Mr. Andrew Rae reports

ICO THERAPEUTICS PROVIDES CORPORATE UPDATE, ANNOUNCES COMPLETION OF PHASE 1 RECRUITMENT

iCo Therapeutics Inc. has completed recruitment of all 32 subjects in the company's phase 1 oral Amphotericin B (oral Amp B) study.

Phase 1 oral Amp B clinical trial

The phase 1 Australian study is a randomized, double-masked, placebo-controlled, single-dose ascending study to assess the safety, tolerability and bioavailability of iCo-019 (oral Amphotericin B). Subjects were randomized into one of four cohorts dosed sequentially at 100 milligrams, 200 mg, 400 mg and 800 mg. Each cohort consisted of eight subjects where six subjects were randomized to receive the investigational product and two subjects were randomized to receive a placebo.

The safety profile for each subject dosed in each of the first three cohorts was reviewed by the safety review committee (SRC) before proceeding to a higher dose. With the conclusion of recruitment, safety will be assessed for all subjects in addition to pharmacokinetic profiles.

Amphotericin B is an approved drug for the treatment of fungal and parasitic conditions, but the current leading formulation is an intravenous infusion. iCo Therapeutics is developing a proprietary oral formulation to increase convenience and market application.

The company currently expects results from the phase 1 study in early July, 2018.

Phase 2 Bertilimumab trial

On May 15, 2018, the company's licensee announced positive phase 2 data for the treatment of moderate-to-extensive bullous pemphigoid. iCo Therapeutics is eligible to receive up to $32-million in potential future milestone payments.

About iCo Therapeutics Inc.

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 through partnerships, such as its partnership with Immune Pharmaceuticals, which is in several phase 2 studies involving iCo-008.

We seek Safe Harbor.