VetMedUni biopharmaceutical spinout Marinomed Biotech has secured a $3.4m payment from a strategic tie-up with Link Health Pharma, after pausing its IPO process in November 2018.

Marinomed Biotech, an Austria-based biopharmaceutical spinout of University of Veterinary Medicine Vienna (VetMedUni), will receive €3m ($3.4m) in upfront payment through a strategic partnership with drug producer Link Health, ThePharmaLetter reported on Monday. The spinout will also receive milestone payments in the low eight-digit dollar range for each product developed under the strategic partnership. Founded…

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