, parts of Asia, Canada, and Australia. For a full list of Marinomed’s portfolio of Carragelose® containing nasal sprays, please visit https://www.carragelose.com/en/ portfolio/launched-products, for a list of scientific publications on Carragelose®, https://www.carragelose.com/en/publications.

 

About Marinosolv®:

Marinosolv® is an innovative technology platform that enables solubilization of many barely soluble compounds and in consequence, opens new possibilities in treating a multitude of diseases. While organic compounds could previously often only be delivered as a suspension, Marinosolv® provides aqueous formulations without preservatives with a faster onset of action and increased local bioavailability. In addition, they can be used without prior shaking, thus improving usability and enabling reliable dosing in sensitive tissues such as eyes or nose. Overall, the use of the Marinosolv® technology can facilitate efficient drug delivery with high local availability and low systemic off-target activity. Even off-patent active ingredients can be patented as part of new formulations developed using Marinosolv®, while keeping production processes cost-efficient. For more information on Marinosolv®, please visit https://www.marinosolv.com/en, and for a list of scientific publications on Marinosolv®, https://www.marinosolv.com/en/publications.

 

About Marinomed Biotech AG

Marinomed Biotech AG (Korneuburg, Austria) is a biopharmaceutical company listed on the Prime Market of the Vienna Stock Exchange. The company focuses on the development of innovative products based on two patent-protected technology platforms. The Marinosolv® technology platform increases the efficacy of hardly soluble compounds for the treatment of sensitive tissues such as eyes, nose, lung or gastrointestinal tract. The Carragelose® platform comprises innovative patent-protected products targeting viral infections of the respiratory tract and can reduce the risk of an infection with SARS-CoV-2. Carragelose® is used in nasal sprays, throat sprays and lozenges, which are sold via international partners in over 40 countries worldwide. Marinomed, Marinosolv® und Carragelose® are registered trademarks of Marinomed AG. These trademarks may be owned or licensed in select locations only. Further information is available at https://www.marinomed.com/en/technologies-markets/markets.

 

[1] For example, Jang Y et al., Sci Rep. 2021 Jan 12;11(1):821. doi: 10.1038/s41598-020-80896-9
[2] https://www.krankenhaushygiene.de/pdfdata/2020_12_02_Empfehlung-viruzides-gurgeln-nasenspray.pdf

 

For further inquiries contact: 

Dr. Eva Prieschl-Grassauer
Chief Scientific Officer, Marinomed
Hovengasse 25, 2100 Korneuburg, Austria
T +43 2262 90300
E-mail: eva.prieschl@marinomed.com
http://www.marinomed.com

Pascal Schmidt
Chief Financial Officer, Marinomed
Hovengasse 25, 2100 Korneuburg, Austria
T +43 2262 90300
E-Mail: pascal.schmidt@marinomed.com
http://www.marinomed.com

International Media Contact
MC Services AG
Dr. Brigitte Keller, Julia Hofmann
T +49 89 210228 0

UK: Shaun Brown
M: +44 7867 515 918
E-mail: marinomed@mc-services.eu

Media Contact Austria
Metrum Communications GmbH
Roland Mayrl
T +43 1 5046987-331
E-Mail: r.mayrl@metrum.at

 

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.