Marinomed Biotech receives US Patent approval for the Marinosolv® technology and invests in a series of new patents
- US patent significantly extends geographical protection and complements patents in Europe and Greater China
- Comprehensive patent protection to drive growth for pipeline products and Solv4U technology partnerships
- Marinomed to resume Convertible Notes Funding Program with Nice & Green to finance new patents
Marinomed Biotech AG, listed on the Vienna Stock Exchange (VSE:MARI), announces that the United States Patent and Trademark Office has granted the patent US11510859 covering the Marinosolv technology and its solubility enhancing properties. Specifically, the patent protects Marinosolv as a method for improving the aqueous solubility of drugs that are hardly soluble in aqueous formulations. By increasing solubility, the Marinosolv technology can significantly improve existing and development-stage drugs for the treatment of a multitude of diseases.
Dr. Andreas Grassauer, CEO of Marinomed, says: "The granting of the US patent proves once again the outstanding innovative strength of Marinomed and our Marinosolv technology. We have thus laid the foundations in all relevant markets to use our technology to increase the solubility and bioavailability of poorly soluble active ingredients and enable the development of new therapeutics. This holds true for the technology and our Marinosolv-derived pipeline, including our two drug candidates Budesolv and Tacrosolv, as well as for our Solv4U technology partnerships. The comprehensive patent protection in Europe, China and the U.S. is a strong asset to attract additional partners to our technology and will support our growth efforts."
As a science-based biotechnology company, where intellectual property (IP) development is one of the key strategic pillars, Marinomed is currently also working on drafting and filing a series of new patents to protect the intellectual property generated in the company’s research area of drug delivery. To support the financing of these value-creating growth projects in the current volatile capital market environment, Marinomed resumes the issuing of tranches of the Convertible Notes Funding Program with the investment company Nice & Green after the program was paused in July this year. In addition to financing new patents, these funds will be used to finance Carragelose sales growth in a still challenging supply chain. "We have a full pipeline and intend to further protect our intellectual property by drafting and filing patents to generate licensable assets. In the current stock market environment, we appreciate the flexibility that the financing agreement with Nice & Green offers us, and we will use the capital to add further value to our portfolio," concluded Marinomed CFO Pascal Schmidt.
About Marinosolv®: Marinosolv® is an innovative technology platform that enables the solubilization and enhances the bioavailability of small molecules and peptides that are hardly soluble in 2 aqueous formulations. Consequently, new treatments of a multitude of diseases can be envisaged. The use of the Marinosolv® technology can facilitate efficient drug delivery with a low systemic off-target activity. Existing drugs and off-patent active ingredients can be improved and re-patented as part of new formulations using Marinosolv®. Under the brand Solv4U, Marinomed provides Marinosolv® formulation development in technology partnerships for active ingredients at all stages of drug discovery and for lifecycle extension. For more information on Marinosolv® or Solv4U, please visit www.solv4u.com. Scientific publications on Marinosolv® can be accessed in the “Immunology” tabs at https://www.marinomed.com/en/news/scientific-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 iota-carrageenan. 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. Marinomed also develops drugs for other serious viral infectious diseases based on iotacarrageenan. 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.
About Nice & Green SA Nice & Green is a privately held equity financing firm providing tailor-made and flexible financing solutions for listed Micro-, Small- and Mid-Cap companies in Europe. Nice & Green works towards improving financing solutions to better meet the evolving capital raising needs of listed companies. It strives to create value for both the companies and their shareholders, thanks to a virtuous approach for investment. Find out more at nicengreen.ch.
For further inquiries contact:
Marinomed Biotech AG
PR: Lucia Mayr-Harting
T +43 2262 90300 158
Email: pr@marinomed.com
IR: Stephanie Kniep
T +43 2262 90300 226
Email: ir@marinomed.com