Iconovo, a Lund, Sweden-based developer of inhalers for drugs that treat conditions such as asthma and COPD, raised €2.3m in funding.
The name of the backers were not disclosed.
The company will use the funds to expand its offering to also include drug development.
Led by Orest Lastow, CEO, Iconovo is a developer of inhalers for medications to treat conditions such as asthma and COPD, vaccines and biologics.
The company, a member of SmiLe incubator in Medicon Village in Lund, Sweden, has already signed an agreement for a licensing deal and a product development project with Amneal Pharmaceuticals, New Jersey, USA, that produce and market generic drug products. The agreement includes an up-front payment and milestone payments in the mid-single digit Euro millions range.