Herbst Kinsky advises Marinomed on its financing by EIB
Herbst Kinsky advises its long-standing client Marinomed Biotech AG which is listed at the Vienna Stock Exchange since February 2019 on the issuance of a loan to the company in the amount of EUR 15 mio by the European Investment Bank (EIB). The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI).
Marinomed Biotechnologie GmbH was founded in 2006 as a spin-off from the Veterinary University of Vienna. Marinomed is specialised in the development of innovative products derived from patent protected technology platforms to treat respiratory and ophthalmic conditions. 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 in more than 30 countries around the world in collaboration with international partners.
The EIB financing, together with the proceeds from the IPO, will enable the company to accelerate growth and to leverage the full potential of Marinomed´s platforms.
The European Fund for Strategic Investments is the heart of the Investment Plan for Europe – also known as the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.
"Following the successful IPO of Marinomed, with financing like this the company can pursue its
vision even faster. We are very pleased to see, that the European policy gives innovation and growth the appropriate priority", so Philipp Kinsky, partner at Herbst Kinsky.