Marinomed Biotech sells stake in company
Austrian biotech firm Marinomed Biotechnologie on Tuesday said it has sold a stake in the company to the investment fund aws Mittelstandsfonds for an undisclosed sum in a bid to boost its expansion plans.
The company said the funds from the deal will provide “significant financial means” and help accelerate the global roll-out of its cold and influenza products.
Andreas Grassauer, chief executive of Marinomed, said: "Nasal sprays developed by Marinomed have been approved in 48 countries and these OTC products are well in demand. Our forthcoming investment will accelerate this global market entry. Simultaneously we will continue our focused development of innovative products and thus fill our pipeline even further."
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