http://www.icotherapeutics.com/index.php/site/index/ en johnson@icotherapeutics.com Copyright 2009 2009-12-11T17:25:51+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_provides_phase_1_dme_clinical_trial_update_and_phase_2_tri/ http://www.icotherapeutics.com/site/ico_therapeutics_provides_phase_1_dme_clinical_trial_update_and_phase_2_tri/#When:17:25:51Z For Immediate Release December 11, 2009 VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) iCo Therapeutics (“iCo”) is pleased to announce that its Phase 1 clinical trial of iCo-007, having enrolled all patients in four cohorts of increasing concentration (110ug, 350ug, 700ug, 1000ug), has to date demonstrated a positive safety profile. A Safety Evaluation Committee recently convened to review early data from the fourth and final cohort, which represented an approximately 10-fold increase in concentration from the first dosing level and concluded there were no drug-related serious adverse events. Based on the safety profile and additional encouraging data seen so far, iCo has now entered the planning stage for Phase 2 clinical studies. Stated Dr. David Boyer: “I am pleased with the results of the Phase I clinical trial to date. The Safety Evaluating Committee’s experience with iCo-007 indicates that the drug has been well tolerated by patients and there were no drug-related significant adverse events noted to date even at the highest dosing level. I look forward to working with iCo in the planning and design of Phase 2 trials for iCo-007”. In early Q1 2010 iCo expects a last patient visit (month six) followed by data lock and analysis. iCo expects to present final data in Q2 2010. The primary objective of the phase I, open-label, dose escalation study was to evaluate the safety and tolerability of a single intravitreal injection of iCo-007 in patients with diffuse DME. Secondary objectives included assessment of systemic pharmacokinetics, changes in retinal thickness using OCT measurements, and changes in visual acuity. “To move to completion of a clinical trial in the United States and to planning for our Phase 2 trials represents a major milestone for the company. Ophthalmology represents one of the most exciting arenas in drug development and partnering today and the retinal market remains underserved, particularly for those areas such as DME”, stated Andrew Rae, President and CEO. About Diffuse DME Currently, there are no approved therapeutics for DME, which affects approximately 1.6 million people in the U.S. alone. The underlying disease, Diabetes, is forecast to increase by almost 50% in the U.S. by 2025. DME is the swelling of the retina in diabetes patients due to leaking blood vessels within the macula, the central portion of the retina that is critical for daytime vision. Diffuse DME is caused by dilated retinal capillaries and it is typically more difficult to handle than focal DME. About iCo-007 Designed and discovered by ISIS Pharmaceuticals Inc., (NASDAQ: ISIS), iCo-007 is a second-generation antisense inhibitor targeting c-Raf kinase mRNA for the treatment of DME and Diabetic Retinopathy (DR). News 2009-12-11T17:25:51+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_completes_final_tranche_of_4000000_brokered_private_placem/ http://www.icotherapeutics.com/site/ico_therapeutics_completes_final_tranche_of_4000000_brokered_private_placem/#When:23:28:41Z For Immediate Release November 20, 2009 VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) (the “Company”) is pleased to announce that it has completed a previously announced $4,000,000 brokered private placement (the “Offering”) co-led by Loewen, Ondaatje, McCutcheon Limited and Versant Partners Inc. (collectively, the “Agents”). The Offering was completed in two tranches, with 6,000,000 common shares issued on October 29, 2009 and an additional 2,333,333 common shares issued on November 20, 2009. The shares were issued at a price of $0.48 per share, for aggregate gross proceeds of $4,000,000. As consideration for acting as agents, the Company paid the Agents an aggregate cash commission of 8% and granted the agents an aggregate of 333,334 compensation options (the “Compensation Options”). Each Compensation Option is exercisable for one common share at an exercise price of $0.60 for a period of 12 months from the date of issuance. The second tranche of the private placement is subject to final TSX Venture Exchange approval for filing. All securities issued pursuant to the second tranche of the private placement will be subject to a four-month hold period expiring on March 21, 2010. The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any United States state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. News 2009-11-20T23:28:41+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_completes_first_tranche_of_brokered_private_placement/ http://www.icotherapeutics.com/site/ico_therapeutics_completes_first_tranche_of_brokered_private_placement/#When:00:17:14Z PRESS RELEASE iCo Therapeutics Completes First Tranche of Brokered Private Placement For Immediate Release October 30, 2009 VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) (the “Company”) is pleased to announce that further to its press release issued October 20, 2009 announcing a $4,000,000 brokered private placement (the “Offering”) co-led by Loewen, Ondaatje, McCutcheon Limited and Versant Partners Inc. (collectively, the “Agents”), the Company has completed the first tranche of the Offering through the issuance of 6,000,000 common shares of Company (the “Shares”). The Shares were issued at a price of $0.48 per share for gross proceeds of $2,880,000. As consideration for acting as agents, the Company paid the Agents a cash commission of 8% of the gross proceeds of the first tranche of the Offering and granted the agents 240,000 compensation options (“Compensation Options”). Each Compensation Option is exercisable for one common share at an exercise price of $0.60 for a period of 12 months. The private placement is subject to final TSX Venture Exchange approval for filing. All securities issued pursuant to the first tranche of the private placement will be subject to a four-month hold period expiring on March 1, 2010. The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any United States state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About iCo Therapeutics 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 trades on the TSX Venture Exchange under the symbol “ICO”. For more information, visit the company website at: http://www.icotherapeutics.com 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. Finance Contact: Mr. John Meekison, CFO 604.602.9414 × 224 News 2009-10-31T00:17:14+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_announces_4000000_brokered_private_placement/ http://www.icotherapeutics.com/site/ico_therapeutics_announces_4000000_brokered_private_placement/#When:22:17:19Z VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) (“iCo” or the “Company”) is pleased to announce that Loewen, Ondaatje, McCutcheon Limited and Versant Partners Inc. (collectively, the “Agents”) have agreed to act as co-lead agents, on a “best efforts” basis, for a brokered private placement for up to 8,333,333 common shares of the Company (the “Shares”) at a price of $0.48 per Share (the “Offering”). If fully subscribed, the gross proceeds of the Offering will be $4,000,000. The Company intends to use the net proceeds for working capital and general corporate purposes. A cash commission of 8% of the gross proceeds of the Offering will be payable to the Agents. The Agents will also be entitled to receive that number of compensation options (“Compensation Options”) which is equal to 4% of the number of Shares sold under the Offering. Each Compensation Option will be exercisable into one common share at an exercise price of $0.60 for 12 months. The Offering is subject to standard closing conditions, including the Agents’ satisfactory due diligence and regulatory approval, including the approval of the TSX Venture Exchange. All securities issued under the private placement will be subject to a four month hold period. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any United States state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About iCo Therapeutics 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 trades on the TSX Venture exchange under the symbol “ICO”. For more information, visit the company website at: http://www.icotherapeutics.com 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: Dr. John Clement, CBO 778.688.0644 Finance Contact: Mr. John Meekison, CFO 604.602.9414 × 224 News 2009-10-20T22:17:19+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_signs_collaboration_agreement_with_the_consortium_for_para/ http://www.icotherapeutics.com/site/ico_therapeutics_signs_collaboration_agreement_with_the_consortium_for_para/#When:15:27:55Z VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to announce that the company has signed a collaboration development agreement with The Consortium for Parasitic Drug Development (CPDD) for the research and development of iCo’s oral drug delivery technology for the treatment of neglected diseases such as leishmaniasis and trypanosomiasis. Initial funding of USD $182,930 will be provided for formulation optimization for tropical conditions. “iCo Therapeutics, in partnership with CPDD and employing a proprietary drug delivery system licensed from the University of British Columbia, is committed to improving the health of millions afflicted with visceral leishmaniasis worldwide, ultimately saving thousands of lives”, stated Andrew Rae, President and CEO of iCo Therapeutics. “iCo is extremely pleased to acknowledge the support and assistance of CPDD in furthering iCo’s efforts in this area. We feel our collaboration creates a win-win situation for all parties involved.” The proprietary drug delivery technology allows iCo to reformulate select parenteral administered drugs for oral delivery with the goal of greatly improving access to care and expanding the targeted markets, while at the same time retaining all rights to iCo-009 and the significant anti-fungal and additional markets the drug may one day serve. “CPDD’s parasitic expertise and iCo’s drug development acumen are highly complementary”, stated Dr. Donald Buell, MD, an infectious disease expert and member of iCo’s Scientific Advisory Board, “This oral delivery technology has the potential to create a breakthrough in the treatment of neglected diseases.” iCo has demonstrated proof of concept of the delivery technology with Amphotericin B, a potent anti-fungal and anti-parasitic drug with over 50 years of clinical history. Amphotericin B is currently only available via intravenous formulations for the treatment of systemic fungal and parasitic infections, which can have safety issues including infusion-related side effects and potential kidney toxicity. In animal models, oral administration of iCo’s oral Amphotericin B has shown significant anti-fungal and anti-parasitic activity with no observable kidney toxicity as assessed histologically and by plasma creatinine concentrations. The oral drug delivery technology was invented by Drs. Kishor & Ellen Wasan at the University of British Columbia. (“UBC”). Dr. John Clement (iCo) and Dr. Kishor Wasan (UBC) are co-Principal Ivestigators on the project. About the Consortium for Parasitic Drug Development (CPDD) The CPDD is a Bill & Melinda Gates Foundation grantee, developing drugs for the treatment of neglected diseases. Since the year 2000, Richard R. Tidwell, Ph.D., the Director of CPDD, has been awarded $58.5 million from the Bill & Melinda Gates Foundation to develop new drugs to fight human African trypanosomiasis or HAT (sleeping sickness) and leishmaniasis, two neglected diseases that are infecting and killing millions of people in developing countries. For more information on the CPDD please visit their website at http://www.thecpdd.org/. About Visceral Leishmaniasis In addition to treating systemic fungal infections in the developed world, iCo’s oral drug delivery technology has the potential to be used in treating visceral leishmaniasis (VL), a parasite contracted by approximately 2 million people each year, with 12 million presently infected worldwide. If left untreated, VL can have a fatality rate of 100% within two years. Approximately 50,000 people die from VL each year. iCo and CPPD previously collaborated on a series of VL studies in which dosages of iCo’s oral Amphotericin B resulted in greater than 99% eradication of the parasitic infection associated with VL. News 2009-09-24T15:27:55+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_q2_2009_financial_results/ http://www.icotherapeutics.com/site/ico_therapeutics_q2_2009_financial_results/#When:17:26:50Z PRESS RELEASE iCo Therapeutics Q2 2009 Financial Results For Immediate Release August 21, 2009 VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) today reported financial results for the quarter ended June 30, 2009. Amounts, unless specified otherwise, are expressed in Canadian dollars and in accordance with Canadian Generally Accepted Accounting Principles (Canadian GAAP). Summary Q2 2009 Results We incurred a net and comprehensive loss of $556,886 for the three months ended June 30, 2009 compared to a net and comprehensive loss of $671,290 for the three months ended June 30 2008, representing a decrease of approximately $114,404. The decrease in our net and comprehensive loss was principally caused by a decrease in both research and development expenses and general and administrative expenses. Interest income for the three months ended June 30, 2009 was $621, compared to $4,646 for the three month period ending June 30, 2008, resulting in a decrease of $4,025. The lower interest income earned in the three month period ending June 30, 2009, as compared to the same period in 2008 was a result of smaller cash and short term investments balances held in our treasury in 2009 combined with lower interest rates. Research and development expenses were $280,116 for the three months ended June 30, 2009 compared to $365,276 for the three months ended June 30, 2008, representing a decrease of $85,160, primarily due to a reduction in personnel salaries and consultants’ fees. For the three months ended June 30, 2009 general and administrative expenses were $201,940 compared to $243,742 for the three months ending June 30, 2008, representing a decrease of $41,802. This decrease in the three months ending June 30, 2009 compared to the three months ending June 30, 2008 were attributable to decreases in personnel salaries and professional fees. Amortization for the three months ended June 30, 2009 was $28,825 compared to amortization of $28,792 for the three months ended June 30, 2008, an increase of $33. Amortization for the six months ended June 30, 209 was $57,764 compared to amortization of $57,957 for the six months ended June 30, 2008, an increase of $193. Foreign exchange loss for the three months ended June 30, 2009 was $8,918 compared to foreign exchange gain of $7,673 for the same period in 2008, representing a decrease of $16,591. Foreign exchange loss for the six months ended June 30, 2009 was $27,070 compared to foreign exchange gain of $8,632 for the same period in 2008, representing a decrease of $35,702. Stock based compensation for the three months ended June 30, 2009 was $37,708 compared to $45,799 for the three months ended June 30, 2008, a decrease of $8,091. Stock based compensation for the six months ended June 30, 2009 was $72,294 compared to $91,771 for the six months ended June 30, 2008, a decrease of $19,477. Liquidity and Outstanding Share Capital As at June 30, 2009, we had cash and cash