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Marinomed Starts Restructuring Proceedings As Debts Mount

 
• By Tom Gallen

Weak demand for virus-blocking nasal sprays since the pandemic has left Austrian biotech Marinomed with mounting debts. The company has applied for restructuring proceedings with an Austrian court in an attempt to secure its future.

• Source: Shutterstock

Austrian biotech Marinomed has filed for insolvency as revenue expectations for the 2024 financial year could not be realized as anticipated.

The company reported in May that sales of its virus-blocking compound Carragelose had slumped to pre-pandemic levels as a three-year...

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