iCo Therapeutics Inc. Announces Publication of Oral Amphotericin B (iCo 019) Phase 1 Safety Study Results in Prestigious Infectious Diseases Journal

Vancouver, British Columbia–(Newsfile Corp. – July 30, 2020) – iCo Therapeutics Inc. (TSXV: ICO) (OTCQB: ICOTF) (“iCo” or “the Company”) and its subsidiary, iCo Therapeutics Australia Pty Ltd., announced today the publication of results of their Oral Amphotericin B (iCo 019) Phase 1a Study in one of the leading infectious diseases journals, Antimicrobial Agents and Chemotherapy entitled “Phase I Clinical Study to evaluate the safety, tolerability, and pharmacokinetics of a novel oral amphotericin B formulation (ICO-019) in healthy human subjects”

Dr. Kishor M. Wasan, Director of Research at iCo Therapeutics Inc. and Adjunct Professor and Distinguished University Scholar in the Department of Urologic Sciences, Faculty of Medicine at the University of British Columbia, is the inventor of this technology and the senior author on this paper, along with co-authors Drs Peter Hnik and Ellen Wasan.

The publication of this paper represents an important milestone for the development of oral amphotericin B and reaffirms the scientific importance of this work,” states Dr. Wasan

The results of the Phase 1 clinical study revealed that iCo-19 has a long circulation time and systemic exposure without the gastrointestinal, liver, and kidney toxicities associated with parental administered amphotericin B products and reaffirmed the potential of iCo-19 as a new treatment strategy for a wide array of infectious diseases.

“The publication of results of our phase 1 clinical study precedes initiation of our phase 2 efficacy studies in the near future,” stated Chief Medical Officer and First Author, Dr Peter Hnik.

Details of this publication can be found at:

https://aac.asm.org/content/early/2020/07/15/AAC.01450-20

About iCo Therapeutics

iCo Therapeutics identifies existing development stage assets for use in underserved ocular and infectious diseases. Such assets may exhibit utility in non-ophthalmic conditions outside the Company’s core focus areas and if so, the Company will seek to capture further value via partnerships. iCo shares trade on the TSX Venture Exchange under the symbol “ICO” and on the OTCQB 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.

Forward-Looking Statements

Certain statements included in this press release may be considered “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. 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. Forward-looking statements in this press release include statements relating to the timing and completion of the Private Placement and the use of proceeds therefrom. All forward-looking statements are based on iCo’s current beliefs as well as assumptions made by and information currently available to iCo 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 are based only on information currently available to iCo and speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by iCo in its public securities filings and on its website, actual events may differ materially from current expectations. iCo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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