The Q2 report released by Iconovo last week underlines an impressive first half of 2020 for the inhalation device company. Besides reaching several important milestones, Iconovo has made significant moves to put more focus on business development and strengthen its market position internationally. BioStock spoke with the company’s CEO Johan Wäborg to discuss the highlights from the report.
With the release of their Q2 report, it is clear that Lund-based Iconovo have high ambitions as it intensifies its focus on business development.
Business development focus
The medical device company develops not only inhalers but also dry powder formulations to be used with their inhalers for the treatment of respiratory diseases such as asthma and COPD. Through its four proprietary inhalation platforms – ICOres, ICOone, ICOcap, and ICOpre – Iconovo has established a strong product portfolio giving the company the opportunity to insert itself into a growing global market, and the company has taken several steps to reach that goal.
During Q2, Iconovo hired a new CEO, Johan Wäborg, whose vast business development experience will be essential for Iconovo’s future growth. The new hire came at a difficult time globally with a pandemic causing several countries to shut down their economies, thus drastically reducing business in general.
Important milestones reached
However, under its new leadership, Iconovo weathered the storm well as it was able to keep business development discussions active by holding virtual meetings with potential customers and partners, thus sustaining a positive momentum. Not only that, but the company has been able to grow internally as well.
In the meantime, the company has achieved a series of important milestones, including the all-important CE-marking of one of its platforms, ICOcap, which can now be used in clinical trials across Europe and can be purchased directly from Stevanato, one of Iconovo’s manufacturing and distribution partners. Read more.
Push towards international markets
One of the most relevant highlights of the Q2 report has been Iconovo’s push to establish itself in international markets both through IP protections and distribution agreements. The first half of the year has seen Iconovo make several moves eastward.