Iconovo and Lonza to collaborate on the formulation development of an intranasal biologic
Iconovo AB (publ), a leader in the development of inhalable drugs based on proprietary inhalers and dry powder formulations, today announced that Iconovo and Lonza has initiated a collaboration to develop spray-dried formulations of an intranasal biologic for Iconovo’s proprietary intranasal device ICOone Nasal®. This project, with a reformulated substance for obesity, is the first in Iconovo’s strategic initiative to reformulate known pharmaceuticals and replace injections and oral treatments with inhalation.
Iconovo announces final outcome of rights issue
Iconovo AB ("Iconovo" or the "Company") today announces the final outcome of the rights issue of units announced on September 25, 2024 (the "Rights Issue"). The final outcome corresponds to the preliminary outcome that was announced through a press release on November 18, 2024, and shows that 5,038,169 units, corresponding to approximately 95.0 percent of the Rights Issue, were subscribed for with and without the support of unit rights. The Rights Issue was 100 percent covered by subscription intentions, subscription undertakings and guarantee commitments. As a result, 267,956 units, representing approximately 5.0 percent of the Rights Issue, have been subscribed for under the guarantee commitments. Through the Rights Issue, the Company will initially receive approximately SEK 28.7 million before issuance costs. Should all associated warrants series TO 1 (the "Warrants") within the issued units be fully exercised, the Company may receive an additional amount of up to approximately SEK 28.7 million.
Iconovo announces preliminary outcome of rights issue
The preliminary subscription summary for the rights issue of units announced on September 25, 2024, with the subscription period ending today, on November 18, 2024 (the "Rights Issue") in Iconovo AB ("Iconovo" or the "Company"), shows that 5,038,169 units, corresponding to approximately 95.0 percent of the Rights Issue, were subscribed for both with and without unit rights. Consequently, the guarantee commitments will be utilized with SEK 1.4 million, up to 100 percent of the Rights Issue, and the Rights Issue is thus fully subscribed. Through the Rights Issue, Iconovo will initially raise approximately SEK 28.7 million before issue-related costs, which are primarily intended to be used to support the execution of the ICOres project with Amneal and the ICOpre project with a generic Ellipta product, as well as support development of a product with intranasally inhaled semaglutide in ICOone Nasal.
Iconovo’s partner Amneal has taken the next important step in the clinical development of ICOres® budesonide/formoterol
Iconovo AB (publ), a leader in the development of inhalable drugs based on proprietary inhalers and dry powder formulations, today announces that the company's development partner Amneal Pharmaceuticals has completed a clinical pharmacokinetic pilot study comparing ICOres® budesonide/formoterol and Symbicort® Turbuhaler®. The results from the study indicate that ICOres® budesonide/formoterol will meet the criteria for demonstrating bioequivalence in an appropriately designed and powered study. The study represents an important step ahead of the initiation of a registration study of the product and Iconovo will proceed according to plan.
Iconovo publishes information memorandum regarding upcoming rights issue and invites to investor presentations
Iconovo AB ("Iconovo" or "the Company") today publishes an information memorandum (the “Memorandum”) regarding the Company’s upcoming rights issue of units, consisting of shares and warrants (together, “Units”), that was announced on 25 September 2024 (the “Rights Issue”). The Memorandum is available on the Company’s website (www.iconovo.se) and on Carnegie’s website (www.carnegie.se). Given full subscription in the Rights Issue, the Company will initially be provided approximately SEK 28.7 million before issue expenses.
QUARTERLY REPORT Q3 2024
24 October 2024
Iconovo decides on a rights issue of units of approximately SEK 28.7 million subject to approval by extraordinary general meeting
The board of Iconovo AB (“Iconovo” or the “Company”) has today resolved on an issue of units, consisting of shares and warrants (together, “Units”), of approximately SEK 28.7 million before issue expenses with preferential rights for existing shareholders (the “Rights Issue”). The subscription price per Unit is SEK 5.40, corresponding to SEK 5.40 per share. The main purpose of the Rights Issue is to support the execution of the ICOres project with Amneal and the ICOpre project with a generic Ellipta product, as well as support development of a product with intranasally inhaled semaglutide in ICOone Nasal. The Rights Issue is subject to approval by an extraordinary general meeting in the Company, which is planned to be held on 29 October 2024. The Rights Issue is 100 percent covered by subscription undertakings, subscription intentions and guarantee commitments. Notice to the extraordinary general meeting will be disclosed in a separate press release.
Iconovo receives positive guidance from FDA regarding substitutability for ICOpre®
Iconovo AB (publ), which develops inhalation products for a global market, today announces that the US Food and Drug Administration (FDA) has issued a positive guidance regarding the generic substitutability of the company's proprietary inhaler ICOpre® with the original drug Breo Ellipta with respect to external design and operating principles.
Iconovo terminates all agreements with ISR Immune System Regulation AB and reclaims the intellectual property rights to ICOone®
Iconovo today announce that the company has terminated all agreements with ISR Immune System Regulation AB ("ISR") due to ISR's failure to meet its payment obligations and its submission of a bankruptcy application on September 11. The parties began collaborating in April 2021 on the development of a COVID-19 vaccine based on the ICOone® inhaler platform. The collaboration has generated revenue for Iconovo totaling approximately SEK 18 million, and Iconovo has already written off the company's remaining claims against ISR in 2022 and 2023. Therefore, today's announcement will have no further impact on Iconovo's financial position or results. Iconovo is now reclaiming all intellectual property rights to ICOone® and is expected to recover approximately SEK 2.7 million in VAT if ISR is declared bankrupt.
Correction: Iconovo develops intranasally inhaled semaglutide in ICOone Nasal for more user-friendly treatment of overweight and obesity
Iconovo AB (publ), a leading player in the development of inhalable medicine of the future based on proprietary inhalers and dry powder formulations, today announces that the company has initiated the development of the GLP-1 analogue semaglutide in the inhaler ICOone Nasal® for intranasal treatment of overweight and obesity. The initiative is based on in-depth analyses of the commercial opportunities for more user-friendly forms of administration of GLP-1. The company will run the project through preclinical proof-of-concept and at the same time initiate discussions with potential license partners for the product. Overweight and obesity are the first indications in Iconovo's new initiative in the development of inhaled GLP-1.