Vancouver, British Columbia--(Newsfile Corp. - October 28, 2019) -  iCo Therapeutics Inc. (TSXV: ICO) (OTCQB: ICOTF) ("iCo" or "the Company") and its Australian subsidiary, iCo Therapeutics Pty Ltd., today announced several developments related to its wholly-owned oral Amphotericin B (Oral Amp B) asset and current marketing and partnering efforts.

Oral Amphotericin B ("Oral Amp B") Clinical Program:

Currently iCo and its partner contract research organizations ("CROs") expect dosing of the first full cohort of subjects this quarter.

iCo Management has engaged two CROs to run its second Australian Oral Amp B study. Linear Clinical Research's site in Perth Australia will manage recruitment of individuals to the Company's multi-ascending dose ("MAD") study of healthy subjects, in coordination with a second global CRO. Both parties had previously been involved in the Company's single dose escalation study in 2018. The Company then expects to transition into a head-to-head comparison of Oral Amp B versus fluconazole in vulvovaginal candidiasis ("VVC") on completion of its MAD clinical component. Sites involved in the second portion of iCo's ongoing studies are expected to be announced later in the quarter.

Also of significance, data supporting 2.5 year stability of the current lead formulation has been achieved. The Company believes this data provides additional differentiation for iCo-019 versus other Amphotericin B competition.

Marketing and Partnering Activities:

iCo will be holding meetings with prospective partners and investors during the following meetings:

AusBiotech 2019 (Melbourne Australia, October 30 - November 1, 2019), the premier Australian life sciences annual meeting.

ISOPT Clinical - The Retina Chapter (Valencia Spain, November 7 - November 9, 2019), The International Symposium on Ocular Pharmacology and Therapeutics.

BIO Europe (Hamburg Germany, November 10-November 13, 2019), Europe's key Fall 2019 life sciences partnering meeting.

iCo has also engaged Bello Capital Partners to assist the Company with a social media and marketing campaign. Bello has been paid $50,000 CDN to assist with these services.

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: .

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.

Contact:

Andrew Rae
Chief Executive Officer
iCo Therapeutics Inc.

1-778-772-7775 (c)

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