Ett svenskutvecklat covidvaccin som ges med en svensk inhalator till behövande i stora delar av världen. Det är målet när ISR köper rättigheterna till att använda Iconovos engångsinhalator för sitt covid-19-vaccin som är under utveckling.

– Möjligheterna är enorma om produkten når marknaden, säger Iconovos vd Johan Wäborg till Life Science Sweden.

Artikeln i sin helhet, se Life Science Sweden.

 

Biostock published April 1th an article about Iconovo that can be found in its entirety below

Yesterday, Inhalation device company Iconovo, which offers complete inhalation products, signed an agreement with immunotherapy company ISR Immune System Regulation. The agreement concerns the development of an inhalation vaccine against Covid-19 in Iconovo’s disposable inhaler ICOone. The parties see significant potential for the product, which is expected to be tested thoroughly in humans in the second half of 2021.

Iconovo develops and outlicenses complete inhalation products with associated dry powder formulations based on the company’s four inhalation platforms – ICOcap, ICOres, ICOone and ICOpre.

Iconovo’s new agreement with ISR Immune System Regulation specifically applies to the single-use dry powder inhaler ICOone, making it particularly suitable for easy and cost-effective administration of vaccines.

Many benefits of inhalable vaccines

An inhaled dry powdered vaccine, like the one ISR develops, has many advantages over a liquid-based one, including being user-friendly, not requiring refrigerated storage and being cheaper to transport. In addition, there are also clinical benefits of a dry powder vaccine; it reaches the affected area of the lung tissue directly, and it does not require needle jabs with the risk of transmission of blood-borne viruses.

Promising results in an animal model

Earlier this year, ISR completed a provocation study with SARS-CoV-2 in mice transgenic for the ACE2 receptor, and results showed that the mice that were administered two doses of the vaccine in the respiratory tract were fully protected against the virus. With this positive outcome behind it, the company moved on to the next phase of vaccine development, which is now under joint management with Iconovo, which has strong patent protection for ICOone in Europe and India and with several patent applications under consideration in China, the US and Japan.

»The potential for an innovation like this will be huge if it reaches the market. We believe that ICOone has the potential to replace injections of vaccines and other important molecules, thereby offering a smarter way to administer these pharmaceuticals. Iconovo is a global leader and wants to act as a driving force in this development« — Johan Wäborg, CEO of Iconovo.

Clinical study begins H2, 2021

ICOone

The agreement between the parties gives ISR an exclusive global right to use ICOone for vaccination against SARS-CoV-2, using a technology based on the virus’s spike proteins with adjuvant.

Iconovo’s commitment is to contractually develop an inhalation product with the goal of evaluating it in a clinical study starting in the second half of 2021. In the agreement, ISR has a future option to use its vaccination technology together with ICOone for the prevention of respiratory infections such as influenza, RS-virus, and new strands of Covid virus vaccines based on the same technology.

High market potential

The parties rely on World Bank data showing that there are currently 3.9 billion people in lower-middle-income and low-income countries that will have later access to vaccines. The data also creates a price benchmark against AstraZeneca’s and J&J’s vaccines, which cost USD 8 – 10 per vaccination. This thus provides a total market potential of USD 31-39 billion, depending on the vaccination rate of a stable inhaled vaccine in these countries. Yesterday’s press release also mentions a scenario in which the virus mutates, which would require annual vaccinations as is happening today for influenza. The market for annual flu vaccinations is estimated at least USD 5.5 billion per year.

»This is a very important step towards taking our inhaled covid-19 vaccine to the market quickly with a suitable single-use inhaler. We believe that the product will be of greatest use in developing countries with restricted access to refrigeration and where the vaccination programs have not advanced yet. We also hope that an inhaled vaccine will give a more adequate immune reaction in the lung which is patrolled by another type of anti-body« – Ola Winqvist, CEO of ISR

Milestone payments and royalties

The agreement includes stepwise payments of a 9 MSEK technology access fee, set up as five increasing milestone payments over the development to market authorisation. The first milestone of 0.2 MSEK was paid at the agreement signature. ISR will also pay Iconovo for the contract development of the inhalation product, which, in a first binding feasibility trial, amounts to 3.6 MSEK, followed by the production of clinical trial material at a preliminary value of 5.5 MSEK. Additionally, the agreement will give Iconovo low single-digit percentage royalties over a period of 14 years from market launch.

