Marinomed announces preliminary revenues for 2021, highest in its history

Marinomed announces preliminary revenues for 2021, highest in its history

• Preliminary revenues of € 11.6 m for the full year, a gain of 43%
• Continued strong demand for Carragelose is main driver for increase
• $ 2 m upfront payment from Budesolv deal contributes to revenues

Korneuburg, Austria, 27 January 2022 - 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 Solv^4U 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."

About Marinomed Biotech AG
Marinomed Biotech AG is an Austrian science-based biotech company with globally marketed therapeutics. Marinomed focuses on the development of innovative products based on two patent-protected technology platforms. The Marinosolv^(R) technology increases the solubility and bioavailability of compounds that are hardly soluble in aqueous formulations. Under the brand Solv^4U, Marinomed provides formulation development based on the Marinosolv^(R) technology for external partners. The Carragelose^(R) platform comprises innovative patent-protected products targeting viral infections of the respiratory tract and may also reduce the risk of an infection with SARS-CoV-2. Carragelose^(R) is used as a virus blocker in nasal sprays, throat sprays, and lozenges, which are sold via international partners in over 40 countries. Marinomed, Marinosolv^(R) and Carragelose^(R) are registered trademarks of Marinomed Biotech AG. These trademarks may be owned or licensed in select locations only. The company is based in Korneuburg, Austria, and listed on the Prime Market of the Vienna Stock Exchange (VSE:MARI). Further information is available at https://www.marinomed.com.

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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.