Iconovo has had a fantastic year. In May, we raised 2.5 million EUR to invest in our formulation development capability. As a consequence we have moved to new specialized labs and doubled our work force. We now have an in-house capability to develop complete dry powder inhalation products including device, formulation and all the analytical testing it takes. Adding to that we now have equipment and experience to develop both carrier-based and micronized spheronized formulations.
There is a tremendous interest in our devices and our product development service. In just a few years we have become the partner of choice for the development of dry powder inhalation products. We are currently in active negotiations with several potential customers. Next year we expect to have ongoing development projects in all our device platforms ICOres, ICOcap and ICOone.
Iconovo has grown significantly over the last year. Fredrik Gunnarsson is our new analytical chemist. Vesna Åkerberg has joined us and is our director of pharmaceutical development. Mårten Appelgren is our new director of business development. Since the operation has grown, we have recruited Mette Gross as our new CFO. To further strengthen our team we have also recruited Henrik Svedberg, who is a very experienced mechanical engineer and Eva Persson who has over 25 years of formulation experience from AstraZeneca.
Iconovo has made major investments in formulation development equipment, glove box and humidity-controlled labs. The labs are now fully equipped to develop carrier based and micronized spheronized formulations and we can work in a scale up to 1 kg. We have also invested in two climate chambers to enable ICH stability studies. Our analytical lab is equipped with several NGI and HPLC-systems for performance testing of dry powder inhalers.
Iconovo has now completed a two-year project, which was funded by Vinnova (Sweden’s Innovation Agency). The project aimed to industrialize ICOone, which is Iconovo’s disposable unit dose inhaler. The inhaler has been optimized for ultra-low-cost manufacturing. And we have made it suitable for administration of vaccines. Over the last months we have had many discussions with major pharma companies and also with WHO about possible inhaled vaccine projects.
Iconovo is proud to sponsor DDL this year again. We see DDL as the most important meeting for inhaled drug delivery in Europe and we are looking forward to participate this week. We will have our exhibition booth at the same place as always. Please come visit us at booth 300, just to the left after entering the exhibition hall. Welcome!