The agreement means that Iconovo now has two projects in its innovative inhalation project portfolio – one with ISRfor an inhalable Covid-19 vaccine and one with Monash University for inhalable oxytocin. BioStock will follow thedevelopment of both projects and potential future projects in the new strategic area of innovative inhalation products.

Read the article at the Biostock webpage

Iconovo AB (publ), a company developing complete inhalation products for a global market, today announced that it has signed an agreement with the immunotherapy company Immune System Regulation AB (ISR), an affiliate to ISR Immune System Regulation Holding AB (publ), for the development of an inhaled covid-19 vaccine in Iconovo’s inhaler ICOone®. The agreement is Iconovo’s second agreement within its newest strategic area innovative inhalation projects and confirms the suitability of ICOone to be used also for vaccines.

The agreement gives ISR exclusive rights to use ICOone for the treatment of covid-19 and its variants with a technology based on so-called spike proteins with an adjuvant. Iconovo will contractually develop an inhalation product with the aim to test the product in a human clinical trial targeted to start during the second half of 2021. In the agreement ISR receives an option to also use its vaccination technology in ICOone for influenza, RS-virus, and new strands of covid-virus vaccines based on the same technology.

The agreement includes stepwise payments of a 9 MSEK technology access fee, set up as five increasing milestone payments over the development to market authorization. The first milestone of 0.2 MSEK was paid at the agreement signature. ISR will also pay Iconovo for the contract development of the inhalation product which in a first binding feasibility trial amounts to 3.6 MSEK, followed by the production of clinical trial material at a preliminary value of 5.5 MSEK. Additionally, the agreement will give Iconovo low single-digit percentage royalties over a period of 14 years from market launch.

Today there are 3.9 billion people in lower-middle-income and low-income countries who will have a late access to covid-19 vaccines, according to the World Bank. With a price corresponding to the vaccines from AstraZeneca or J&J (8 – 10 USD per vaccination) this represents a full market potential of totally 31 – 39 billion USD. The size of the sales potential for an inhaled covid vaccine will depend on the rate of vaccination in these countries. There is also a scenario where the virus will mutate and, in the future, create the need for annual vaccinations similar to how influenza is managed today. As a comparison, the market for annual influenza vaccinations amount to at least 5.5 billion USD per year.

”With this project Iconovo widens its experience within the new strategic area innovative inhalation projects, and we look forward to more similar projects where we can contribute with our inhalation experience. It sends a strong signal to the market that more companies see ICOone as a suitable inhaler for innovative applications,” says Johan Wäborg, CEO of Iconovo.

ISR has previously shown in animal models that its vaccine gives good protection against covid and this is the next step in the development of a spray-dried inhaled vaccine formulation for use in Iconovo’s single-use inhaler ICOone. An inhaled formulation gives important benefits such as ease of use, cheaper transportation, storage without the need for refrigeration and no handling of needles and syringes. To remove the need for refrigeration and the handling of contagious material represent a large savings potential and can potentially eliminate the risk of spreading disease through infected needles. Another important benefit is that the vaccine directly reaches the affected area in the pulmonary tissue that will give the needed type of immune response for protection.

“This is a very important step towards taking our inhaled covid-19 vaccine to the market quickly with a suitable single-use inhaler. We believe that the product will be of greatest use in developing countries with restricted access to refrigeration and where the vaccination programs have not advanced yet. We also hope that an inhaled vaccine will give a more adequate immune reaction in the lung which is patrolled by another type of anti-body,” said Ola Winqvist, CEO of ISR.

“The potential for an innovation like this will be huge if it reaches the market. We believe that ICOone has the potential to replace injections of vaccines and other important molecules, thereby offering a smarter way to administer these pharmaceuticals. Iconovo is a global leader and wants to act as a driving force in this development,” said Johan Wäborg.

About ISR

ISR is an innovation-driven development company of pharmaceuticals within immunotherapy. The business idea is to convert preclinical immunological research to clinical development stimulating the the immune system to fight chronic infections like HIV, HBV and cancer by developing the company’s pipeline of immunostimulants Immunolider and Immunorheliner and utilize the immune system to develop designer vaccines. The company has its headquarter in Stockholm.

