Marinomed Biotech AG Expands Carragelose Distribution in Gulf Region and Eastern Europe

Marinomed Biotech AG has announced new distribution partnerships aimed at expanding the reach of Carragelose nasal sprays in the Gulf region and Eastern Europe. GAIA Healthcare FZ LLC, based in the United Arab Emirates, will market Carragelose nasal sprays in the Gulf, anticipating regulatory approvals and a possible launch in 2025. In Eastern Europe, the Hungarian company VitaPlus Kft, part of the Belgium-based Ceres Pharma Group, is set to distribute the nasal sprays, with pre-launch activities already underway for a potential sale in 2024.

These partnerships align with Marinomed's strategy to further penetrate existing markets by introducing additional products and leveraging its established Carragelose distribution network. CEO Andreas Grassauer expressed optimism about generating early revenue from these collaborations, particularly with VitaPlus, thanks to existing EU regulatory approvals. The expansion aims to bolster Marinomed’s position in promising pharmaceutical markets such as the Gulf Region and Eastern Europe, alongside progressing in their allergy and eye care products in collaboration with Procter & Gamble for the U.S. market.