Marinomed Biotech AG with important progress for Carragelose in 2024 – Biotech Investments

Marinomed Biotech AG with important progress for Carragelose in 2024

• First patient enrolled in clinical study investigating the moisturizing effectiveness of Carragelose eye drops
• Clinical data showing the effectiveness of Carragelose in alleviating allergic symptoms in patients with grass pollen allergy published in peer-reviewed International Journal of General Medicine
• Marinomed has received patents covering the decongestant Carragelose/Sorbitol combination in Singapore, South Korea, and Brazil

Korneuburg, Austria, 07 February 2024 – Marinomed Biotech AG (VSE:MARI) has enrolled the first patient in a clinical study to investigate the lubricating properties of Carragelose eye drops in patients diagnosed with mild to moderate dry eye disease. While the product holds a valid certification under the Medical Device Directive (MDD), the study supports the switch to the new Medical Device Regulation (MDR). Carragelose eye drops are planned to launch in Austria in 2024. Furthermore, a business development process for partnering the product outside of Austria is in full swing. Next to the eye drops, also the launch of the allergen-blocking Carragelose nasal spray is planned for 2024. Marinomed has published clinical data demonstrating the effectiveness of Carragelose in the prophylactic treatment of allergic rhinitis symptoms in the nose on a pre-print server in October 2023. Now, the data have been published in the peer-reviewed International Journal of General Medicine.

“The universal blocking and moisturizing properties of Carragelose create the opportunity to expand its use from viral respiratory infections to allergy and eye care, allowing us to tap into these exciting markets. With the new patents for the decongestant Carragelose/Sorbitol combination in Singapore, South Korea, and Brazil, we were also able to further strengthen our IP. We are happy that the Carragelose business is constantly making progress and we continue to maximize the value of this asset”, Andreas Grassauer, Marinomed’s CEO, mentions. “In 2024, further major steps are planned for Carragelose: First, the market introduction of our Carragelose eye drops and allergen blocker; second, the launch of Barlo® nasal spray in Mexico; and third, the FDA-approval with Procter & Gamble for the first Carragelose product in the U.S. is expected. We have recently made serious progress towards the approval process and are confident that we will soon be offering our product in the world’s largest OTC market.”

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