About ICOone®

ICOone is a unique, patented dry powder inhaler for single use. The smart design generates an ultra-low manufacturing cost combined with simple and discreet use. It is particularly suitable for short-term treatment and as-needed use as it provides an unsurpassed low treatment cost and price point for treatments with a low number of doses. The simple design also enables patients and caregivers to learn how to handle the inhalers with minimal training. ICOone can deliver large inhalation doses that are well protected against moisture, an important factor for many biomolecules.

Biostock published March 16th an article about Iconovo that can be found in its entirety below

Last week, Iconovo announced that they have been granted their first patent in India for the inhaler ICOone. The patent opens up significant opportunities for innovative inhalation products, such as inhalable vaccines and biomolecules. Iconovo has already begun a development project with the biomolecule oxytocin with the aim of preventing major bleeding in women after childbirth.

Iconovo develops and outlicenses complete inhalation products with associated dry powder formulation based on the company’s four inhalation platforms – ICOcap, ICOres, ICOone and ICOpre. The company recently received a patent in India for ICOone, a user-friendly disposable inhaler with a low manufacturing cost.

 At the end of 2020, Iconovo entered into collaboration with Monash University in Australia for the development of inhaled ocytoxin in ICOone to prevent Postpartum Haemorrhage (PPH), i.e., severe blood loss after childbirth. PPH is globally the most common cause of maternal mortality with approximately 60,000 deaths annually. Read more about the collaboration with Monash University here. 

First granted patent in India for ICOone

Iconovo already has approved patents on ICOone in Europe and recently India was added to the list of countries with approved patents for the inhalation platform. Several patent applications are also pending in China, the US, and Japan.

The ICOone patent in India will be important in Iconovo’s cooperation with Monash University as India is one of the countries with major problems with PPH. India accounts for about 19 per cent of global maternal mortality, with PPH as the main cause.

Today, oxytocin is injected to avoid major bleeding in the mother following childbirth. However, it is far from all mothers who receive such an injection, especially in India and other developing countries. Injectable oxytocin requires refrigeration storage, which can be difficult to maintain in regions with limited infrastructure.

ICOone has broad potential

Iconovo also sees opportunities in India for other innovative inhalation products, such as dry powder vaccines instead of the temperature-sensitive liquid form:

»A patent in India is extremely important for us since it is a large potential market for which ICOone is particularly well suited. A cheap, simple and safe way to supply vaccines to a large population is of great interest to many of our potential customers, not the least in India« – Orest Lastow, CTO and founder, Iconovo 

The ICOone dry powder inhaler is intended for single use, which makes it particularly suitable for administering vaccines in a simple and cost-effective way. ICOone is also adapted for the administration of biomolecules as it can deliver large inhalation doses that are well protected against moisture, which is important for many biomolecules.

ICOone contains a dry powder and does not require cold storage, which can otherwise be problematic and expensive when transporting and storing, for example, vaccines in liquid form. Inhalable vaccine also eliminates the use of syringes and the hazardous waste that occurs from injections. Iconovo founder Orest Lastow talks more about this in an article in MEDTECH Outlook.

Iconovo’s CEO Johan Wäborg also highlights ICOone’s potential in a presentation from the latest edition of BioStock Live. Like Lastow, Wäborg sees great potential in inhaled vaccines, but also in emergency medicine where syringes are often used, for example, in allergic reactions, epilepsy, hypoglycemia and heart attacks.

New inhalation products

In the past, Iconovo has mainly focused on the development of generic products for the treatment of COPD and asthma, which is a significant market with over 590 million people affected worldwide. Now the company also has its sights set on innovative inhalation products, which the Monash project exemplifies.

Several other companies have previously successfully developed such inhalation products. One example is Mannkind, which has developed an inhalable insulin that was approved by the FDA in 2014. Furthermore, Relief Therapeutics has developed the vascular dilator aviptadil which is currently being evaluated in inhaled form for the treatment of severe Covid-19, but which has previously been used for the treatment of erectile dysfunction. Another example is Alexza Therapeutics, which has developed the inhalation drug loxapine for the treatment of schizophrenia and bipolar disorder.

These are just a few examples of companies that are an inspiration to Iconovo in their own development of innovative inhalation products and BioStock will continue to follow Iconovo’s advancement in the field.

