DPI device developer Iconovo AB announced that it has raised €.2.3 million in an oversubscribed share issue, which the company will use to fund expansion of its services to include drug formulation development.
As part of that expansion, Iconovo has recently moved into larger facilities at the SmiLe Business Incubator in Medicon Village, Lund, Sweden, to support the new services.
The company said that Amneal Pharmaceuticals has already signed a product development and licensing deal that “includes an upfront payment and milestone payments in the mid-single digit Euro millions range.”
Iconovo CEO Orest Lastow said, “Our customers have been requesting a complete pharmaceutical product for a long time. I’m delighted to now be able to offer our customers development of both inhaler and drug formulation.”
Read the Iconovo press release.
