EQS-News

Marinomed Biotech AG enters new Carragelose distribution partnerships for Gulf region and Eastern Europe

EQS-News: Marinomed Biotech AG / Key word(s): Contract Marinomed Biotech AG enters new Carragelose distribution partnerships for Gulf region and Eastern Europe 26.03.2024 / 07:45 CET/CEST The issuer is solely responsible for the content of this announcement. Marinomed Biotech AG enters new Carragelose distribution partnerships for Gulf region and Eastern Europe

• Gulf-region specialist GAIA Healthcare FZ LLC obtains license for the marketing of Carragelose nasal sprays
• Expansion of Carragelose partner network in Eastern Europe with VitaPlus Kft.

Korneuburg, Austria, 26 March 2024 – Marinomed Biotech AG (VSE:MARI) has entered into partnerships with GAIA Healthcare FZ LLC and VitaPlus Kft for the distribution of Carragelose nasal sprays. GAIA Healthcare, a renowned pharmaceutical marketing and distribution company based in the United Arab Emirates, has secured the rights to market two different Carragelose nasal sprays in the Gulf region. GAIA will be responsible for obtaining the regulatory approvals in the respective countries, envisaging a possible launch earliest in 2025. Furthermore, Marinomed has expanded its reach in selected Eastern European countries by entering a distribution partnership with VitaPlus, a Hungarian company owned by Belgium-based Ceres Pharma. VitaPlus is a leading Hungarian pharmaceutical company active in the development and distribution of innovative and value-for-money branded food supplements and medical devices in Hungary and beyond. VitaPlus brands such as Medistus are well known by Hungarian pharmacists and consumers and very visible in Hungarian pharmacies and drugstores. VitaPlus is already driving pre-launch and marketing efforts of a Carragelose-containing nasal spray, planning the first sale as early as 2024.

“By adding renowned and reliable partners such as GAIA and VitaPlus to our Carragelose distribution network, we are following our strategy of further expanding our market reach and introducing additional products in existing markets. We will probably see first revenues from our partnership with VitaPlus as early as this year, due to existing regulatory approvals in the EU,” Andreas Grassauer, CEO of Marinomed, mentions. “Overall, we are pleased with the development of our Carragelose business by expanding our geographical reach to interesting pharmaceuticals markets like the Gulf Region and Eastern Europe. At the same time, we are also making steady progress with our new allergy and eye care products as well as with our partner Procter & Gamble for the U.S.”