The agreement is Iconovo's second that provides rights to use its inhalation product and confirms the suitability of the ICOone inhaler for vaccines, according to the company. Iconovo will develop an adjuvanted inhalation product with the goal of testing it in clinical trials targeted to start during the second half of 2021. ISR also receives an option to use its vaccination technology in ICOone for influenza, respiratory syncytial virus, and new strands of SARS-CoV-2 virus vaccines based on the same technology.

The agreement will include stepwise payments of an over $10 million technology access fee, set up as five increasing milestone payments over the development to market authorization. ISR will also pay Iconovo for the contract development of the inhalation product. The agreement will additionally give Iconovo low single-digit percentage royalties over a period of 14 years from launch.

Iconovo was founded in 2013 to develop inhalers and associated drug preparations used to treat asthma and chronic obstructive pulmonary disease (COPD).