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Iconovo completes a directed share issue of 75 million SEK

Johan

The Issue was subscribed for by several new Swedish and international institutional investors, such as Alcur Fonder, FE Fonder and Humle Fonder, as well as several existing owners, such as Andra AP-fonden, Fjärde AP-fonden, Handelsbanken Fonder and Länsförsäkringar Fondförvaltning AB.

The company intends to use the proceeds from the Issue for accelerating and value-creational development and initiatives connected to the company’s new long term strategy.

“Another approximately 40 per cent of the proceeds intends to be used for building and scaling up the company’s Nordic sales of pharmaceuticals through licencing of products to Iconovo Pharma.”

Approximately 40 per cent of the proceeds intends to be used to build a value-creating portfolio of projects within the strategic area Innovative inhalation products. Another approximately 40 per cent of the proceeds intends to be used for building and scaling up the company’s Nordic sales of pharmaceuticals through licencing of products to Iconovo Pharma.

Remaining share of the proceeds intends to be used for increasing the company’s project capacity, which would reduce the risk in the portfolio and increase the likelihood of launch of additional products to market, and increased commercialization connected to Iconovo’s three strategic focus areas (i) own sales of generic inhalation products in the Nordics, (ii) development of innovative inhalation products, and (iii) development of generic inhalation products, the company states in a press release.

Photo of Johan Wäborg, CEO, Iconovo