Funding received from Swelife for the development of a new treatment for COPD and severe asthma
Arcede Pharma AB announces that a consortium consisting of Arcede Pharma, Iconovo and Lund University has received just over SEK 2 million from Swelife.
The project entitled "RCD405: New treatment paradigm for patients with COPD" receives a total of SEK 2 million to develop a dry powder formulation and an inhalation product based on the inhaler ICOone® for use in clinical phase I studies and to further characterize the mechanism of action of the drug candidate RCD405, which is intended for the treatment of COPD and severe asthma. The treatment is both bronchodilating and anti-inflammatory, which distinguishes it from the drugs available today. The dual mechanism of action has the potential to both provide a better effect and target the underlying disease.
The grant is a maximum contribution during the project period and is divided into funds amounting to 877 500 SEK to Arcede Pharma, 525 000 SEK to Iconovo and 623 150 SEK to Lund University. The project starts in April 2023 and runs until December 2024. Payments from Vinnova are made in installments to Arcede Pharma and is based on the actual consumption of funds and that certain milestones are reported to Vinnova as instructed. Preliminary payment dates and amounts are as follows:
- 2023-05-02 - 523 550 SEK
- 2023-08-01 - 523 550 SEK
- 2023-10-17 - 523 550 SEK
- 2024-01-30 - 63 750 SEK
- 2024-04-30 - 63 750 SEK
- 2024-08-06 - 63 750 SEK
- 2024-10-22 - 63 750 SEK
- 2025-02-11 - 200 000 SEK
The support granted to the consortium from Swelife will strengthen the ongoing collaboration and generate data that provides an increased understanding of RCD405 and its pharmacology, with the help of studies to be carried out by a research group led by Professor Arne Egesten at Lund University. The idea is that these data will contribute to improved dose predictions and thus facilitate the continued formulation work to be performed by Iconovo. The contribution from Swelife is also an external appreciation of the quality of the project. We look forward to continuing our local collaboration and further strengthening the development of RCD405, in the long-term contributing to improved treatment of COPD and asthma patients with a completely new and innovative type of therapy," says Mia Lundblad, CEO of Arcede Pharma.
The support is provided within the framework of the Collaboration project for better health, within the strategic innovation programs of Swelife and Medtech4Health with the aim of financing innovative and sustainable life science solutions.
About Swelife – for a competitive life science system in Sweden
Swelife supports collaboration between academia, business and healthcare with the goal of strengthening life science in Sweden and improving public health. It is a strategic innovation program that is financed by the government via the innovation agency Vinnova, the Energy Agency and the state research council for sustainable development, Formas, as well as by the program's participating parties. For more information, visit www.swelife.se
About Arcede Pharma
Arcede Pharma is aiming to provide improved treatments for chronic respiratory diseases through new, innovative and patent protected substances, thereby reducing suffering and ameliorating quality of life for patients. Chronic obstructive pulmonary disease (COPD) is a disease that has a substantial negative impact on patients and causes a lot of suffering. COPD is the third most common cause of death worldwide. For more information: www.arcedepharma.com
About ICOone®
ICOone® is a unique and patented dry powder inhaler intended for single use. The smart design provides an ultra-low manufacturing cost combined with simple and discrete use. It is particularly suitable for short-term treatments and infrequent dosing treatments as it provides an unprecedentedly low treatment cost for treatments with few doses. The simple design also allows patients and caregivers to learn how to operate the inhaler with minimal training. ICOone® can deliver large inhalation doses that are well protected from moisture, which is important for many biomolecules.
About Iconovo
Iconovo (Nasdaq First North Growth Market: ICO) develops new inhalation drugs in collaboration with international pharmaceutical companies. The company provides several types of patent-protected inhalers that can generate significant commercial opportunities during the development of completely new drugs and vaccines, as well as when patents expire for established drugs. The most advanced pharmaceutical project is a generic version of the asthma and COPD drug Symbicort®, which is expected to reach the market in 2024. Iconovo plans to market this product in the Nordics through its subsidiary Iconovo Pharma, while the company's partner Amneal Pharmaceuticals has the rights in other parts of Europe and in the United States. The company's Certified Adviser is Erik Penser Bank AB, Box 7405, SE-103 91 Stockholm (+46 8 463 80 00, [email protected]).
