EQS-News: Marinomed Biotech AG resumes Nice & Green Convertible Notes Funding Program with reduced volume

EQS-News: Marinomed Biotech AG / Key word(s): Bond
   Marinomed Biotech AG resumes Nice & Green Convertible Notes Funding
   Program with reduced volume

   17.10.2023 / 07:45 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Marinomed Biotech AG resumes Nice & Green Convertible Notes Funding
   Program with reduced volume

     • Marinomed and Nice & Green agree to resume flexible Convertible Notes
       Funding Program with reduced tranches
     • Funds will be used to secure project financing and maintain financial
       flexibility on the way to achieving operational profitability

   Korneuburg, Austria, October 17, 2023 –  Marinomed Biotech AG (VSE:MARI)
   has taken steps to further increase the flexibility of its corporate
   financing. Marinomed has agreed on an adjustment of the Convertible Notes
   Funding Program running since October 2021 (initial maturity September
   2023) and its extension until October 2024 with the Swiss investment
   company Nice & Green S.A. So far, 50% of the original program volume of
   €5.4 million in convertible bonds have been issued and converted into
   ordinary shares of Marinomed. In the meantime, the program was paused from
   July to December 2022 and since March 2023. In order to take the share
   price, the share liquidity as well as the dilution effect on existing
   shareholders into account and to secure the ongoing project financing as
   well, it was agreed to continue the program, but to reduce the tranches
   from € 300k to € 160k. Also in the future, Marinomed will have the option
   to suspend the issuance of individual tranches of convertible bonds to
   react to the actual cash needs of the Company and the situation on the
   capital markets.

   Pascal Schmidt, CFO of Marinomed, comments: “I am pleased that the
   cooperation with Nice & Green remains constructive and flexible. The
   extension and amendment of our Convertible Notes Funding Program is an
   already announced step that gives us the flexibility to successfully
   implement the out-licensing program for our product candidates even in the
   current environment. Although it is our highest priority, we cannot
   guarantee that we will conclude a contract in the current financial year.
   The bond provides us with the necessary security to continue pursuing our
   corporate strategy with a focus on partnering our innovative therapies.”

   "We are currently preparing to expand our successful Carragelose portfolio
   to include eye drops and an allergy blocker expecting a launch next year.
   At the same time, we are also negotiating with potential partners to offer
   our Carragelose products in other regions, such as Asia and Eastern
   Europe. We are making very good progress with the transition to the new
   Medical Device Regulation (MDR), and this endeavor also requires financial
   resources, which we can serve through the convertible bond," adds Andreas
   Grassauer, CEO of Marinomed. “Partnering discussions for our Budesolv and
   Tacrosolv products are well underway and remain our top priority. Overall,
   with our three assets Carragelose, Budesolv and Tacrosolv, we are well
   positioned to achieve operational profitability in the medium term.”

   About Nice & Green

   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 [1]https://www.nicengreen.ch.

   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:
   [2]https://www.marinomed.com.

   For further inquiries contact:

   Marinomed Biotech AG        International Media Contact
   PR: Lucia Ziegler           Metrum Communications: Roland Mayrl
   T: +43 2262 90300 158       T: +43 664 6126228
   E-Mail: [3][email protected] E-Mail: [5][email protected]
   IR: Stephanie Kniep          
   T: +43 2262 90300 226
   E-Mail: [4][email protected]

   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.

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   17.10.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
   www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Marinomed Biotech AG
                Hovengasse 25
                2100 Korneuburg
                Austria
   Phone:       +43 2262 90300
   E-mail:      [email protected]
   Internet:    www.marinomed.com
   ISIN:        ATMARINOMED6
   WKN:         A2N9MM
   Listed:      Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
                Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange
                (Official Market)
   EQS News ID: 1749763


    
   End of News EQS News Service


   1749763  17.10.2023 CET/CEST

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