Marinomed Biotech AG to Sell Carragelose Business to Unither Pharmaceuticals

Marinomed Biotech AG has signed an agreement to sell its Carragelose business to Unither Pharmaceuticals, a French contract development and manufacturing organization. The transaction is valued at up to EUR 20 million and includes terms for upfront and milestone payments. The deal aims to support Marinomed's restructuring and invest in its Marinosolv platform. The sale's completion depends on shareholder approval and successful restructuring proceedings.

The Carragelose product portfolio, known for its virus- and allergen-blocking properties, will be transferred entirely to Unither. The transaction offers Unither an opportunity to expand in the cough and cold sector, as well as other areas like allergy treatments.

Marinomed plans to focus on the Marinosolv platform after the sale. The company believes the proceeds will assist in covering operational costs and fulfill the restructuring plan, reaching profitability through partnerships involving Marinosolv and other technologies.