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Investor Relations

Press Release

World-Renowned Retinal Specialist joins iCo Therapeutics’ Strategic Advisory Team

March 2, 2006

iCo Therapeutics Inc. announced today that Dr. Alan Bird has joined iCo’s Strategic Advisory Team. A pioneer in ophthalmic research, teaching and clinical medicine, Dr. Bird’s contributions to the field of retinal disease have met with worldwide acclaim.

“We are thrilled to have such a respected advisor on our team,” said Andrew Rae, iCo President and CEO. “His knowledge and experience will be invaluable as we continue to seek out and license cutting-edge products to build our ophthalmology portfolio.” Dr. Bird’s esteemed career began at Moorfield’s Eye Hospital in London, England where his contributions to the treatment of retinal vascular disease and genetic & degenerative retinal disorders were at the forefront of the field. From Moorfield’s, his academic career took him to the Bascom Palmer Eye Institute and Jules Stein Eye Center in the United States. He returned to London and spent the majority of his career at the Institute of Ophthalmology at University College London and Moorfield’s Eye Hospital where, in collaboration with Professor Shomi Bhattacharya, Dr. Bird identified numerous eye disease genes and cemented the standing of the of the University College London and Moorfield’s Eye Hospital as one of the top eye research and care centers worldwide. Dr. Bird also spent time in Africa undertaking research into river blindness, where his work led to the establishment of Ivermectin as the treatment of choice for this disease.

Dr. Bird’s expertise has been widely sought after and he has made strategic contributions to the US National Eye Institute, the UK Medical Research Council, the Wellcome Trust, INSERM and Deutsche Forschungsgemeinschaft. He has also played a key role in the design and evaluation of numerous clinical trials involving ground-breaking treatments in retinal disease today. Most recently, Dr. Bird chaired the Independent Data Safety and Monitoring Committee for the pegaptanib pivotal trial for age-related macular degeneration.

“iCo’s business model of developing pre-existing drugs for diseases of the eye has significant potential,” said Dr. Bird. “I look forward to helping with the clinical trial design of these products, beginning with the antisense compound iCo 007.”

Dr. Bird is a Fellow of the UK National Academy of Medical Science and has received a number of prestigious awards in vision science and ophthalmology, including the Alcon Research Award, The Helen Keller Prize, the Kayser Award, and the Jules Francois Medal. In 2006, he was honored with the lifetime achievement award by the Macular Society.

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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