2008 News Releases

iCo Therapeutics Selected as Canada's Top 10TM Competition Winner

October 1, 2008

VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO), a reprofiling company focused on redosing or reformulating drugs with clinical history for new or expanded indications, is pleased to announce that iCo has been selected as one of Canada's Top 10™ Competition winners. Top 10™ winners are chosen by an independent expert panel of Canadian and U.S. venture capitalists. The panel can be viewed at http://www.topcanadiancompanies.ca/jury/ls_jury.html.

The competition showcases Canada's life sciences, cleantech and technology sectors. Working in partnership with Canadian Consulates in Boston, New York City, San Diego and San Francisco, winning companies will participate in targeted investment forums in each city, providing them with an opportunity to meet with Venture Capital investors who have expressed an active interest in financing these companies. Since its inception in 1999, competition alumni have secured more than $522M in venture capital financing. More information about the competition can be found at http://www.topcanadiancompanies.ca/.

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

No regulatory authority has approved or disapproved the content of this release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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.

 

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