Iconovo raises €2.3 Million in new capital, looks to expand its product offering.

Sweden Investments 21 June 2017
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Iconovo, a Lund, Sweden-based company manufacturing inhalation devices, announced raising €2.3M ($2.6M) in new equity funding. The name of the investors remains undisclosed.

Iconovo, led by CEO Orest Lastow, was founded in 2013 by two key individuals from Zenit Medical (AstraZeneca). The company has since developed concepts and manufactured a family of innovative inhalation devices and now is working to create technical solutions for inhalation of medications, which gives them a unique position in the market.

The new capital will be used to expand Iconovo’s offering to also include drug development, as Iconovo will offer development of a complete pharmaceutical product consisting of both inhaler and drug formulation.