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Iconovo terminates all agreements with ISR Immune System Regulation AB and reclaims the intellectual property rights to ICOone®

MAR

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.

Contacts

Johan Wäborg, CEO
+46 707 78 51 71
johan.waborg@iconovo.se

About Iconovo

Iconovo (Nasdaq First North Growth Market: ICO) develops new inhaled medicinal products in collaboration with international pharmaceutical companies. The company provides several types of patent-protected inhalers that can generate significant commercial opportunities in the development of novel pharmaceuticals and vaccines and at patent expirations for established pharmaceuticals. The most advanced project is a generic version of the asthma and COPD product Symbicort® which is expected to reach the market in 2025. Iconovo plans to market this product in the Nordic region through its subsidiary Iconovo Pharma, while the company's partner Amneal Pharmaceuticals has the rights in other parts of Europe and the United States. Certified Adviser is Carnegie Investment Bank AB (publ).

This information is information that Iconovo is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-09-13 12:41 CEST.

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Iconovo terminates all agreements with ISR Immune System Regulation AB and reclaims the intellectual property rights to ICOone®

Datum 2024-09-13, kl 12:41
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Iconovo terminates all agreements with ISR Immune System Regulation AB and reclaims the intellectual property rights to ICOone®
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