Marinomed Biotech AG enters new Carragelose distribution partnerships for Gulf region and Eastern Europe

Marinomed Biotech AG enters new Carragelose distribution partnerships for Gulf region and Eastern Europe

• Gulf-region specialist GAIA Healthcare FZ LLC obtains license for the marketing of Carragelose nasal sprays
• Expansion of Carragelose partner network in Eastern Europe with VitaPlus Kft.

Korneuburg, Austria, 26 March 2024 – Marinomed Biotech AG (VSE:MARI) has entered into partnerships with GAIA Healthcare FZ LLC and VitaPlus Kft for the distribution of Carragelose nasal sprays. GAIA Healthcare, a renowned pharmaceutical marketing and distribution company based in the United Arab Emirates, has secured the rights to market two different Carragelose nasal sprays in the Gulf region. GAIA will be responsible for obtaining the regulatory approvals in the respective countries, envisaging a possible launch earliest in 2025. Furthermore, Marinomed has expanded its reach in selected Eastern European countries by entering a distribution partnership with VitaPlus, a Hungarian company owned by Belgium-based Ceres Pharma. VitaPlus is a leading Hungarian pharmaceutical company active in the development and distribution of innovative and value-for-money branded food supplements and medical devices in Hungary and beyond. VitaPlus brands such as Medistus® are well known by Hungarian pharmacists and consumers and very visible in Hungarian pharmacies and drugstores. VitaPlus is already driving pre-launch and marketing efforts of a Carragelose-containing nasal spray, planning the first sale as early as 2024.

“By adding renowned and reliable partners such as GAIA and VitaPlus to our Carragelose distribution network, we are following our strategy of further expanding our market reach and introducing additional products in existing markets. We will probably see first revenues from our partnership with VitaPlus as early as this year, due to existing regulatory approvals in the EU,” Andreas Grassauer, CEO of Marinomed, mentions. “Overall, we are pleased with the development of our Carragelose business by expanding our geographical reach to interesting pharmaceuticals markets like the Gulf Region and Eastern Europe. At the same time, we are also making steady progress with our new allergy and eye care products as well as with our partner Procter & Gamble for the U.S.”

About GAIA Healthcare FZ LLC

Gaia Healthcare was established in 2016 to address unmet medical needs in the Gulf Region with the aim of bringing pharmaceutical products & services using a European model of techno-driven pharmaceutical distribution with first mover advantage in the United Arab Emirates & nearby Gulf Countries. Over the last 3 years, GAIA has associated with some of the prestigious European & Asian Pharmaceutical Manufacturers. GAIA has launched several Innovators, Innovator Pharmaceutical, first to file generics, Value added Generics, differentiated generics, medical devices with clinical Innovation, Several OTC Products which will definitely help patients, clinicians and pharmacist community in the region.

About VitaPlus Kft.

VitaPlus is a leading Hungarian pharmaceutical company active in the development and distribution of innovative and value-for-money branded food supplements and medical devices in Hungary and beyond. VitaPlus brands such as 1x1 Vitamin®, Innopharm® and Medistus® are well known by Hungarian pharmacists and consumers and very visible in the Hungarian pharmacies, drugstores and food chains. In 2022, VitaPlus achieved a turnover of EUR 9 million. VitaPlus is part of the Belgium based Ceres Pharma Group active in 10 countries in Europe with 600 employees and EUR 140 million turn over.

About Carragelose®

Carragelose® 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® forms a protective layer on the mucosa that prevents viruses from infecting cells. Laboratory and clinical data have demonstrated that Carragelose® can also inhibit the spreading of SARS-CoV-2.^[1],[2] Marinomed is the holder of the IP rights and has licensed Carragelose® for marketing in Europe, North America, Australia, and parts of Asia and Latin America. Marinomed’s portfolio of Carragelose®-containing nasal sprays and oral products can be accessed at https://www.carragelose.com/en/portfolio/launched-products, scientific publications on Carragelose® at https://www.carragelose.com/en/publications.

About Marinomed Biotech AG

Marinomed Biotech AG is an Austrian, science-based biotech company with a growing development pipeline and globally marketed therapeutics. The Company develops innovative patent-protected products in the therapeutic areas immunology and virology based on the platform Marinosolv® and the virus-blocking activity of Carragelose®. The Marinosolv® technology improves the solubility and bioavailability of hardly soluble compounds and is used to develop new therapeutics for autoreactive immune disorders. The virology segment includes Carragelose®-based over-the-counter (OTC) products to prevent and treat respiratory viral infections that are partnered in more than 40 countries. The Company is headquartered in Korneuburg, Austria, and is listed on the prime market of the Vienna Stock Exchange (VSE:MARI). For further information, please visit: 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. Marinomed, Marinosolv® and Carragelose® are registered trademarks of Marinomed Biotech AG. These trademarks may be owned or licensed in select locations only.

^[1]  https://www.dovepress.com/efficacy-of-a-nasal-spray-containing-iota-carrageenan-in-the-postexpos-peer-reviewed-fulltext-article-IJGM

^[2]  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