Marinomed Biotech AG prepares launch of Carragelose eye drops in 2024

• Moisturizing eye drops complement existing Carragelose OTC product portfolio
• Benefits of Carragelose extended to application in the eye
• Single-territory test launch in Austria in preparation for 2024 and business development process for international roll-out initiated

Korneuburg, Austria, 15 June 2023 – Marinomed Biotech AG (VSE:MARI), announced today the introduction of a new Carragelose eye drop product (MAM-1001-3), expanding the range of the marketed Carragelose OTC portfolio. The product has a valid certification under the Medical Device Directive (MDD) and is currently being prepared for marketing. With a clear path to certify the eye drops under the new Medical Device Regulation (MDR), including the planning of a clinical trial, the product is ready for partnering and distribution in the EU. With a first partnership for the eye drops already in place, a market launch in Austria is targeted for the first half of 2024. Further, Marinomed has started a business development process to identify further partners for the marketing of the product worldwide.

“The introduction of Carragelose eye drops is a logical addition to our current OTC portfolio. This asset has an upright certification and is ready for partnering and marketing, thus will be generating revenues in the near to medium term,” explains Andreas Grassauer, CEO of Marinomed. “The product is intended to provide relief for dry eyes. Carragelose has excellent moisturizing properties and an outstanding safety profile. In addition, Carragelose is well known for its virus-blocking effectiveness.”

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 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. 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.

For further inquiries contact:

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