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 full press release is available as download here: