Investor Relations

Press Release

iCo Therapeutics iCo-007 Results to be Presented at Prestigious Ocular Conference

February 19, 2009

VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to announce that early results for iCo’s Diabetic Macular Edema (DME) candidate, iCo-007, will be highlighted in a presentation at a prominent ocular conference.

The presentation will be given by Geeta A. Lalwani, MD, Assistant Professor of Clinical Ophthalmology, Vitreoretinal Diseases and Surgery at the Bascom Palmer Eye Institute University of Miami Miller School of Medicine. The Bascom Palmer Eye Institute is one of the premier eye centres in the world, and one of the four U.S. sites conducting iCo’s ongoing iCo-007 clinical trial. Along with Philip Rosenfeld, MD, Dr. Lalwani is an investigator participating in the Phase I clinical trial in DME patients. 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, “Angiogenesis, Exudation and Degeneration 2009”, will be held on Saturday, February 21, 2009 at the Ritz-Carlton Key Biscayne. The conference will feature prominent scientists, clinicians and healthcare experts in neovascular diseases of the eye, including AMD and DME. Dr. Lalwani’s presentation will be held at 4:25pm.

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 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 Diabetic Macular Edema, iCo-008, a product with Phase II clinical history to be developed for severe ocular allergies, and iCo-009, a oral reformulation of Amphotericin B for sight and life – threatening diseases. iCo-009 also represents a new drug delivery technology with the potential to reprofile other parenterally administered drugs to the oral route of administration.

iCo Therapeutics trades on the TSX-Venture exchange under the symbol “ICO”.

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.

Business Development Contact:
Dr. John Clement, CBO
604.602.9414 × 222

Finance Contact:
Mr. John Meekison, CFO
604.602.9414 × 224

Investor Contact:
Frederica Bell, Director, Corporate Development
604.602.9414 × 228