Marinomed Biotech AG signs agreement for sale of Carragelose business to French Unither Pharmaceuticals – Biotech Investments

Korneuburg, Austria, November 26, 2024 – Marinomed Biotech AG (the “Company”) announces the signing of an agreement for the sale of its Carragelose business to French Unither Pharmaceuticals (“Unither”), a leading contract development and manufacturing organization (CDMO) of medical devices and pharmaceutical products. The contract provides for upfront and milestone payments of total up to EUR 20 million, depending on the achievement of defined commercial and operational targets, over the next two years. As part of the agreement, Marinomed and Unither intend to enter into a transition service agreement at completion of such transaction. The proceeds from the sale of the Carragelose business are planned to finance both the operating business, with increased focus on the Marinosolv platform, and the restructuring plan agreed upon with the Company’s creditors on November 14, 2024. The closing of the contract is inter alia subject to the successful completion of the restructuring proceedings, the approval by the Company’s Supervisory Board and shareholders at an extraordinary general meeting. 

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