Schoenherr has advised Swiss investment company Nice & Green on the up to EUR 5.4 million convertible note funding program for Vienna Stock Exchange-listed Marinomed Biotech. Herbst Kinsky advised Marinomed.
Under the convertible bond program, Marinomed is entitled to issue up to 18 tranches of zero-coupon bonds in the amount of up to EUR 300,000 per tranche during the contractual term of approximately 23 months.
According to Schoenherr, "this flexible financial instrument will enable Marinomed to advance its scientific and clinical programs for both its virus-blocking Carragelose technology and its equally proprietary Marinosolv platform for the solubilization of active pharmaceutical ingredients."
Nice & Green provides alternative financing solutions for small and mid-sized listed companies.
Marinomed is an Austrian biopharmaceutical company focusing on the development of products to treat respiratory and ophthalmic conditions on the basis of patent-protected technology platforms.
Herbst Kinsky’s team was led by Partner Philipp Kinsky and included Associate Georg Durstberger.