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 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: https://www.marinomed.com.

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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.