Investor Relations

Press Release

iCo Therapeutics Oral Amphotericin B Poster at AAPS

November 18, 2008

VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to report that iCo-009, the company’s oral Amphotericin B program, has been accepted for a poster presentation at the American Association of Pharmaceutical Scientist (AAPS) Meeting in Atlanta, GA.

The poster, entitled, “Assessing the Antifungal Activity and Renal Toxicity of Amphotericin B Following the Administration of Novel Monoglyceride-based Oral Amphotericin B Formulations and Abelcet to Rats Infected with Aspergillus Fumigatus” (Poster # T2154), will be presented on Tuesday, November 18, 2008 from 8am-12pm.

The poster’s authors are Drs. Kishor Wasan, Pavel Gershkovich, Olena Sivak, Carlos Leon, Ellen Wasan, and Karen Bartlett.

About iCo-009
In animal models, oral administration of iCo-009 has been shown to result in blood levels that are comparable to a known IV Amphotericin B product currently on the market. In aspergillus fumigatus and candida albicans rat models, iCo-009 has also shown significant antifungal activity with no observable kidney toxicity as assessed by plasma creatinine concentrations. Administration of iCo-009 virtually eradicated a parasitic infection that causes Visceral Leishmaniasis (VL) in a mouse model of VL. iCo-009 was developed by Drs. Kishor & Ellen Wasan at the University of British Columbia. iCo Therapeutics acquired the worldwide exclusive rights to iCo-009 from UBC in May 2008.

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 is a second generation antisense candidate licensed from Isis Pharmaceuticals. iCo-007 is currently in a Phase I trial in Diabetic Macular Edema patients with compelling early data. iCo-008 is a human monoclonal antibody against eotaxin-1 with Phase II clinical history, licensed from AstraZeneca/MedImmune. iCo-009 is an oral reformulation of a generic anti-fungal and anti-parasitic intravenous drug 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”.

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
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Finance Contact:
Mr. John Meekison, CFO
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Investor Contact:
Frederica Bell, Director, Corporate Development
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