VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2010) - iCo Therapeutics Inc. (TSX VENTURE:ICO) is pleased to announce that Susan Koppy has agreed to spearhead the Company's iCo-007 out-licensing business development activities, supplementing the efforts of the executive team as the Company moves into Phase II clinical trials for iCo-007.
Based in San Francisco, California, Ms. Koppy is a senior pharmaceutical business development executive with over 20 years' experience in global biotechnology and pharmaceutical companies in the United States, Europe and Japan.
Most recently, she was Vice President of Corporate Development at Transcept Pharmaceuticals, Inc. where she successfully concluded a North American commercialization partnership with Purdue Pharmaceuticals valued at over $150 million. Ms. Koppy's prior positions include senior business development roles at Novartis Pharmaceuticals Corporation, Idenix Pharmaceuticals, Inc. and Applied Biosystems, Inc. where she led a number of successful transactions worth more than $1.1 billion.
"We are extremely pleased to have Susan join the iCo team," commented Andrew Rae, iCo's CEO. "Susan has a successful licensing track record at all levels of the biotechnology industry including large pharmaceutical, large biotechnology and smaller development companies. Her background, partnering accomplishments and industry connectivity will be extremely valuable to us as we head into this next phase of iCo's development."
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 DME, iCo-008; a product with Phase II clinical history to be developed for severe ocular allergies and age related macular degeneration; and iCo-009, an oral formulation of Amphotericin B for sight and life-threatening diseases. iCo-009 also represents a new drug delivery technology with the potential to reprofile other parenteral administered drugs to the oral route of administration. iCo was recently awarded a Gold Leaf Award as the Early Stage Company of the Year from BIOTECanada and trades on the TSX Venture Exchange under the symbol "ICO". For more information, visit the Company website at: www.icotherapeutics.com
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.
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