Iconovo AB (publ), which develops complete inhalation products for a global market, today announces that the company has filed a broad patent application related to inhaled GLP-1 receptor agonists. This marks the first step in Iconovo’s new initiative to develop more convenient, reliable, and cost-effective treatments for obesity. Based on its proprietary inhalers, the company aims to license out selected products after the preclinical proof-of-concept stage. Inhaled GLP-1 addresses a rapidly growing market, expected to reach USD 90 billion in 2029.

The inhaled GLP-1 products will be developed in Iconovo’s proprietary inhalers, primarily as a treatment for obesity with the opportunity to include other metabolic diseases like type 2 diabetes, fatty liver disease, cardiovascular disease and sleep apnea. The investments required in the initial development phase are limited.

“As a leading inhalation company, with a range of fully developed inhaler platforms and the competence to formulate pharmaceutical compounds into powders, we are in a perfect position to take a step into reformulation of selected high-value products in areas where inhalation can offer significant patient benefits. We are very excited to take this important step towards the development of a next generation of patient-friendly GLP-1 treatments with sustained efficacy”, says Johan Wäborg, CEO of Iconovo.

Most of today’s GLP-1 treatments, like Zepbound® (Eli Lilly) and Wegovy® (Novo Nordisk), are administered via subcutaneous injection, which is considered both stress- and painful by many patients. Iconovo’s inhaled treatments would give patients access to an alternative that is pain-free, and much more convenient. Since it is not an injection, there would be no requirements for cold storage to ensure the treatment’s durability, making inhaled treatment more reliable and cost-effective.

At present there is one oral GLP-1 treatment on the market, and more are under development. So far, bioavailability has been a major challenge with only about 1% of the active drug reaching its target. Iconovo estimates that inhaled GLP-1 would reach efficacy levels comparable to injected treatments, making it potentially competitively advantageous to oral treatments.

The patent application for inhaled GLP-1 receptor agonists addresses a very large and rapidly growing market presently worth USD 35 billion with an expectancy to grow at an annual rate of 17% to USD 90 billion in 2029. (Source: GlobalData).

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 2024-05-15 13:50 CEST.

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Iconovo files patent application for inhaled GLP-1 products and initiates development of new obesity treatments

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