Press release
- Highest revenues in company’s history at € 11.6 m (2020: € 8.1 m; +43 %)
- Highlights: first partnership for Budesolv; promising topline data of phase II clinical trial with Tacrosolv; strong demand for Carragelose products
- Presentation of augmented strategy and positive outlook
- Marinomed reviewing various funding opportunities, including equity funding options
Marinomed Biotech AG (VSE:MARI), an Austrian science-based biotech company with globally marketed therapeutics, today announced encouraging results for the 2021 financial year. The upfront payment from the first Budesolv licensing agreement and strong demand for Carragelose products helped the Company to generate the highest revenues in its history, while the operating result (EBIT) for the full year also improved considerably once again.
“We look back on a highly successful financial year. Entering into the first partnership for Budesolv was a particular highlight for Marinomed. With Luoxin Pharmaceutical, a major pharmaceutical company in China, we have gained a strong development and commercialisation partner for their local markets. Launching the Solv4U business unit was another key step, as it will help us make our Marinosolv technology accessible to external customers through technology partnerships”, said Dr. Andreas Grassauer, CEO of Marinomed. “In 2021, we also delivered important clinical data for Carragelose and Tacrosolv that unambiguously confirm the potential of our technologies. As a result, we have refined our strategy and are presenting it as part of the 2021 Annual Report. Based on our expertise, we are concentrating on the two therapeutic areas of virology and immunology with the aim of developing drugs designed to fight viral infections and autoreactive immune diseases. Our efforts in these areas will focus on illnesses with high unmet medical needs. We want to make these innovations available to patients worldwide by forming strong partnerships.”
The full press release is available as download here: