Swedish DPI company Iconovo has announced a licensing and development deal with generics manufacturer Amneal Pharmaceuticals for a generic dry powder asthma/COPD therapy delivered by Iconovo’s ICOres multidose DPI. According to the company, the deal includes an undisclosed upfront payment and “milestone payments in the mid-single digit Euro millions range.”
Iconovo CEO Orest Lastow commented, “This agreement is an important acknowledgment of our unique business model, as well as a recognition of our inhalers and our development capacity.”
The ICOres inhaler has dual reservoirs and can deliver 200-400 doses of mono or combination therapies, either carrier-based formulations or API only. In December 2012, Iconovo received a $350,000 grant for development of a different DPI, the ICOone disposable unit dose inhaler.
Iconovo is based at the SmiLe Incubator (formerly the Lund Life Science Incubator). SmiLe Incubator CEO Ebba Fåhraeus said, “Iconovo’s founders met when they worked together at AstraZeneca. They are now working together to create technical solutions for inhalers for medical use, which gives them a unique position in the market. We are extremely pleased about their success and I am proud that SmiLe can provide support to entrepreneurially-managed firms that have the ambition to grow in the international market.”
