iCo Therapeutics Announces Changes to Board of Directors

December 24, 2015, Vancouver, Canada — iCo Therapeutics Inc. (“iCo” or “the Company”) (TSX-V: ICO) (OTCQX: ICOTF), today announced the appointment of Susan Koppy and John Meekison to iCo’s Board of Directors.

Ms. Koppy has more than 30 years of experience in marketing and business development in the bio-pharmaceutical industry in the U.S., Europe, and Japan. She has participated in the negotiation of numerous agreements with a multi-billion dollar aggregate commercial value and is a frequent speaker on business development issues in the industry. After 15 years working through progressive positions of responsibility in life sciences, Ms. Koppy joined Novartis Pharmaceuticals AG in Basel Switzerland in 2000 where she became the first woman on the global marketing management team. Between 2005 and 2008 she built and led strategy, business development and acquisition groups for Applied Biosystems, Inc., Idenix Pharmaceuticals and Transcept Pharmaceuticals where she successfully sourced and executed a major U.S. partnership with Purdue Pharmaceuticals. Ms. Koppy now consults with a variety of bio-pharmaceutical companies on business development strategy, search, and transactions in a broad variety of therapeutic areas both in- and out-licensing. She is a member of the National Association for Corporate Directors, Healthcare Businesswomen’s Association, and Licensing Executive Society.

Mr. Meekison, CPA, CMA, P.Log., CIM is a co-founder and has been CFO of iCo Therapeutics Inc. since February 2005. He is a former investment banker having worked at a number of investment firms including: Loewen Ondaatje McCutcheon; Haywood Securities; Dlouhy Merchant Group; and PI Financial Corp. As a financier, Mr. Meekison has raised equity capital for technology and biotechnology companies both in Canada and the United States. Mr. Meekison’s areas of expertise include: financial/treasury management, risk management, capital formation, corporate governance, mergers and acquisitions and business strategy. Mr. Meekison sits on the Board of Directors of Sojourn Ventures Inc. and Natcore Technology Inc. Mr. Meekison is a Chartered Professional Accountant, a Certified Investment Manager and Professional Logistician. He received his BA from the University of British Columbia.

As Ms. Koppy and Mr. Meekison join the Board of Directors, Doug Janzen and Noel Hall will step down, effective immediately. Mr. Janzen and Mr. Hall are thanked by the board and management for their service.

About iCo Therapeutics
iCo Therapeutics in-licenses and redefines existing drug candidates or generics by employing reformulation and delivery technologies for new or expanded use indications. The Company holds worldwide rights to an oral drug delivery platform, with Oral Amphotericin B (Amp B) as the initial platform candidate, utilizing a known anti-fungal drug to treat life-threatening infectious diseases. iCo also has worldwide rights to two drug candidates: iCo-007 is a second generation antisense drug candidate targeting C-Raf kinase and iCo-008 is a monoclonal antibody targeting eotaxin-1. With Phase 2 clinical history, Bertilimumab (iCo-008) is a candidate for the treatment of vernal or atopic keratoconjunctivitis and wet age-related macular degeneration. iCo-008 is in Phase 2 clinical studies with iCo’s partner, Immune Pharmaceuticals. iCo trades on the TSX Venture Exchange under the symbol “ICO” and the OTCQX under the symbol “ICOTF”. For more information, visit the Company website at: icotherapeutics.cdmail.biz.

No regulatory authority has approved or disapproved the content of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward Looking Statements
Certain statements included in this press release may be considered forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods. 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’s current beliefs as well as assumptions made by and information currently available to iCo 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 are based only on information currently available to iCo and speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by iCo in its public securities filings and on its website, actual events may differ materially from current expectations. iCo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Mr. John Meekison, CFO
iCo Therapeutics
604-602-9414 x 224