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Investor Relations

Press Release

iCo Therapeutics Announces Strategic Advisory Team

November 30, 2005

VANCOUVER, Canada—iCo Therapeutics Inc. announced today the company’s newly-formed Strategic Advisory Team. Team members Dr. Julia Levy, Dr. George Lasezkay and Richard Glickman will assist iCo’s management team and Board chart the company’s strategy for growth and development.

“We are extremely pleased to have such an esteemed group of science and business advisors helping us to achieve our goals,” said Andrew Rae, iCo President and CEO.

Dr. Julia Levy, co-founder and former President and CEO of QLT Inc., is currently Executive Chairman of the Scientific Advisory Board at QLT. Under Dr. Levy’s stewardship QLT rose to become one the leading biotech companies worldwide with the launch of Visudyne in 2000 to treat age-related macular degeneration. A former microbiology professor at the University of British Columbia and a Fellow of the Royal Society of Canada, Dr. Levy was selected Female Entrepreneur of the Year for International Business in 1998 by Canadian Business magazine, and appointed to the Order of Canada in 2001. She received a B.A. (Hon.) from the University of British Columbia and a Ph.D. in experimental pathology from the University of London.

Dr. Lasezkay is a principal in Turning Point Consultants, LLC, a consultancy group that advises life science companies on strategy and business development, and he is a former Corporate Vice President of Corporate Development at Allergan, a global ophthalmology pharmaceutical company. He also has extensive experience in hospital pharmacy practice, clinical pharmacokinetics consultation, drug research and pharmacy education. Dr. Lasezkay earned B.S. Pharmacy and Doctor of Pharmacy degrees from the State University of New York at Buffalo and a J.D. degree from the University of Southern California Law Center. He currently serves as a director of Valentis Inc., Collagenex Pharmaceuticals, Acuity Pharmaceuticals, Sucampo Pharmaceuticals, and Novagali Pharma, SA.

Mr. Richard Glickman is co-founder, CEO and Chairman of Aspreva Pharmaceuticals Corporation and has a successful track record raising capital for pharmaceutical and biopharmaceutical companies, including Stressgen Biotechnologies Corp., where he served as CEO. Mr. Glickman was the founder and director of Ontario Molecular Diagnostics, a former director of the Canadian Genetic Diseases Network and a co-founder of Probtec Corp. where, as vice-president he established and introduced Canada’s first licensed DNA-based forensic and paternity testing service. Mr. Glickman has received both Canada’s and British Columbia’s Top 40 under 40 Awards for entrepreneurs and was the Ernst & Young 2004 Entrepreneur of the Year recipient for Life Sciences.

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

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Investor & Media Contact

Frederica Bell, BSc, MBA
Director of Corporate Development
604.602.9414 office
778.385.2549 cell

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