Iconovo has raised 1 million USD in venture capital funding to develop inhalation devices. Lennart Holm has also increased his equity share in the company. Lennart Holm is the chairman of the board of the Swedish company BillerudKorsnäs AB and also of Nexam AB and Vigmed AB. Iconovo is based at Medicon Village in Lund and is founded, among others, by ex AstraZeneca employees. Iconovo is developing proprietary dry powder inhaler devices for licensing to pharmaceutical companies. The primary market is generic companies planning to enter the inhalation business but lacking access to devices. The devices are primary intended for asthma and COPD but also for vaccines and biomolecules. “This funding will take us to a level where we have injection molded prototypes with verified performance”, says Orest Lastow, CEO of Iconovo.
Iconovo is a silver sponsor of MVIS (Medicon Valley Inhalation Symposium) 15 October in Lund. We will exhibit our prototypes showing our recent development advances.
Orest Lastow was an invited speaker at MEDTEC Europe 2014 in Stuttgart. He talked about the use of quality by design, QbD, in the development of inhalation products. The talk included a general introduction to the development of inhalation products and a step by step explanation of how to use QbD in the development. The benefits and risks of QbD were also discussed. www.medteceurope.com
We are really proud to announce that Iconovo has received a grant from Vinnova. The price ceremony was held at Vinnova headquarters in Stockholm on the 21st of November. “Of 209 applicants only 20 companies received a grant” says a more than happy Mats Johansson, chairman of the board, and continues “and now we have another 300 000 reasons to be happy!”