Restructuring proceedings successfully completed

Marinomed Biotech AG: Restructuring proceedings successfully completed

• Restructuring proceedings formally ended by resolution of the Korneuburg regional court after meeting all necessary conditions, including unanimous approval of the restructuring plan
• Management Board takes over administration of Company from insolvency administrator
• Restructuring plan to be fulfilled within the next two years; necessary funds to be obtained from sale of Carragelose business and commercialization of Marinosolv asset

Korneuburg, Austria, 20. January 2025 – Marinomed Biotech AG (VSE:MARI) announces that the restructuring proceedings without self-administration opened on August 14^th, 2024, have been formally completed by resolution of the Korneuburg regional court on January 14^th, 2025. In December, the Company met all necessary prerequisites, including depositing the funds required for payment of the cash quota and the costs of the proceedings. With the formal end of the proceedings, administration by the insolvency administrator has also ended and the Management Board has regained control over the Company.

Prior to this, unanimous approval of the restructuring plan was obtained from the creditors, in particular the European Investment Bank. The plan provides for a quota of 30%, payable within the next two years. Key element of fulfilling the plan is the sale of the Carragelose business to Unither Pharmaceuticals. Shareholders’ approval, which is one major closing condition for this deal, has been obtained in an extraordinary general meeting on December 19^th, 2024.

“We are relieved that we were able to successfully complete the restructuring process. With the sale of the Carragelose business, we are well positioned to fulfill the restructuring plan. At the same time, our top priorities are now to develop a new strategy and to push ahead with the commercialization of our Marinosolv and Solv4U assets”, Andreas Grassauer, CEO of Marinomed, adds.

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 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.