Read the article at the Biostock webpage

Iconovo deltar på Stockholm Corporate Finance 13e Life Science Seminarium den 23 mars 2021, kl. 11.00 då VD Johan Wäborg presenterar senaste utvecklingen och framtiden för bolaget. Stockholm Corporate Finance arrangerar kapitalmarknadsdagen för trettonde året i rad. Om du vill anmäla dig som deltagare till kapitalmarknadsdagen så använd denna länk,
https://www.lyyti.fi/reg/scf-life-science-seminarium-2021

Iconovo AB (publ) has been granted its first patent in India on the inhalation platform ICOone®. Iconovo has previously granted ICOone® patents in Europe (EPO) and have several patents pending in USA, India, China and Japan.

ICOone® is Iconovo’s platform for simple and cost-efficient delivery of vaccines and biomolecules to the lung. Since ICOone® delivers a dry powder, there is no need for expensive and complicated cold storage. Inhaling the drug eliminates the use of disposable syringes and no hazardous waste with blood contaminated syringes is generated.

A good example of ICOone® use is the cooperation with Monash University. In this project Oxytocin is administered to women during birth to prevent heavy bleeding, Postpartum Hemorrhage (PPH). Oxytocin is today typically delivered as an injection and requires cold storage, which can be very challenging in regions with less developed infrastructure. PPH is globally the most common cause of maternal mortality with over 60 000 fatalities annually. India represents a significant part of all PPH cases.

”A patent in India is extremely important for us since it is a large potential market for which ICOone® is particularly well suited. A cheap, simple and safe way to supply vaccines to a large population is of great interest to many of our potential customers, not the least in India”, says Dr. Orest Lastow, CTO and founder at Iconovo.

About ICOone®
ICOone® is a unique, patented dry powder inhaler for single use. The smart design generates an ultra-low manufacturing cost combined with simple and discreet use. It is particularly suitable for short-term treatment and as-needed use as it provides an unsurpassed low treatment cost and price point for treatments with a low number of doses. The simple design also enables patients and caregivers to learn how to handle the inhalers with minimal training. ICOone® can deliver large inhalation doses that are well protected against moisture, an important factor for many biomolecules.

https://iconovo.se/products/icoone/

 

Biostock published February 23th an article about Iconovo that can be found in its entirety below


Last week, Iconovo published its report for the fourth quarter and the result for the full year 2020. The company reported a higher turnover compared with the previous year, which is mainly due to the fact that Iconovo achieved several sub-goals within the customer projects. During the past year, Iconovo also initiated new projects with strong partners.

Iconovo develops complete inhalation products, i.e., both inhalers and associated dry powder formulations. The inhalation products are primarily intended as generics for the treatment of asthma and COPD, but the company also plans to develop innovative inhalation drugs such as inhaled oxytocin and vaccines.

The company has developed four product platforms – ICOres, ICOcap, ICOone and ICOpre – which are linked to five different royalty agreements. According to the year-end report and the previously communicated operational goals, one of the goals for Iconovo is to enter two more royalty agreements in 2021.

One of the better quarters in Iconovo’s history

In 2020, Iconovo kept up a good pace in project deliveries and this was also reflected in the turnover figures. During the fourth quarter, Iconovo had a turnover of SEK 7.7 million, which is the highest quarterly turnover in three years. The sales figures during the fourth quarter stemmed from, among other things, large project deliveries in the customer projects with Amneal and Intas.

For the full year in 2020, Iconovo had a 50 per cent increase in turnover: from SEK 11.7 million in 2019 to SEK 17.8 million in 2020. After having presented these positive figures, Iconovo was able to announce that the company’s CEO Johan Wäborg has bought shares in Iconovo for SEK 1.1 million at the price of SEK 55 per share.

Two new customer agreements

In 2020, Iconovo entered into two new customer agreements, one with BNC Korea and one with Monash University, both of which are expected to create great value for Iconovo. The licensing agreement with BNC Korea applies to the production and sale of generic versions of Novartis’ Ultibro and Seebri in ICOcap in an Asian territory with 2.7 billion inhabitants.

