October 9, 2008
VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to announce a series of positive experiments investigating the systemic bioavailability of amphotericin B following oral administration. iCo-009 is iCo’s oral formulation of Amphotericin B, a broad spectrum antifungal drug which currently can only be delivered by intravenous (IV) infusion. Results indicate that oral administration of iCo-009 results in blood levels that are comparable to a known IV Amphotericin B product currently on the market.
In both aspergillus fumigatus and candida albicans rat models, iCo-009 has shown significant antifungal activity with no observable kidney toxicity as assessed by serum creatinine concentrations. Preclinical studies profiling the tissue distribution of iCo-009 in the kidney, liver, spleen, lung, brain and heart are currently underway.
“These studies are encouraging as they help us gain further understanding of the potential of iCo-009 and the underlying drug delivery technology,” stated Andrew Rae, iCo’s President & CEO. “To show comparable blood levels to existing commercial versions of Amphotericin B, which are administered via IV infusion, is exciting to us as there is a clear commercial and medical need for an oral antifungal with the strength and breadth of action of Amphotericin.”
iCo-009 was developed by Drs. Kishor & Ellen Wasan at the University of British Columbia. iCo Therapeutics acquired the worldwide exclusive rights to iCo-009 from UBC in May 2008.
About iCo Therapeutics Inc.
iCo Therapeutics Inc. is a Vancouver-based development based company focused on in-licensing drugs with clinical history redosing or reformulating for new or expanded indications. iCo has exclusive worldwide rights to three products. iCo-007, a second generation antisense candidate licensed from Isis Pharmaceuticals, is currently in a Phase I trial in Diabetic Macular Edema patients with compelling early data. iCo-008 is a human monoclonal antibody targeting eotaxin-1 with Phase II clinical history, licensed from AstraZeneca/MedImmune. iCo-009 is a proprietary oral formulation of amphotericin B licensed from the University of British Columbia. To date, iCo has reported positive preclinical results for iCo-009. iCo Therapeutics trades on the TSX-Venture exchange under the symbol “ICO”. For more information, visit the company website at: http://www.icotherapeutics.com
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Forward Looking Statements
Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on iCo Therapeutics’ current beliefs as well as assumptions made by and information currently available to iCo Therapeutics and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by iCo Therapeutics in its public securities filings; actual events may differ materially from current expectations. iCo Therapeutics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.