The Board of Directors of Iconovo AB (“Iconovo” or the “Company”) has today resolved to carry out a share issue of approximately SEK 36.6 million before deduction of issue costs with preferential rights for existing shareholders (the “Rights Issue”). The subscription price is SEK 1.15 per share. The primary purpose of the Rights Issue is to support out-licensing activities for ICOpre with the aim of achieving separate or combined license agreements, to provide advisory services to Amneal in the development of a budesonide/formoterol product in ICOres, and to further develop the intranasal semaglutide project up to preclinical proof-of-concept. The Rights Issue is conditional upon approval by an extraordinary general meeting in the Company, scheduled to be held on May 12, 2025. The Rights Issue is covered to 100 percent through subscription intentions, subscription commitments, and guarantee commitments. The notice to the extraordinary general meeting will be published through a separate press release. Due to the Rights Issue, the Board of Directors has decided to postpone the annual general meeting to June 9, 2025.

Iconovo AB (publ), a leading company in the development of inhalable drugs based on proprietary inhalers and dry powder formulations, today announces that the company is planning an organizational change that is expected to reduce the cost base by approximately SEK 14–16 million on an annual basis from the third quarter of 2025. The background is that the demand for internal resources in product development has decreased following the successful development of the company's five inhaler platforms. Iconovo will now focus on the commercialization of its existing products, including ICOpre®-based generic versions of Ellipta® pharmaceuticals, and on the development of semaglutide-based pharmaceuticals in ICOone® Nasal.

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.