VANCOUVER, Oct. 26, 2015 /CNW/ - iCo Therapeutics Inc. ("iCo" or "the Company") (TSX-V: ICO) (OTCQX: ICOTF) today announced that the company has engaged Corealis Pharma Inc. ("Corealis") a contract manufacturing organization, for analytical development, formulation optimization and scale-up of the amphotericin B oral delivery system. The preparation and regulatory filings for this program are expected to be completed in 2016, with Phase 1A study data available in 2017.
"This is a significant step in the advancement of the oral delivery platform," said Andrew Rae, President and CEO of iCo Therapeutics. "This work will support manufacturing for a first-in-human phase one clinical study."
"We are very excited to be working with Corealis on further development of Oral Amphotericin B and are optimistic in moving this technology forward to the clinic in due course," said Dr. Kishor Wasan, Dean of the College of Pharmacy and Nutrition at the University of Saskatchewan and Adjunct Professor and Distinguished University Scholar at the University of British Columbia.
iCo has also been building its intellectual property position around the Oral Amphotericin B asset. The company was issued composition of matter and use patents and management is aggressively pursuing further patent issuances in multiple jurisdictions as it moves towards the clinic.
About iCo Therapeutics
iCo Therapeutics in-licenses and redefines existing drug candidates or generics by employing reformulation and delivery technologies for new or expanded use indications. The Company holds worldwide rights to an oral drug delivery platform, with Oral Amphotericin B (Amp B) as the initial platform candidate, utilizing a known anti-fungal drug to treat life-threatening infectious diseases. iCo also has worldwide ophthalmic rights to iCo-008 is a monoclonal antibody targeting eotaxin-1. With Phase 2 clinical history, Bertilimumab (iCo-008) is candidate for the treatment of vernal or atopic keratoconjunctivitis and wet age-related macular degeneration. iCo-008 is in Phase 2 clinical studies with iCo's partner, Immune Pharmaceuticals. iCo trades on the TSX Venture Exchange under the symbol "ICO" and the OTCQX under the symbol "ICOTF". For more information, visit the Company website at: www.icotherapeutics.com.
No regulatory authority has approved or disapproved the content of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain information contained in this news release, including any information relating to the proposed transaction (the "Transaction") and each issuer's future financial or operating performance may be deemed "forward-looking". These statements relate to future events or future performance and reflect each issuer's expectations regarding the Transaction, and the future growth, results of operations, business prospects and opportunities of iCo, Diagnos and the combined company. These forward-looking statements also reflect each issuer's current internal projections, expectations or beliefs and are based on information currently available to iCo or Diagnos, respectively. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward looking information regarding completion of the Transaction are based include that iCo and Diagnos will be able to satisfy the conditions to the Transaction, that the required approvals will be obtained from the shareholders and optionholders of each issuer, as applicable, that all third party regulatory and governmental approvals to the Transaction will be obtained and all other conditions to completion of the Transaction will be satisfied or waived. Although iCo and Diagnos believe that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. iCo and Diagnos expressly disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
SOURCE iCo Therapeutics Inc.
For further information: Mr. John Meekison, CFO, iCo Therapeutics, 604-602-9414 x 224, firstname.lastname@example.org; Michael Moore, Investor Relations, NATIONAL Equicom, 858-886-7813, email@example.com