Marinomed Biotech AG seeks reorganisation through restructuring proceedings without self-administration

 Marinomed Biotech AG seeks reorganisation through restructuring proceedings without self-administration

• Application for the opening of restructuring proceedings filed
• Outstanding earn-out payments from Unither Pharmaceuticals and termination of negotiations by Unither.
• Coordination with creditors intended to secure the Company’s sustainable continuation

Korneuburg, Austria, July 22^nd, 2026 – Marinomed Biotech AG (VSE) has filed an application with the Regional Court of Korneuburg for the opening of restructuring proceedings without self-administration. The application was prompted by outstanding earn-out payments from Unither relating to the sale of the Carragelose business and Unither Pharmaceuticals’ termination of related negotiations. As a result, the court-approved restructuring plan dated 14 November 2024 can no longer be fulfilled, exposing the Company to the risk of insolvency. The “Carragelose” business was sold  in an asset deal, and the business operations were transferred in February 2025. The purchase price for the “Carragelose” business comprises a fixed purchase price component of EUR 5 million as well as conditional earn-out payments. The earn-out payments are of central importance to Marinomed, as they were intended to finance a significant portion of the restructuring plan. To date, none of the agreed earn-out payments have been received by the Company. Marinomed takes the position that Unither failed to achieve the agreed targets due to culpable delays in concluding customer contracts and a change in its corporate strategy. The discussions with Unither have stopped without success, and no commercially viable agreement regarding the earn-out payments could be reached.

The objective of the proceedings is to implement a restructuring plan and achieve the sustainable financial stabilisation of the Company. In addition to further restructuring measures, Marinomed intends to pursue the legal remedies available against Unither and realise the potential of its recently launched compounding business.

The strained liquidity situation arose because, despite intensive efforts, no short-term agreement could be reached with Unither and because the conclusion of additional partnerships for Marinosolv products was delayed. As a result, significant milestone payments were not received.

“To safeguard the financial stability of the Company, we have therefore decided to apply for restructuring proceedings. We believe that this offers the best opportunity to create a sustainable foundation for the continuation of the Company and the commercialisation of our innovative products. The situation with Unither has significantly restricted our business activities and financing options in recent months,” said Andreas Grassauer, CEO of Marinomed. “Applying for these proceedings is currently the only available option for the Company. It gives us the opportunity to improve the Company’s financial position while continuing to develop our assets. We are working hard to achieve a successful restart and preserve the value created for all stakeholders. We are grateful for the trust placed in us.”

As part of the application, the Management Board of Marinomed Biotech AG will submit a proposed restructuring plan. The Company’s business operations are intended to continue throughout the restructuring proceedings.

Marinomed Biotech AG generated revenue of approximately EUR 7.7 million in the 2025 financial year. Around 30 employees are currently employed at the Company’s site in Korneuburg. Liabilities amount to approximately EUR 27.9 million, including claims from 2024 that have become enforceable again.

Due to the current developments, Marinomed Biotech AG is postponing the publication of its 2026 half-year financial report, which was scheduled for 16 September 2026.

Marinomed further announces that the existing contract for the provision of liquidity services (market making) with Raiffeisen Bank International has been terminated by the contractual partner with immediate effect. Due to the sudden cessation of market making, there may be a short-term decrease in liquidity for trading Marinomed Biotech AG shares and larger bid-ask spreads. The tradability of the shares on the respective stock exchanges remains fundamentally unaffected. The Management Board is working to agree on a successor market-making mandate promptly and to restore the usual liquidity in the trading of the shares.

The Company will keep the public and all affected stakeholders informed of material developments on an ongoing basis. Further information is available on the Company’s website at www.marinomed.com under “Investors & ESG”.

About Marinomed Biotech AG

Marinomed Biotech AG is an Austrian, science-based biotech company with a growing development pipeline. The Company develops innovative patent-protected products based on the Marinosolv® platform. The Marinosolv® technology improves the solubility and bioavailability of hardly soluble compounds and is used to develop new therapeutics for autoreactive immune disorders. The Company is headquartered in Korneuburg, Austria, and is listed on the Vienna Stock Exchange (VSE:MARI). For further information, please visit: https://www.marinomed.com.

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