EANS-News: In 2018, Marinomed Biotech AG set the course for accelerated growth

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Financial Figures/Balance Sheet

Vienna -

* Marinomed achieves key strategic milestones and operational successes
* Marinosolv® platform: Phase III study for first product successfully completed
* Expansion of the Carragelose® portfolio and successful entry into new markets
* Positive performance expected in 2019

Vienna, April 30, 2019. Marinomed Biotech AG, an established biopharmaceutical
company that develops innovative therapies for allergies and respiratory and
opthalmic conditions, achieved key strategic milestones and posted operational
successes in the 2018 fiscal year.

Marinomed's successful IPO in the Prime Market of the Vienna Stock Exchange,
which started in 2018 and ended with the company's first listing on February 1,
2019, generated issue proceeds of EUR 22.4 million. This, combined with the loan
of up to EUR 15 million granted by the European Investment Bank at the start of
2019, has given Marinomed an excellent funding base to accelerate the company's
growth and fully exploit the potential offered by the Marinosolv® and
Carragelose® platforms.

Marinosolv®: Phase III study successfully completed
The development process for the innovative Marinosolv® technology platform
proceeded very positively. The Phase III study required for approval of the
flagship product Budesolv, a nasal spray for the treatment of allergic rhinitis,
got underway in 2018 and was completed in April 2019. Initial positive top line
results confirm the benefits offered by the first product of the Marinosolv®
technology platform. The approval process can thus be continued as planned.

Expansion of the Carragelose® platform
In 2018, a further ten markets were added to the sales network for the
Carragelose® platform, whose products have a proven global track record as the
initial causal therapy for colds and flu infections. The Carragelose® portfolio
was extended to include a decongestant product, resulting in six Carragelose®
products now sold in more than 30 countries worldwide.

Dr Andreas Grassauer, Marinomed CEO: "Our strategy centres on long-term growth.
Through our innovative Marinosolv® technology platform, we plan to enter the
multi-billion-dollar market for the treatment of allergies and ophthalmic
conditions. Recent months prove we are well on our way here. And with
Carragelose®, we have further expanded our global sales network and brought
attractive new products to market." Following the IPO, the company plans to
accelerate growth still further and "drive product development, expand into new
markets and fully exploit growth opportunities", continued Grassauer.

Stable sales trend - results shaped by investments in growth
Unlike conventional biotechnology companies, Marinomed is already generating
revenues from the sale of its Carragelose® products. In 2018, the company posted
revenues of around EUR 4.7 million (2017: EUR 4.8 million). Results were
negative, in line with planning, and reflected Marinomed's high investments in
its future growth path. The operating result (EBIT) came in at EUR -5.1 million
(2017: EUR -1.6 million), notably due to higher R&D expenses and one-off costs
in connection with the IPO. In addition, the financial result was burdened by a
one-off, non-cash valuation result of EUR -5.7 million in connection with the
convertible bond issued in 2017. The loss for the year therefore came in at EUR
-12.1 million (2017: EUR -2.4 million). Adjusted for the one-off special effects
(valuation of the convertible bond and IPO costs), the loss for the year in 2018
was EUR -4.6 million.

Positive outlook for 2019
Marinomed expects the expansion of the distribution partnerships and planned
product launches for the Carragelose® platform to bring continuing positive
orders and sales performance in 2019. However, due to the high research and
development expenses, it also anticipates continuing operating losses for the
coming years.

Marinomed's Marinosolv® technology platform serves a billion-dollar market with
strong growth prospects. In addition to continuing the approval process for its
flagship product Budesolv, Marinomed is already researching further developments
based on the platform. For example, clinical development of Tacrosolv, a product
for the treatment of inflammatory ocular disorders, is scheduled to start in
2019.

In the longer term, Marinomed expects a further increase in sales for its
Carragelose® platform through product launches in new markets and the
introduction of additional products in existing markets.

About Marinomed Biotech AG
Marinomed Biotech AG is a biopharmaceutical company with headquarters in Vienna
and is listed in the Prime Market of the Vienna Stock Exchange. The company
focuses on the development of innovative products based on patent-protected
technology platforms in the field of respiratory and ophthalmological diseases.
The Marinosolv® technology platform increases the efficacy of hardly soluble
compounds for the treatment of sensitive tissues such as the eyes and nose. The
Carragelose® platform comprises innovative, patent-protected products targeting
viral infections of the respiratory tract. Carragelose® is used in nasal sprays,
throat sprays and lozenges, which are sold via international partners in over 30
countries worldwide. Further information is available at: www.marinomed.com
[http://www.marinomed.com/].

Disclaimer

This press release contains forward-looking statements based on current
opinions, expectations and forecasts of Marinomed Biotech AG's management
relating to future events. These forward-looking statements are subject to
risks, uncertainties and assumptions which could cause actual results,
performance or events to differ significantly from those which are described in
these statements or expressed or implied elsewhere. The current opinions,
expectations and forecasts of Marinomed Biotech AG's management can be
identified by the context of such statements or by words such as "anticipates",
"believes", "estimates", "expects", "intends", "plans", "project" and "aim".
Forward-looking statements apply only on the day on which they were made.
Marinomed Biotech AG accepts no obligation to update, review or revise forward-
looking statements contained in this press release whether as a result of new
information, future events or other circumstances.

Further inquiry note:
Eva Prieschl-Grassauer
Chief Scientific Officer, Marinomed
Veterinärplatz 1, 1210 Vienna, Austria
T +43 (0)1 250 77 4460
E-mail: [email protected]
http://www.marinomed.com

Roland Mayrl
Managing Partner, Metrum Communications
Prinz-Eugen-Strasse 80/16, 1040 Vienna, Austria
T +43 (0) 1 504 69 87 331
E-mail: [email protected]
http://www.metrum.at

end of announcement euro adhoc
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issuer: Marinomed Biotech AG
Veterinärplatz 1
A-1210 Wien
phone: 0043250774460
FAX: 0043250774493
mail: [email protected]
WWW: www.marinomed.com
ISIN: ATMARINOMED6, AT0000A1WD52
indexes:
stockmarkets: Wien
language: English

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | CNE

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