equivalents of $781,488 compared to $620,276 as at December 31, 2008. Surplus cash is invested in redeemable, short-term money market investments. As at June 30, 2009, the Company had working capital of $464,390 compared to $234,196 as at December 31, 2008. We anticipate that the combination of our current cash on hand, plus our July 16, 2009 private placement financing whereby we raised an additional $475,000 in gross proceeds, will be sufficient to fund operations into the first quarter of 2010, at which time we will need to obtain additional cash resources through equity or debt financing or by selling or licensing our technology. As mentioned previously, we are also exploring near term strategies to facilitate the exercise of 3,143,750 outstanding warrants which would provide approximately $943,125 in gross proceeds to the Company. However our working capital position may not be sufficient enough to meet our business objectives in the event of unforeseen circumstances or a change in our strategic direction. As at August 21, 2009, we had an unlimited number of authorized common shares with 29,512,093 common shares issued and outstanding. For complete financial results, please see our filings at http://www.sedar.com. About iCo Therapeutics 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”. For more information, visit the company website at: http://www.icotherapeutics.com 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: Dr. John Clement, CBO 778.688.0644 Finance Contact: Mr. John Meekison, CFO 604.602.9414 × 224 Investor Relations Contact: Don Mosher B&D Capital Partners. 604.685.6465 News 2009-08-24T17:26:50+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_appoints_infectious_disease_md_to_scientific_advisory_boar/ http://www.icotherapeutics.com/site/ico_therapeutics_appoints_infectious_disease_md_to_scientific_advisory_boar/#When:17:05:44Z VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to announce the appointment of Donald N. Buell, M.D., to Chair the Scientific Advisory Board (SAB) committee overseeing the development of iCo-009, iCo’s oral Amphotericin B program for life-threatening fungal and parasitic diseases. Dr. Buell was most recently the Senior Medical Director at Astellas Pharma Inc, and has held positions in the Anti-infective Drugs Group at Pfizer, the Division of Oncology and Radiopharmaceutical Drug Products in the Center for Drugs and Biologics at the US Food and Drug Administration (FDA). Dr. Buell, with over 80 publications to his name, obtained his M.D. from Stanford University School of Medicine, Stanford, CA. Dr. Buell’s career highlights Dr. Buell has been involved at the medical director level in the filing of 10 primary or supplemental New Drug Applications (NDA’s), 8 of which have been approved, with 2 approvable but not pursued. The most recent (January 2008) are the approvals of Mycamine® (micafungin) for treatment of candidemia, disseminated candidiasis, peritonitis and abcesses. Earlier approvals were for esophageal candidiasis and prophylaxis of Candida infections in patients undergoing hematopoietic stem cell transplant. Other drugs approved after programs under his direction were fluconazole (Diflucan®), tacrolimus (Prograf®) and liposomal Amphotericin B (AmBisome®). “We are very pleased to have such a high caliber drug developer join iCo’s SAB,” stated Andrew Rae, iCo’s President & CEO. “Dr. Buell’s enviable track record, and his work on some of the leading anti-fungal agents such as Diflucan® and Ambisome®, gives us enormous confidence in his ability to successfully shepherd projects through the NDA process. We are looking forward to working with him and benefiting from his input and connectivity in the anti-fungal space as we advance iCo-009 into a clinical program.” About iCo-009 Amphotericin B is a highly potent agent with anti-fungal and anti-parasitic activity. Currently, only intravenous formulations are approved for treatment use. iCo-009 is an oral formulation of Amphotericin B. 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 shown significant antifungal activity with no observable kidney toxicity as assessed by plasma creatinine concentrations. Also recently published was significant iCo-009 activity in an animal model of Visceral Leishmaniasis. iCo-009 was developed by Drs. Kishor & Ellen Wasan at the University of British Columbia. Option Grant iCo’s Board of Directors have granted Dr. Buell stock options to purchase 25,000 common shares in the capital stock of the Company exercisable for a period of five years at a price of $0.40 per share. The share options vest one-third immediately upon the date of grant, one-third will vest 6 months from the date of grant and the final one-third of the options will vest 12 months from the date of grant. Following regulatory approval, the Company will have 1,218,928 remaining options available for grant under the 2009 stock option plan. News 2009-07-21T17:05:44+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_closes_non-brokered_private_placement/ http://www.icotherapeutics.com/site/ico_therapeutics_closes_non-brokered_private_placement/#When:20:08:30Z VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) (“iCo” or the “Company”) is pleased to announce that it has