Iconovo has raised 1 million USD for inhalation device development

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.