Swedish DPI developer Iconovo has announced that it will lay off about 10 employees as it switches its focus to commercialization of its existing dry powder inhalation platforms, including the ICOres reservoir-based DPI, the ICOpre generic version of Ellipta, and the ICOone single use device in both inhaled and nasal versions. Instead of continuing to do all development work in-house, the company said that it will contract out some work in the future.
Iconovo is working with Lonza on development of semaglutide formulations for delivery via the ICOone Nasal device, and with Amneal on a generic version of Symbicort budesonide / formoterol DPI delivered via the ICOres device. According to the company, it is currently discussing potential additional collaborations with several companies.
Iconovo CEO Johan Wäborg commented, “After successfully completing the development of all our inhaler platforms, including ICOpre, it is a natural step to continue adapting our organization for an increased focus on commercial activities. We will continue to have sufficient capacity for the development of intranasal semaglutide and to handle both existing and future collaborative projects with external parties. Unfortunately, the new focus means that we will have to lay off competent and valued employees, but we are convinced that it is a decision that in the long term increases the conditions for Iconovo-based pharmaceuticals to be able to make it all the way to the market and thus benefit patients all over the world.”
Read the Iconovo press release