The agreement with Monash University, signed in December 2020, gives Monash a license to commercialise ICOone with inhalable oxytocin. This is a groundbreaking agreement for Iconovo for several reasons according to Johan Wäborg. 

Through the deal, Iconovo is entitled to royalties from BNC Korea’s net sales once the products launch. The royalties will be affected by the sub-licensing terms agreed with their distributors. Overall, these royalty payments, not milestone payments, will represent most of the value in the deal, and they will be a mid-single digit percentage of sales, depending on country and distribution setup.

The report highlights the sustainability aspect

The project with Monash is Iconovo’s first project in innovative inhaled drugs, i.e., a drug that is not a generic drug.

According to Wäborg, inhalable oxytocin has the potential to save thousands of lives. Every year, 75,000 women die from postpartum haemorrhage, mainly in rural areas in Asia and Africa. In regions that are economically stronger, oxytocin injections are given to prevent the bleeding. However, they require transport and storage in an unbroken cold chain. If Iconovo and Monash succeed in developing an inhalable oxytocin, the problem of cold storage will be solved, all while eliminating the risks of spreading infection and hazardous waste.

Furthermore, Wäborg believes that the project with Monash and Iconovo’s other activities has a strong connection to the UN’s sustainability goals. The company mainly focus on three global goals – Good Health and Well-beingDecent Work and Economic Growth, and Climate Action.

Orest Lastow sees potential in ICOone

Iconovo sees an increased interest in projects similar to the one with Monash, i.e., where substances are suitable for administration with the disposable inhaler ICOone. Iconovo’s idea is to use ICOone with inhalable vaccines, as Dr Orest Lastow, CTO and founder of Iconovo, recently communicated in MEDTECH Outlook.

Read Orest Lastows article 2021 – Search for vaccinations without cold storage in MEDTECH Outlook

ICOpre accounts for a large part of the development costs

According to the report, the company’s development costs amounted to SEK 4.85 million in 2020. A relatively large part of the costs stems from the development of ICOpre, Iconovo’s largest investment to date. In 2020, Iconovo reached the goal of developing a functional ICOpre inhaler with several injection-molded parts. Now the goal is to complete the development of ICOpre so that a structured sales process can take off.

We will see the finished version of ICOpre in May when Iconovo presents the inhaler at the Respiratory Drug Delivery congress. After that, Iconovo will develop five powder formulations for ICOpre, which are expected to be fully developed by the end of 2021. The plan is to use the powder formulations to develop generic versions of the products in GSK’Ellipta portfolio.

High expectations and increased commercial focus in 2021

After a very active fourth quarter, Iconovo is entering the new year with MSEK 8.9 in accounts receivable. At the end of 2020, Iconovo had SEK 61.7 million in cash and is thus well financed for 2021. According to CEO Johan Wäborg’s presentation in connection with the year-end report, much can be expected from Iconovo in 2021. The company is increasing the pace of business development and has set the high goal of entering into two new deals in 2021. To achieve this goal, Iconovo has strengthened the organisation with several key employees and now has 27 employees. The new recruitments will contribute to a broadening of skills, increased capacity in current projects and an increased attractiveness in the eyes of potential customers and projects.

2021 will also be a year in which Iconovo will deliver in several projects, which means that the customer can initiate studies. A bioequivalence study will be initiated in the project with Amneal during Q2, and the results are expected to be presented during Q3. In 2021, Iconovo will also initiate a phase I study in the oxytocin project with Monash University and complete the development work in the projects with BNC Korea and Intas so that they can begin studies in 2022.

Iconovo is now one year closer to the launch of the first products on the market. The goal is to launch the first product, a generic version of Symbicort in ICOres, on the European market by 2023.

 

Read the article at the Biostock webpage

 

50 percent growth in 2020 and ambitious goals for the future

Key figures in TSEK unless otherwise indicated  Oct-Dec 2020 Oct-Dec 2019 Jan-Dec 2020 Jan-Dec 2019
Net turnover 7,681 17,792 11,737
Operating profit/loss -3,610 -7,207 -16,717 -11,774
Cash flow for the period -10,398 48,405 -27,467 36,106
Earnings per share (SEK) -0.58 -1.10 -2.20 -1.68
Cash and cash equivalents 61,689 89,156 61,689 89,156
Equity 92,729 108,794 92,729 108,794
Number of shares at period-end 7,776,000 7,776,000 7,776,000 7,776,000
Number of royalty agreements** 5 3 5 3

