Bifogade filer
Iconovo terminates all agreements with ISR Immune System Regulation AB and reclaims the intellectual property rights to ICOone®
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Iconovo today announce that the company has terminated all agreements with ISR Immune System Regulation AB ("ISR") due to ISR's failure to meet its payment obligations and its submission of a bankruptcy application on September 11. The parties began collaborating in April 2021 on the development of a COVID-19 vaccine based on the ICOone® inhaler platform. The collaboration has generated revenue for Iconovo totaling approximately SEK 18 million, and Iconovo has already written off the company's remaining claims against ISR in 2022 and 2023. Therefore, today's announcement will have no further impact on Iconovo's financial position or results. Iconovo is now reclaiming all intellectual property rights to ICOone® and is expected to recover approximately SEK 2.7 million in VAT if ISR is declared bankrupt.
Iconovo is involved in several collaborative projects based on the ICOone® platform, including a project with the Bill & Melinda Gates Foundation aimed at developing new inhalation treatments in preparation for the next viral pandemic. The company is also collaborating with Monash University, which is developing a preventive treatment for postpartum hemorrhages based on the drug substance oxytocin. Additionally, ICOone® is being used by the French company Affilogic in the development of an antiviral drug.
Abot ICOone
ICOone is a unique and patented dry powder inhaler designed for single-use. Its smart design offers ultra-low manufacturing costs combined with simple and intuitive use. It is particularly suitable for short-term treatments and infrequent dosing therapies. ICOone can deliver large inhalation doses with excellent moisture protection, which is crucial for many biomolecules. The simple design also allows patients and healthcare providers to quickly learn how to use the inhaler with minimal training. ICOone is available in versions for both lung inhalation and intranasal administration.