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Investor Relations

Press Release

iCo Therapeutics Welcomes Dr. Jason Slakter to Strategic Advisory Board

June 28, 2006

VANCOUVER, Canada- iCo Therapeutics Inc. announced today that Dr. Jason Slakter will join its strategic advisory team. An internationally renowned retinal specialist, Dr. Slakter currently practices at the Vitreous-Retina-Macula Consultants in New York. He is a Clinical Professor of Ophthalmology at the New York University School of Medicine and an attending surgeon and Surgeon Director at the Manhattan Eye, Ear and Throat Hospital.

“We are pleased to have Dr. Slakter join our advisory team,” said Andrew Rae, iCoTherapeutics’ President and Chief Executive Officer. “His clinical experience and expertise in the development and application of a variety of diagnostic techniques adds impressive bench strength to our team.”

Dr. Slakter’s expertise in macular disease diagnostics is extensive. He has played a leading role and is widely published in the development of digital indocyanine green angiography (ICG) for the evaluation and management of macular degeneration and chorioretinal inflammatory disease. He created and is the director of the Digital Angiography Reading Center, which serves as a key resource for numerous industry-sponsored studies. He has served as a Principal Investigator in the clinical trials for photodynamic therapy for the treatment of wet AMD and is currently conducting clinical studies for the treatment of central serous chorioretinopathy.

Dr. Slakter is a member of numerous medical organizations including the Macula and Retina Societies, and the American Society of Retinal Specialists. He is the Editor-in-Chief of Retinal Physician, is on the editorial board of Retina and serves as a scientific reviewer for major scientific ophthalmic journals. He is the recipient of a number of awards including the American Academy of Ophthalmology Honor Award, the Macula Society’s Richard and Hinda Rosenthal Award, and the Helen Keller Manhattan League Award.

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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