Marinomed Biotech AG (VSE:MARI), an Austrian science-based biotech company with globally marketed therapeutics derived from innovative proprietary technology platforms, today announced preliminary revenues for 2021. Revenues increased by 43 % to € 11.6 m, the highest in Marinomed’s history. This increase reflects the ongoing strong demand for Carragelose-based products as well as the upfront payment from the collaboration and licensing agreement with the Chinese company Luoxin Pharmaceutical Group Co., Ltd., for Budesolv, a budesonide-based nasal spray.
“The past year has been very successful. With our first deal for a Marinosolv-derived product candidate, Budesolv, we achieved another milestone for our company. In addition, we launched Solv4U to make Marinosolv available to partner companies and support them in developing effective formulations for their active pharmaceutical ingredients. Further, we received clinical confirmation from an independent study that our virus blocker Carragelose can significantly reduce the number of COVID-19 cases, and we were able to show that Carragelose continues to be effective against several variants of concern,” Dr. Andreas Grassauer, CEO of Marinomed, said. “We thus achieved our guidance for 2021 and are now in an excellent position for the upcoming projects in 2022. We will concentrate on Marinosolv-derived therapeutics, which will be key value drivers for us on our long-term growth path.”
The full press release is available as download here: