Iconovo AB (publ), which develops complete inhalation products for a global market, today announces that it has made progress towards an out-licensing of its proprietary pre-filled inhaler ICOpre® by launching the outreach phase. In late May, Iconovo appointed the global investment bank Stifel to manage a structured process to maximize the commercial value of a future agreement. The process is proceeding well and several international pharmaceutical companies have now entered into confidential disclosure agreements to evaluate the inhaler platform.
“Based on the interest for ICOpre shown by several international pharma companies, we are now launching the outreach phase of the out-licensing process that was recently initiated. I am confident that the strong and professional support from the well-renowned investment bank Stifel will help maximize the value of potential future license agreements," says Johan Wäborg, CEO of Iconovo.
The project has already gained great interest. Now is a good time to accelerate the licensing process as Iconovo recently finalized the interaction with the FDA regarding the requirements to make ICOpre interchangeable with Ellipta in the US.
ICOpre® is a pre-filled inhaler that can be adapted to any type of inhalation powder. The device is designed to have the same convenience and patient handling as the Ellipta inhaler from GSK, opening for interchangeability. ICOpre® can be loaded with up to three different drug substances for simultaneous inhalation. ICOpre® is based on a unique, patent-pending principle that minimizes the risk of infringement of other inhalers' intellectual property rights. Global sales of inhaled medicines in the Ellipta portfolio amounted to approximately USD 4.5 billion in 2022.
The out-licensing process for ICOpre® is expected to be completed in the first half of 2024, and ICOpre® is well placed to become the first generic challenger to Ellipta in both the EU and the US. The first launch opportunity in the portfolio is expected to be for a generic version of Relvar in 2027.
About Iconovo AB
Iconovo (Nasdaq First North Growth Market: ICO) develops new inhaled medicinal products in collaboration with international pharmaceutical companies. The company provides several types of patent-protected inhalers that can generate significant commercial opportunities in the development of novel pharmaceuticals and vaccines and at patent expirations for established pharmaceuticals. The most advanced project is a generic version of the asthma and COPD product Symbicort® which is expected to reach the market in 2025. Iconovo plans to market this product in the Nordic region through its subsidiary Iconovo Pharma, while the company's partner Amneal Pharmaceuticals has the rights in other parts of Europe and the United States. Certified Adviser is Erik Penser Bank AB, Box 7405, SE-103 91 Stockholm (+46 8 463 80 00, firstname.lastname@example.org).
Stifel Nicolaus Europe Limited (“Stifel”) is authorised and regulated in the United Kingdom by the FCA. Stifel is acting exclusively for Iconovo and no one else in connection with the matters referred to in this document and will not be responsible to anyone other than Iconovo for providing the protections afforded to clients of Stifel nor for providing advice in relation to any transaction or other matter referred to in this document. Neither Stifel nor any of its affiliates (nor their respective directors, officers, employees or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Stifel in connection with this document, or any transaction referred to in this document. No representation or warranty, express or implied, is made by Stifel as to the contents of this document.