Iconovo AB (publ), which develops complete inhalation products for a global market, today announces that the company strengthens its customer offering in the Novel Pharmaceuticals business segment by the launch of Iconovo Accelerator Program – a structured approach for pharmaceutical companies to obtain non-dilutive funding of commercially attractive projects. This is made possible through a newly established collaboration with the consulting firm Argentum, which specializes in structuring and managing application processes for EU funding and has so far helped secure over SEK 20 billion in research and development funding for its clients. The purpose of Iconovo Accelerator Program is to finance projects that are to a significant extent performed by Iconovo, which in turn can contribute to an increased earnings capacity for the company. Sales of medicines and vaccines for diseases where inhalers can provide significant benefits amount to almost USD 100 billion. Asthma, COPD, pulmonary hypertension and several types of vaccinations are some examples. Iconovo has already established four collaboration agreements in the Novel Pharmaceutical business segment, where it assists R&D-driven pharmaceutical companies in the development of completely new treatments based on the company's unique proprietary inhalers.
There are however challenges in financing new innovative pharmaceutical projects, and many smaller companies lack access to expertise that can optimize opportunities to benefit from the substantial research grants awarded each year by the EU. Iconovo Accelerator Program is launched to offer customers strategic and operational support in connection with application processes for public funding of projects that are based on the company's inhaler platforms.
"Many customers in our Novel Pharmaceuticals business segment request professional support in their processes for seeking EU funding to their development projects, and we are proud to have established a qualified process to accelerate the development of new inhalation products. By strengthening our customers' financing capacity, we enhance the conditions for implementing collaborative projects in a time-efficient and professional manner. This in turn has potential to increase our earnings capacity," says Johan Wäborg, CEO of Iconovo.
Argentum is a consultancy firm that specializes in optimizing the opportunities for its clients to obtain financial support for research projects from the EU. The company is part of the FreeMind Group, which has helped secure research and development funding of around EUR 2 billion for international clients since its inception in 1999.