Iconovo AB (publ), which develops complete inhalation products for a global market, announces today that the company expects to achieve profitability in a single quarter in both 2024 and 2025 and full-year profitability from 2026. For 2027, revenues of SEK 250 million are expected with an EBITDA margin of 50 percent, which is in line with the financial targets communicated in June 2022. Approximately 85 percent of the projected revenues come from projects that have already been initiated. The company's strategic focus on its offering in contract development (CDMO) of inhalable drugs is an important contributing factor and the target for the number of new deals is raised to three to five new agreements per year.

Iconovo AB (publ), which develops complete inhalation products for a global market, today announced that it has entered an agreement with a small Danish development company to conduct a feasibility study with a reformulated inhalable version of an already approved drug substance in one of Iconovo's patented inhalers. The project aims to develop a new treatment for a rare disease and gives Iconovo an initial revenue of SEK 0.5 million. Thereafter, a possible license agreement may generate additional revenue through contract services, milestone and royalty payments, or sales of inhalers. Concurrently, another of the new customer's pharmaceutical projects is being evaluated for possible inclusion in the Iconovo Accelerator Program – a newly established initiative to facilitate opportunities for obtaining EU funding. The current agreement pertains to an initial three-month feasibility study of an inhalable version of an already market-approved drug. The aim is to use one of Iconovo's patented inhalers to develop a new treatment for a rare inflammatory disease that usually affects the lungs. Assuming a positive outcome of the feasibility study, the development company intends to apply for orphan drug status through an orphan drug designation request to the US Food and Drug Administration (FDA). Orphan drug status allows for profitable sales of drugs for rare diseases despite small volumes. Iconovo assesses that the new treatment has a high market potential.

Iconovo AB (publ), which develops complete inhalation products for a global market, today announces that it has engaged the global investment bank Stifel to lead a structured process to out-license its proprietary pre-filled inhaler ICOpre®. Iconovo has previously announced that negotiations are ongoing with an unnamed pharmaceutical company regarding a potential license agreement for ICOpre®. In light of increased interest in the inhaler platform from other pharmaceutical companies, Stifel will now lead the continued out-licensing process to maximize the commercial value of a future agreement.