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]pr@marinomed.com E-Mail: [5]marinomed@metrum.at
IR: Stephanie Kniep  
T: +43 2262 90300 226
E-Mail: [4]ir@marinomed.com

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

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Language: English
Company: Marinomed Biotech AG
Hovengasse 25
2100 Korneuburg
Austria
Phone: +43 2262 90300
E-mail: office@marinomed.com
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

References

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3. pr@marinomed.com
4. ir@marinomed.com
5. marinomed@metrum.at

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