Marinomed Biotech AG signs new agreement for Carragelose in South Korea

Marinomed Biotech AG signs new agreement for Carragelose in South Korea

• Marinomed wins Hanmi Pharmaceutical Co., Ltd., one of the largest South Korean pharmaceutical companies, as partner for the distribution of Carragelose nasal spray
• Hanmi obtains an exclusive license for South Korea, the third largest pharmaceutical market in Asia
• Carragelose, shown to effectively inactivate SARS-CoV-2 wildtype and common variants, is currently available in more than 40 countries worldwide

Korneuburg, Austria, 12 April 2022 - Marinomed Biotech AG (VSE:MARI), an Austrian science-based biotech company with globally marketed therapeutics derived from innovative proprietary technology platforms, announced today that the Carragelose-based nasal spray has been out-licensed for the South Korean market. Marinomed's exclusive license partner is stock-listed Hanmi Pharmaceutical Co., Ltd (128940:Korea SE), headquartered in Seoul. Hanmi Pharmaceutical is one of the leading pharmaceutical South Korean companies with a broad product portfolio in many therapeutic areas and a strong marketing expertise. Under the agreement, Hanmi is responsible for pursuing local approval for the Carragelose nasal spray and will market and distribute the product in South Korea.

"We are delighted to enter into another licence agreement with a strong partner for the marketing of our Carragelose nasal spray in South Korea. With Hanmi Pharmaceutical, we are once more expanding the global presence of our virus-blocker," said Dr. Andreas Grassauer, CEO of Marinomed. "This partnership brings us closer to our goal of making Carragelose accessible to everyone. Carragelose has clinically proven to be safe and highly efficacious in preventing and treating viral respiratory diseases, including COVID-19."

Currently, Carragelose products are available over the counter (OTC) without prescription in more than 40 countries. Carragelose has been well established to prevent respiratory infections by various viruses, including certain influenza virus strains and endemic coronaviruses.^[1] Since the beginning of the COVID-19 pandemic, Carragelose has been shown to effectively inactivate both wildtype^[2] and common variants^[3] of the new coronavirus SARS-CoV-2. Clinical data from an independent study in Argentina had demonstrated an 80 % reduction in PCR-confirmed COVID-19 cases in hospital staff after Carragelose-treatment.^[4]

About Carragelose^(R):
Carragelose^(R) is a sulfated polymer from red seaweed and a unique, broadly active virus-blocking compound. It is known as a gentle, effective, and safe prevention and treatment of various viral respiratory infections. Several clinical and preclinical studies have shown that Carragelose^(R) forms a layer on the mucosa that entraps entering viruses, thereby inactivating them, and preventing them from infecting cells. Laboratory and clinical data have shown that Carragelose^(R) can also inactivate SARS-CoV-2.^1,4 Marinomed is the holder of the IP rights and has licensed Carragelose^(R) for marketing in Europe, Canada, Australia, and parts of Asia and Latin America. Marinomed's portfolio of Carragelose^(R)-containing nasal sprays and oral products can be accessed at https://www.carragelose.com/en/portfolio/launched-products, scientific publications on Carragelose^(R) at https://www.carragelose.com/en/publications.

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.

^[1] https://www.carragelose.com/en
^[2] https://www.marinomed.com/en/news/marinomed-biotech-ag-publishes-new-supporting-data-on-the-in-vitro-efficacy-of-carragelose-against-sars-cov-2
^[3] https://www.marinomed.com/en/news/marinomed-biotech-ag-announces-positive-data-demonstrating-carragelose-efficacy-against-sars-cov-2-variants
^[4] https://www.marinomed.com/en/news/marinomed-biotech-ag-shares-positive-clinical-trial-results-for-iota-carrageenan-nasal-spray-in-the-prevention-of-covid-19-1