Iconovo AB (publ) announced that the company has entered into an agreement to conduct a preclinical pharmacokinetic study with Danish rare lung disease company Kiox Pharma. This is a continuation of the collaboration between the companies that was announced in a press release on June 9th this year. The new agreement entails revenues of SEK 1.1 million for Iconovo, in addition to the SEK 0.5 million that the company has already received.

The project is based on a reformulation of an FDA approved drug substance in one of Iconovo's patented inhalers; ICOcap. The aim is to develop a new treatment for interstitial lung diseases. The pharmacokinetic study is a continuation of the feasibility study that Iconovo communicated on June 9th this year and brings the company an additional revenue of SEK 1.1 million.

The study will be conducted over three months in a preclinical model, after which the partners can enter into a license agreement that can generate additional revenue for Iconovo based on continued contract development work, milestones and royalty payments, or alternatively sales of inhalers.