Marinomed, Boehringer Ingelheim sign licensing agreement for common cold anti-viral nasal spray

Marinomed Biotechnologie GmbH, a company focused on the development of innovative therapies for respiratory diseases, announced today that it has signed a licensing agreement with the international pharmaceutical company Boehringer Ingelheim. The deal will aim to further extend marketing of Marinomed's anti-viral nasal spray for the treatment of the Common Cold to all of Europe (except Austria and UK), Russia and CIS, South America, parts of Asia and Australia. This nasal spray is based on Marinomed's anti-viral respiratory technology platform mavirex. Marinomed will receive an upfront payment in the million EUR range from Boehringer Ingelheim, in addition to payments upon the achievement of certain market entry milestones and royalties. Further financial details were not disclosed.

“This licensing agreement is an excellent strategic fit with our ongoing development of new and innovative products designed to afford consumers a range of Over-the-Counter medicines to treat the common cold and related diseases, as well as their associated symptoms.”

Respiratory viruses are responsible for the most common infectious disease in humans - the common cold. Boehringer Ingelheim plans to market the anti-viral nasal spray under the well-known cough and cold brand Mucosolvan^®.

"mavirex" is Marinomed's proprietary anti-viral respiratory technology platform to develop therapies that target more than 200 different respiratory virus strains and Marinomed is investigating the technology for use in a range of other products. The use of the mavirex technology platform for treatment of influenza and in combination products is not included in the agreement.

Dr. Thomas Friedrich, CFO of Marinomed, said:

"This is a landmark agreement for Marinomed. We are delighted to commence a long-term collaboration with Boehringer Ingelheim, a perfect partner for the successful marketing of our innovative common cold product worldwide."

Dr. Andreas Grassauer, CEO and co-founder of Marinomed, commented:

"We are very excited to have signed this deal with Boehringer Ingelheim. Our anti-viral respiratory technology platform has already been validated in clinical trials with adults and children, demonstrating efficacy as an antiviral treatment in treating the cause of the common cold."

"This licensing agreement is an excellent strategic fit with our ongoing development of new and innovative products designed to afford consumers a range of Over-the-Counter medicines to treat the common cold and related diseases, as well as their associated symptoms." explained David Wright, Boehringer Ingelheim's Corporate Senior Vice President Consumer Healthcare.

Marinomed used Proksch & Fritzsche (Vienna) for legal advice and worked together with the business development consultants from Bionest Partners (Paris).