05:27 AM EDT, 09/24/2026 (MT Newswires) -- An insolvency court ordered the closure of Austrian biotech company Marinomed Biotech's (MARI.VI) business following an application by its administrator, according to a Thursday release. Marinomed Biotech said it could not continue operations as they failed to deliver the required results, while efforts to sell licensing rights and secure new investors have so far been unsuccessful. The company noted the insolvency administrator will now launch a sales process for its assets.

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