iCo-007 for Diffuse Diabetic Macular Edema to be Presented at Retinal Physician Symposium 2010

VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to announce that the Company’s Phase I clinical trial study employing iCo-007 in Diffuse Diabetic Macular Edema (“DME”) will be highlighted in a presentation at the Retinal Physician Symposium 2010. iCo expects to release final results of its Phase I study later in Q2 2010.

The presentation will be made by David S. Boyer, MD and is currently planned for 9:00 am EST on Friday, April 23, 2010 at the Atlantis Paradise Island Resort in the Bahamas and will feature prominent scientists, clinicians and healthcare experts in retina care presenting new therapies and treatment strategies for retinal diseases. Dr. Boyer will highlight previously disclosed data from the iCo-007 Phase I open label study.

Dr. Boyer is a practising ophthalmologist who specializes in the treatment of diseases of the retina and vitreous. He is a Senior Partner at the Retina-Vitreous Associates Medical Group and a Clinical Associate Professor at the University of Southern California. He also has an extensive research background involving trials for age-related macular degeneration, diabetic retinopathy, and cytomegalovirus retinitis. Dr. Boyer has been on the advisory boards for Alcon, Novartis, Eyetech/Pfizer, Genentech, Neurotech and the Macular Degeneration Partnership and is a reviewer for several ophthalmology and diabetes medical publications including Archives of Ophthalmology, American Journal of Ophthalmology, Diabetes Care, and Ophthalmology.

About iCo-007

Designed and discovered by ISIS Pharmaceuticals Inc., (NASDAQ: ISIS), iCo-007 is a second-generation antisense drug targeting c-Raf kinase for the treatment of DME and diabetic retinopathy.

The primary endpoint of the Company’s open label, dose escalating Phase I trial is safety, with visual acuity and measures of retinal thickness serving as secondary endpoints. Four U.S. clinical sites participated.

About iCo Therapeutics

iCo Therapeutics Inc. is a Vancouver-based reprofiling company focused on redosing or reformulating drugs with clinical history for new or expanded indications. iCo has exclusive worldwide rights to three products: iCo-007, in Phase I for the treatment of DME, iCo-008; a product with Phase II clinical history to be developed for severe ocular allergies; and iCo-009, an oral formulation of Amphotericin B for sight and life-threatening diseases. iCo-009 also represents a new drug delivery technology with the potential to reprofile other parenteral administered drugs to the oral route of administration. iCo was recently awarded a Gold Leaf Award as the Early Stage Company of the Year from BIOTECanada and trades on the TSX-Venture exchange under the symbol “ICO”. For more information, visit the company website at: icotherapeutics.cdmail.biz

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.