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 in 2006, Marinomed creates pharmaceutical products for respiratory diseases and allergic conditions based on information from its two drug design platforms, Carragelose and…
