iCo Therapeutics iCo-007 Second Cohort Results to be Presented at Cleveland Clinic Ocular Conference

VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to announce that preliminary results for the first two cohorts from the ongoing clinical trial for iCo’s Diabetic Macular Edema (DME) candidate, iCo-007, will be featured in a presentation at an important ocular conference.

The presentation will be given by Philip J. Rosenfeld, MD, PhD, Professor of Ophthalmology at the Bascom Palmer Eye Institute University of Miami Miller School of Medicine. Dr. Rosenfeld is an investigator participating in the Phase I clinical trial in DMEpatients. The primary endpoint of the open label, dose escalating trial is safety, with visual acuity and measures of retinal thickness serving as secondary endpoints.

The conference, “Innovations in Ophthalmology”, will be held from March 16th-19th, 2009 in Key Largo, Florida. The Cleveland Clinic conference will feature prominent ophthalmology experts discussing the prevention, diagnostics, and treatment of eye disease. Dr. Rosenfeld’s presentation is titled, “Anti-VEGF Therapy for Macular Edema”, and will be held on Wednesday March 18th during the “Current Management of Diabetic Retinopathy and Vein Occlusion” session.

About iCo-007
iCo-007 is expected to decrease swelling in the retina and related visual impairment by decreasing the signaling of multiple growth factors, including VEGF, IGF, bFGF, EPO and HGF that signal through the c-Raf kinase / MAP kinase pathway. iCo-007 may also be a potential treatment for certain oncology indications, as c-Raf kinase is the predominant Raf isoform responsible for regulating cellular growth in ovarian cancer. iCo-007 is an antisense drug discovered by Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) and licensed to iCo Therapeutics for the treatment of various eye diseases.

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: https://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.