According to Swedish device developer Iconovo, the company has raised $1 million in venture capital that it will use for development of dry powder inhalation devices. The company also said that Lennart Holm, chairman of the board of BillerudKorsnäs AB, Nexam AB, and Vigmed AB has increased his equity share in Iconovo.
Since Iconovo was founded in 2013 by former Medicon Valley Inhalation Consortium CEO Orest Lastow, it has been developing DPIs that it plans to license to generic inhaled product manufacturers. Lastow commented, “This funding will take us to a level where we have injection molded prototypes with verified performance.”