**Number of agreements at the end of the period

Significant events 1 October – 31 December
· In December, Iconovo signed an agreement with Monash University for the development of inhaled Oxytocin in ICOone. The agreement confirms the suitability of using ICOone for innovative drug projects. Australian Monash University is leading the development project in collaboration with Janssen Pharmaceuticals. Through the agreement, Iconovo will receive a technology access fee totalling EUR 900,000, where the first milestone will be paid as a licence fee for the project after a positive phase 1 study, planned for 2021. The agreement provides royalties ranging from 5 to 10% over a 20-year period from the date of launch.
· Iconovo recruited a Director Project Management and a Director Alliance Management. This is to increase focus on customer needs and enable the delivery of customer projects at an even higher quality and in a more efficient manner.

Significant events 1 January – 30 September
· In July, Iconovo signed a regional know-how licensing agreement with BNC Korea Co Ltd. The agreement gives exclusive rights to manufacture, market, sell and distribute two capsule formulations together with ICOcap in the territory. The deal has a value of EUR 550,000 and future royalties of a medium single-digit percentage of sales.
· In May, Amneal joined as a new partner in the development of Iconovo’s project with generic Symbicortâ. Amneal is taking over all obligations under the current agreement from CBC. The project will proceed according to plan.
· The ICOcap capsule inhaler has become CE-marked for use in clinical trials and can be purchased directly from Stevanato, which is the manufacturing and distribution partner.
· In April, Orest Lastow took over the role of company Chief Technology Officer (CTO), and Johan Wäborg was hired as the new CEO. Orest Lastow, one of the co-founders and one of the largest shareholders together with the company’s Board Chair, is the inventor behind Iconovo’s three inhaler platforms and is now focusing on development of the new ICOpre platform.
· The COVID-19 pandemic currently has a limited impact, and this is expected to be the case in the future as well. The company has the required goods in stock, and sales are not physical. The greatest impact that could occur is some delay in development in the event that company employees fall ill.
· On 11 March 2020, an Extraordinary General Meeting was held which decided on an incentive programme and the issue of 200,000 warrants to the future CEO. Subsequently, there was subscription
of 200,000 warrants for a total of SEK 1,224,000.

Significant events after the end of the quarter
· In January, Iconovo communicated its operational goals for 2021.
· In February, Iconovo received its first order for development work for Monash University. This compensation is in addition to the technology access fee previously contracted with the customer.
· In February, the company announced that the United States Patent and Trademark Office issued an intention to approve (Notice of Allowance) a patent for the ICOres inhalation platform. This is the second patent approval for ICOres in the United States.
· In February, the first two patent applications for the new ICOpre inhalation platform were submitted.

A word from the CEO

50% increase in turnover
Q4 ended the year with a good pace in project deliveries, and we reached MSEK 7.7 in turnover, which is the highest quarterly turnover in three years. 2020 thus lands on a 50% increase in turnover compared to the previous year.

I am proud of the project teams, who were able to reach several important milestones during the quarter. It is worth mentioning that some of the last milestones in the Amneal project were delivered, and that several milestones were delivered in the Intas project.

In the internal development project with ICOpre as well, the teams were able to reach our goal of developing a functional inhaler with several injection-moulded components.

Agreement with Monash University
At the end of December, we announced that we have entered into a new agreement with Monash University, backed by Janssen Pharmaceuticals, which is part of J&J. The agreement gives Monash a licence to commercialise ICOone with inhalable Oxytocin.

Inhalable Oxytocin has the potential to save thousands of lives. Each year, upwards of 75,000 mothers die from postpartum haemorrhage, mainly in rural areas in economically weak regions. This is prevented in economically stronger countries through use of Oxytocin injections in connection with childbirth. In many countries, it is difficult to transport and store drugs in an unbroken chain of refrigeration. Inhalable Oxytocin in ICOone can solve this problem, while at the same time eliminating the risks of spreading infection and hazardous waste.

We are extremely proud to be selected to contribute our know-how and ICOone to this important project with a strong connection to sustainability. This serves as confirmation that our platforms are of global interest, including for innovative drugs.

