Brief: Iconovo Signs Agreement With ISR For Development Of Inhaled COVID-19 Vaccine
31/03/2021 13:07
March 31 (Reuters) - Iconovo AB ICO.ST :
* ICONOVO SIGNS AGREEMENT WITH ISR FOR THE DEVELOPMENT OF
INHALED
COVID-19 VACCINE
* TODAY ANNOUNCED THAT IT HAS SIGNED AN AGREEMENT WITH
IMMUNOTHERAPY COMPANY IMMUNE SYSTEM REGULATION AB (ISR)
* AGREEMENT IS ICONOVO'S SECOND AGREEMENT WITHIN ITS NEWEST
STRATEGIC AREA INNOVATIVE INHALATION PROJECTS AND CONFIRMS
SUITABILITY OF ICOONE TO BE USED ALSO FOR VACCINES.
* AGREEMENT GIVES ISR EXCLUSIVE RIGHTS TO USE ICOONE FOR
TREATMENT
OF COVID-19 AND ITS VARIANTS WITH A TECHNOLOGY BASED ON
SO-CALLED SPIKE PROTEINS WITH AN ADJUVANT
* AGREEMENT INCLUDES STEPWISE PAYMENTS OF A 9 MSEK
TECHNOLOGY
ACCESS FEE, SET UP AS FIVE INCREASING MILESTONE PAYMENTS OVER
DEVELOPMENT TO MARKET AUTHORIZATION
* FIRST MILESTONE OF 0.2 MSEK WAS PAID AT AGREEMENT
SIGNATURE
* AGREEMENT WILL GIVE ICONOVO LOW SINGLE-DIGIT PERCENTAGE
ROYALTIES OVER A PERIOD OF 14 YEARS FROM MARKET LAUNCH.
* ISR WILL ALSO PAY ICONOVO FOR CONTRACT DEVELOPMENT OF
INHALATION
PRODUCT WHICH IN A FIRST BINDING FEASIBILITY TRIAL AMOUNTS TO
3.6 MSEK, FOLLOWED BY PRODUCTION OF CLINICAL TRIAL MATERIAL AT A
PRELIMINARY VALUE OF 5.5 MSEK
Source text for Eikon: ID:nMFN19KQsf
Further company coverage: ICO.ST
(Gdansk Newsroom)
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