Investor Relations

Press Release

iCo Therapeutics to Present at BIO InvestorForum in San Francisco

October 17, 2005

Vancouver, Canada – iCo Therapeutics Inc. announced today that Andrew Rae, iCo’s Chief Executive Officer, will present at the BIO InvestorForum to be held October 19-20th, 2005 in San Francisco, California. Approximately 190 public and venture-stage companies are slated to present at this conference which is being hosted by the Biotechnology Industry Organization.

Mr. Rae’s presentation will take place on October 20th, 2005 at 12:20pm PST in the Sea Cliff room at the Palace Hotel in San Francisco. For more information about the conference, visit the BIO InvestorForum website.

iCo seeks out and develops or modifies approved or near-approved therapies to treat a variety of conditions within isolated biological environments. Because the drugs have already been through extensive preclinical and clinical testing, and in some cases regulatory approval, development risk and time to commercialization is significantly decreased.

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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