Ambitious operational goals for 2021
In January 2021, we communicated our operational goals for the year, which will see final delivery of the development work for Amneal, Intas and BNC Korea. The customers can then begin bioequivalence studies. Amneal is expected to start its study in Q2, with study results in Q3. Monash University will also begin its Phase 1 study of inhalable Oxytocin in ICOone.

We will also take our strategically important ICOpre project to a phase where we can launch a structured sales process. The goal for this year is to produce a fully ready-to-use inhaler with formulations for all five products in GSK’s ElliptaÒ portfolio, whose sales are forecasted at USD 4.5 billion by 2023. The first out is RelvarÒ  in the USA, where the patent expires in 2025.

As a result of our increased commercial focus, we are also doubling the target number of new deals, with a view to achieving two new agreements in 2021.

New year, new strategic area
As a result of the agreement with Monash, we see a large increased interest in projects with substances that are suitable for administration with a single-use inhaler. We are therefore creating a new strategic area: Innovative inhalation drugs, which, together with our current strategic area generic inhalation drugs, will be extremely important for our future growth. The potential is enormous.

Impact through sustainability goals
Iconovo works globally all over the world, and we currently have customers in the USA, Korea, Australia, India and Europe. We thus have a great opportunity to use our influence to steer the world around us towards achieving sustainable local and global solutions.

In 2021, we will link both company goals and individual goals to the UN’s sustainability goals, referred to as the 2030 Agenda. In recent months, we identified and prioritised three of the 17 global goals that not only best match our operations and the phase we are in today, but are also important to our employees, customers and owners. We are focusing on Good Health and Well-being, Decent Work and Economic Growth, and Climate Action.

COVID-19
COVID-19 is having minimal impact on Iconovo, and work on our projects is progressing according to plan. In business development, it is possible to maintain a high level of activity through virtual meetings. However, we look forward to and are planning to reconnect with our customers via physical meetings as soon as possible.

The organisation is growing at pace with increasing business
We recently made many investments to increase our capacity, put further focus on project implementation, and become better at customer acquisition.

In recent months, we hired several new key employees. We are now a force of 27 people – a very competent organisation in which new employees quickly become part of our family and contribute to us having increased capacity to both handle current projects and take on more projects.

Keeping an eye on the bottom line
At the end of 2020, we had MSEK 61.7 in cash and cash equivalents. After a very active Q4 with a high level of invoicing, we are entering the new year with MSEK 8.9 in accounts receivable. As a result, we are well funded for the future. I look forward to letting you knowabout our upcoming activities. We have a very exciting year ahead of us.

Johan Wäborg, CEO

 

Contacts


Johan Wäborg, CEO
+46 707 78 51 71
johan.waborg@iconovo.se


About Iconovo


Iconovo was founded in 2013 by people with long experience in inhalation development. The company develops inhalers and associated drug preparations that are used to treat asthma and COPD. However, Iconovo also has the competence to develop products for new types of inhaled drugs such as vaccines.

By working with Iconovo, pharmaceutical companies and generic companies can access a complete pharmaceutical product, thereby eliminating the complex and costly early stages of the development phase. Iconovo licenses its patented products to customers and offers a faster way to the inhalation market with lower risk and at a lower cost.

More information about the company can be found at www.iconovo.se.

Iconovo is based in Lund and its share (ticker ICO) is listed on Nasdaq First North Growth Market, Stockholm since April 6, 2018. The Company’s Certified Adviser is Erik Penser Bank AB, Box 7405, SE-103 91 Stockholm, phone +46 8 463 80 00, email: certifiedadviser@penser.se.

Iconovos VD Johan Wäborg intervjuas av aktieanalytiker Johan Löchen från Erik Penser Bank. Se videon youtu.be.

 

 

Johan Wäborg, VD i Iconovo AB (publ), har förvärvat 20 000 aktier i bolaget till kursen 55 SEK, totalt 1 100 000 SEK. Förvärvet gjordes från Orest Lastow som är medgrundare och CTO i Iconovo. Orest Lastow kommer även att efter försäljningen till Johan att vara bolagets andra största aktieägare med 826 400 aktier motsvarande ca 10,6% av bolagets aktier. Efter förvärvet uppgår Johan Wäborgs innehav till 27 200 aktier samt 200 000 teckningsoptioner.