Iconovo launch Accelerator Program
Iconovo has chosen to launch an Accelerator Program to facilitate the opportunities for the company’s customers to obtain EU funding for the development of novel pharmaceuticals. The programme is made possible through a collaboration with the consulting company Argentum, which specialises in structuring and managing application processes for EU funding. BioStock contacted Måns Österberg, Director Alliance Management at Iconovo, to learn more about the initiative.
Iconovo develops complete inhalation products based on the company’s proprietary inhalers. The company focuses on three business areas, one of which is the development of novel pharmaceuticals. Iconovo has already established four collaboration agreements with research pharmaceutical companies in this area.
Launch of Iconovo Accelerator Program
According to Iconovo, many of the customers request support in their application processes to obtain EU funding for the development of new inhalation treatments. Therefore, the company is now launching the Iconovo Accelerator Program, a structured way for pharmaceutical companies to obtain non-dilutive funding.
Through the program, Iconovo offer customers strategic and operational support in connection with application processes for public funding of innovative development projects that are based on the company’s inhaler platforms. The programme is being implemented in cooperation with the consultancy firm Argentum, which since 1999 has helped secure research and development funding of approximately 2 billion SEK for customers.
Benefits for both the customers and Iconovo
Together with Argentum, Iconovo has the expertise to optimise the opportunities to benefit from the substantial research grants awarded each year by the EU. The purpose of the program is to help customers obtain financing faster, while Iconovo gets the opportunity to increase its revenues by collaborating with companies with strengthened financing capacity and increased chance of implementing their project efficiently.
Interview with Director Alliance Management
Måns Österberg, Director Alliance Management at Iconovo, tells us more about the benefits of the Iconovo Accelerator Program.
What benefits does the Accelerator Program bring to your customers?
1. The programme provides an opportunity to finance their development.
2. Iconovo has together with Argentum set up a process to apply for funding for projects based on Iconovo’s inhalers and inhalation expertise. For the customer, this means that they can use an already established process that is specifically designed for inhalation projects. This saves time and increases the chance of getting the application approved.
3. It also helps companies without inhalation experience by reducing the “activation energy” required to develop a product in a new therapeutic area.
»Iconovo has together with Argentum set up a process to apply for funding for projects based on Iconovo’s inhalers and inhalation expertise. For the customer, this means that they can use an already established process that is specifically designed for inhalation projects. This saves time and increases the chance of getting the application approved.«
Is this included for all your customers in the novel pharmaceuticals business area or is it an add-on service?
– It is included as a service for customers with projects where one of Iconovo’s inhaler platforms plays a significant role.
What criteria must the customer meet to be included in the program?
– The development project must be commercially interesting. One of Iconovo’s inhaler platforms must also be included as a substantial part of the project. In addition, the company should have funding secured to cover the parts of the project that are not covered by the research grant applied for.
– Only commercially interesting projects can be considered for the program.
What kind of EU funding are you focusing on?
– There are many different grants to apply for. Right now, we are focusing on the Eurostar programme where small consortia with two or more companies can apply together.
How does the Accelerator Program also benefit Iconovo?
– Above all, it means that commercially interesting projects are accelerated and not held up by financing difficulties. We also notice that companies that are new to inhalation products see opportunities to enter a new therapy area in an easier way, with lower risk. This allows us to find new customers and expand our market.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
