2008 News Releases

iCo Therapeutics Appoints Mr. Noel Hall and Dr. Christian Fibiger to Board

July 8, 2008

VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to announce the addition of Mr. Noel Hall and Dr. Christian Fibiger to iCo's Board of Directors. Mr. Hall was most recently co-founder, President and Director of Aspreva Pharmaceuticals Corporation, which was acquired by the Galenica Group for $915M (USD) in January 2008. Dr. Fibiger was most recently Vice President and Global Head of Neuroscience for Amgen Inc. and, during his academic career, was one of the top 100 most cited scientists in neuroscience.

Noel Hall is currently a consultant to the life sciences industry and has approximately 25 years experience in the biotechnology industry, including as president of Aspreva Pharmaceuticals Corporation, which was acquired by the Galenica Group in January 2008. Prior to co-founding Aspreva in December 2001, Mr. Hall co-founded the life sciences practice of consulting firm Hill and Knowlton in 1995 and served as head of global strategic planning for the firm's worldwide pharmaceutical consulting practice. From 1992 to 1995, Mr. Hall was the director of corporate affairs for the United Kingdom and Northern Europe for The Wellcome Foundation Ltd., which is now part of GlaxoSmithKline PLC. From 1985 to 1990, Mr. Hall worked in market development with Abbott Laboratories Ltd. and from 1983 to 1985 Mr. Hall was a regional sales manager with Leo Laboratories Ltd. Mr. Hall holds a BSc in Medical Laboratory Science from London University.

Dr. Fibiger is currently a consultant to the life sciences industry. Dr. Fibiger served as Vice President and Global Head of Neuroscience for Amgen Inc. from October 2003 to July 2007. Prior to joining Amgen, Dr. Fibiger served as Vice President of Neuroscience Discovery Research and Clinical Investigation for Eli Lilly and Company. Before joining Eli Lilly in 1998, Dr. Fibiger served as Professor and Head of the Division of Neurological Sciences and Chair of the University Graduate Program in Neuroscience at UBC. Dr. Fibiger has received numerous honours for his research contributions, including the Clark Institute Prize in Psychiatry, the Heinz Lehmann Award of the Canadian College of Neuropsychopharmacology, the Killam Research Prize, the Gold Medal in Health Sciences from the Science Council of British Columbia and the Tanenbaum Distinguished Scientist Award in Schizophrenia Research, and is a Fellow of the American College of Neuropsychopharmacology. Dr. Fibiger received his B.Sc. in Chemistry and Psychology from the University of Victoria in 1966 and his Ph.D. in Psychopharmacology from Princeton University in 1970.

"Chris and Noel are globally recognized figures in our biopharmaceutical industry and represent significant additions to iCo's Board of Directors," said Andrew Rae, President & CEO of iCo Therapeutics. "Both gentlemen markedly increase connectivity with potential biopharmaceutical partners and the capital markets, as well as iCo's collective scientific and clinical/regulatory acumen."

Mr. Hall and Dr. Fibiger join the following Board members:
• Richard Barker, DPhil, BA -Director General of the Association of the British Pharmaceutical Industry
• William Jarosz, JD - Partner, Cartesian Capital Group, LLC, former Managing Director and General Counsel of AIG Capital Partners
• Andrew J. Rae, MBA - President and CEO of iCo Therapeutics
• John G. Clement, Ph.D. - Chief Technical & Development Officer of iCo Therapeutics

The Board would like to thank Sidney Himmel for his service as Chairman of the Board. Mr. Himmel is stepping down from the Board in order to focus on the development of Trigon Uranium Corp. In conjunction with iCo Therapeutics' Board renewal, Mr. William Jarosz has agreed to become Chairman, replacing Mr. Himmel.

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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