Iconovo AB (publ), which develops complete inhalation products for a global market, announces that it has regained the global rights to sell and distribute ICOcap® inhalers from Stevanato Group. Iconovo now aims to increase sales efforts pertaining to ICOcap®, and Stevanato Group will serve as the sole manufacturing partner. In conjunction with restructuring the agreement, Iconovo will receive a payment of EUR 200,000 during the third quarter to be used for the application for CE certification of ICOcap. The amended collaboration structure is expected to increase the company's future profit margin on products sold.
The new collaboration structure with Stevanato Group is part of Iconovo's strategy to establish an attractive end-to-end offer with contract development and formulation services, as well as direct sales of inhalers to end customers.
"Iconovo has evolved greatly in the last few years. We receive a lot of interest in ICOcap from companies developing original medicines and we have all the resources needed for contract development in our own labs. With our broad customer base, formulation expertise, and established infrastructure we are now much better positioned to manage the sales and marketing of ICOcap, making this a natural step forward for Iconovo" comments Johan Wäborg, CEO at Iconovo.
As part of the amended agreement, Iconovo will receive a payment of EUR 200,000 which will be used for an application for CE certification according to MDR (Medical Device Regulation), slated for late 2023/early 2024. In connection with this, Iconovo will adapt its medical device quality management system for the manufacturing and sales of medical devices.
ICOcap® is an inhaler for medicines in capsules that are loaded one at a time. It has a robust, unique grip-friendly design, a patented integrated lid, and low inhalation resistance. ICOcap® is available in two versions, with the same function and performance as the established inhalers Breezhaler® from Novartis and RS01 from RPC. A standardized version of ICOcap® is available off-the-shelf, and the inhaler can also be optimized to provide maximum product performance for a given drug substance.