Dry powder inhaler specialist Iconovo announced that the company has received a SEK 680,000 grant from the EU’s Innowwide program that will fund a market study as part of Iconovo’s plans to expand into the South Korean market. According to the company, the goal would initially be to attract South Korean customers for Iconovo’s CDMO business and eventually licensing or sales of the company’s line of DPIs, which includes the ICOone and ICOone Nasal devices.
As part of its efforts to expand its CDMO business, which includes formulation development, Iconovo recently hired OINDP expert Gary Pitcairn to support DPI development projects, particularly reformulation of APIs for inhaled delivery.
Iconovo CEO Johan Wäborg commented, “Our contacts with South Korean companies show great interest and potential for the development of inhaled drugs. The grant from Innowwide now gives us the opportunity to establish ourselves in one of the world’s most interesting markets for drug development in a structured way. At the same time, it is a stamp of quality on Iconovo’s global expansion strategy.”
Read the Iconovo press release.
