iCo Therapeutics Provides iCo-009 (Oral Amphotericin B) Pharmacokinetic Results

    VANCOUVER, Oct. 9 /CNW/ - iCo Therapeutics Inc. (TSX-V: ICO) is pleased
to announce a series of positive experiments investigating the systemic
bioavailability of amphotericin B following oral administration. iCo-009 is
iCo's oral formulation of Amphotericin B, a broad spectrum antifungal drug
which currently can only be delivered by intravenous (IV) infusion. Results
indicate that oral administration of iCo-009 results in blood levels that are
comparable to a known IV Amphotericin B product currently on the market.
    In both aspergillus fumigatus and candida albicans rat models, iCo-009
has shown significant antifungal activity with no observable kidney toxicity
as assessed by serum creatinine concentrations. Preclinical studies profiling
the tissue distribution of iCo-009 in the kidney, liver, spleen, lung, brain
and heart are currently underway.
    "These studies are encouraging as they help us gain further understanding
of the potential of iCo-009 and the underlying drug delivery technology,"
stated Andrew Rae, iCo's President & CEO. "To show comparable blood levels to
existing commercial versions of Amphotericin B, which are administered via IV
infusion, is exciting to us as there is a clear commercial and medical need
for an oral antifungal with the strength and breadth of action of
    iCo-009 was developed by Drs. Kishor & Ellen Wasan at the University of
British Columbia. iCo Therapeutics acquired the worldwide exclusive rights to
iCo-009 from UBC in May 2008.

    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, 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, an 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". For more information, visit the company
website at: 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.

    %SEDAR: 00024061E

For further information:

For further information: Business Development: Dr. John Clement, CBO,
(604) 602-9414 x 222; Finance Contact: Mr. John Meekison, CFO, (604) 602-9414
x 224; Investor, Media Contact: Frederica Bell, Corp. Dev't., (604) 602-9414 x
228; B&D Capital, Joanne Calverley, (604) 685-6465

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