Here is a summary of iNANOD's finances and funding:

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iNANOD's strategy is to develop drugs until the completion of clinical phase IIb (estimated by the end of 2028) and then license out the intellectual property rights (IPR) to an established Big Pharma company.

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Cost Overview

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Total costs (2023–2033): approx. NOK 402 million (includes R&D and operating costs).

Costs until 2029 (licensing/exit): approx. NOK 129 million.

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Planned funding until 2029: approx. NOK 135 million via the following:

• Soft funding: approx. NOK 35 million from EIC Pathfinder (2024) and Eurostars (2027).

• Private capital: approx. NOK 15 million from investors in (2023–2025).

• Venture capital: approx. NOK 80 million in two rounds:

  • Series A: approx. NOK 30 million (2025).

  • Series B: approx. NOK 50 million (2027).

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Cost Assumptions

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Employee salaries:

• Lean operation with only a CEO until 2025.

• From 2025: Expansion to five employees (incl. CSO, Head of Business Development & Licensing, Accounting and Finance).

• Additional two researchers upon transition to phase III.

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R&D consulting services:

• Costs related to consulting for assessment of clinical study results.

 

Patent costs:

• Costs for applications and prosecution/examination in Europe, USA, Canada, Japan, and six other major markets.

 

Funding services:

• Consulting for applications for soft funding.

 

Financial advisors:

• Fees for third-party advisors for capital raising and deal structuring.

• Possibility to avoid these costs if capital is raised directly from investors.

 

Legal costs:

• Legal advice and preparation of agreement documents for VC transactions and licensing/exit.

 

This lays the foundation for a balanced financial plan, which includes conservative estimates and a clear focus on minimizing fixed costs through outsourcing and strategic consulting.