completed a non-brokered private placement in the amount of $475,000 through the issuance of 1,187,500 common shares in the capital of the Company at a subscription price of $0.40 per share. The Company intends to use the net proceeds for working capital and general corporate purposes. A finder’s fee of 7% will be payable to certain arm’s length third parties with respect to a portion of the private placement. All securities issued in the private placement are subject to a four month hold period. The private placement is subject to regulatory approval, including the approval of the TSX Venture Exchange. News 2009-07-16T20:08:30+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_diabetic_macular_edema_clinical_trial_update/ http://www.icotherapeutics.com/site/ico_therapeutics_diabetic_macular_edema_clinical_trial_update/#When:12:54:06Z VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) is pleased to report that the Safety Evaluation Committee for iCo’s ongoing iCo-007 clinical trial has approved the advancement of the trial into the fourth and final cohort. There have been no drug-related serious adverse events to date. Results from the first two cohorts have been presented at international ocular conferences by two leading investigators involved in the trial. The fourth cohort represents an approximately 10-fold increase in concentration from the first dosing level. The primary objective of the phase I, open-label, dose escalation study is to evaluate the safety and tolerability of a single intravitreal injection of iCo-007 in patients with diffuse Diabetic Macular Edema (DME). Secondary objectives include assessment of systemic pharmacokinetics, changes in retinal thickness using OCT measurements, and changes in visual acuity. About Diffuse DME DME is the swelling of the retina in diabetes patients due to leaking blood vessels within the macula, the central portion of the retina that is critical for daytime vision. Diffuse DME is caused by dilated retinal capillaries and it is typically more difficult to handle than focal DME. There are currently no approved therapeutics for DME, the leading cause of blindness in working age adults. DME affects approximately 1.6 million people in the U.S. alone, a number that is expected to grow as Diabetes is forecast to increase by almost 50% in the US by 2025. About iCo-007 Designed and discovered by ISIS Pharmaceuticals Inc., (NASDAQ: ISIS), iCo-007 is a second-generation antisense inhibitor targeting c-Raf kinase mRNA for the treatment of DME and Diabetic Retinopathy (DR). iCo licensed the worldwide exclusive rights to all therapeutic applications of iCo-007 from ISIS in 2005. DR and DME are characterized by new blood vessel growth and increased vascular permeability. Drug products that prevent the growth of new blood vessels and inhibit increased vascular permeability may have the potential to treat neovascular diseases, including diabetic retinopathy and diabetic macular edema. It is becoming more apparent that multiple growth factors are implicated in the etiology of diabetic macular edema and diabetic retinopathy and not only VEGF. News 2009-07-07T12:54:06+00:00 http://www.icotherapeutics.com/site/ico_therapeutics_publishes_review_of_diabetic_retinopathy_treatment/ http://www.icotherapeutics.com/site/ico_therapeutics_publishes_review_of_diabetic_retinopathy_treatment/#When:13:17:18Z VANCOUVER, Canada— iCo Therapeutics Inc. (TSX-V: ICO) today announced that iCo-007, iCo’s lead Diabetes Macular Edema candidate, has been featured in an article in the Journal of Diabetes Science and Technology, a peer-reviewed scientific e-journal. The article investigates the potential role of antisense drugs in the treatment of Diabetic Retinopathy (DR), a form of Diabetes-related blindness. DR affects over 5 million people in the United States alone. iCo-007 is under investigation in a Phase I clinical trial in patients with a subset of DR called Diabetic Macular Edema (DME). iCo-007 is a second-generation antisense drug discovered by Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) and licensed to iCo. Potential benefits of second-generation antisense drugs, like iCo-007, are expected to include an extended half-life, resulting in less frequent intravitreal drug administration, and a good safety profile. iCo-007 targets multiple growth factors in addition to VEGF. Multiple growth factors seem to play a critical role in the process of ocular angiogenesis and leakage. Reference iCo’s Chief Medical Officer, Chief Business Officer and Clinical Project Manager all participated as authors of the paper, titled “Antisense Oligonucleotide Therapy in Diabetic Retinopathy”. The article was published online on July 1st, 2009 and is available on the Journal of Diabetes Science and Technology’s website at http://www.journalofdst.org/. Authors P. Hnik, MD (1), D.S.Boyer, MD (2), L.R. Grillone, PhD (3), J.G. Clement, PhD (1), S.P. Henry, PhD (4), E.A.Green, BSB/M.(1) Author Affiliations 1: iCo Therapeutics Inc., Vancouver, British Columbia, Canada 2: Retina-Vitreous Associates Medical Group, Beverly Hills, California, USA 3: PharmaQuest Associates, LLC, Carlsbad, California, USA 4: Isis Pharmaceuticals, Inc., Carlsbad, California, USA News 2009-07-02T13:17:18+00:00