Marinomed Biotech AG (“Marinomed” or the “company”) received positive feedback from numerous domestic and international investors during the roadshow of its ongoing offering. While firm investor participation to buy new shares was obtained, the current adverse market conditions with high volatility did not allow to fully achieve the targeted offer volume. Marinomed therefore suspends the current offer period (which runs until today, 5 pm CET). Subject to the market environment, the company plans to resume the offer period presumably at the beginning of 2019.
The suspension of the offer period also relates to the qualifying public offering in accordance with the terms and conditions of the convertible bonds issued by Marinomed Biotech AG in 2017, which are traded on the Third Market of the Vienna Stock Exchange.
About Marinomed Biotech AG
Marinomed Biotech AG is a Vienna based biopharmaceutical company focusing on the development of innovative products derived from patent protected technology platforms to treat respiratory and ophthalmic conditions. The Carragelose® platform comprises innovative patent protected products targeting viral infections of the respiratory tract. Carragelose® is used in nasal sprays, throat sprays and lozenges, which are sold in more than 30 countries around the world in collaboration with international partners. The Marinosolv® technology platform increases the efficacy of hardly soluble compounds for the treatment of sensitive tissues such as the eyes and nose. Further information is available at www.marinomed.com.
Eva Prieschl-Grassauer, PhD
Chief Scientific Officer, Marinomed
Veterinärplatz 1, 1210 Vienna, Austria
Tel.: +43 (0)1 250 77 4460
Managing Partner, Metrum Communications
1040 Vienna, Austria
Tel.: +43 (0) 1 504 69 87 331
This press release and the information contained herein are for information purposes only and do neither constitute an offer to sell nor a solicitation of an offer to buy any securities in the United States, Australia, Canada, Japan or in any other jurisdiction. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the laws of any state of the United States, and may not be offered, sold or otherwise transferred in the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States of America, Canada, Japan or Australia.
A public offer of securities of Marinomed Biotech AG is made solely in Austria and by means of, and on the basis of, a prospectus (including any supplements thereto, if any) prepared, approved by the Austrian Financial Market Authority (FMA) and published in accordance with the Austrian Capital Markets Act (Kapitalmarktgesetz). An investment decision regarding any publicly offered securities of Marinomed Biotech AG should only be made on the basis of the prospectus. The prospectus is available free of charge from Marinomed Biotech AG at its registered address at Veterinärplatz 1, A-1210 Vienna, during usual business hours, or on the website of Marinomed Biotech AG (https://www.marinomed.com/offering).
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 speak only as of the date they are made and Marinomed Biotech AG does not assume any obligation to update, review or revise any forward-looking statement contained in this press release whether as a result of new information, future developments or otherwise.