Date Closed

May 17, 2013

Lead Office

Vancouver

Value

3.40 Million CAD

On May 21, 2013,  iCo Therapeutics Inc. (iCo or the Company) announced that it had closed its previously announced overnight marketed offering (the "Offering").  Under the Offering 9,655,771 units ("Units") were priced at C$0.35 per Unit for aggregate gross proceeds of C$3,379,519.90.  Each Unit is comprised of one common share of the Company (a Common Share) and one common share purchase warrant (a Warrant).  Each Warrant entitles the holder to acquire one Common Share at a price of $0.40 per share for a period of 5 years following closing of the Offering.

The Units were issued pursuant to an agency agreement between the Company and Euro Pacific Canada Inc. (the Agent).  The Agent appointed a soliciting dealer group of other registered dealers including H.C. Wainwright & Co. LLC and Bloom Burton & Co. (together with the Agent, the "Selling Group") for the purpose of arranging the purchase of Units under the Offering.  H.C. Wainwright & Co. LLC acted as lead U.S. placement agent. The Selling Group received a cash commission equal to 8% of the gross proceeds of the Offering and that number of compensation warrants ("Compensation Warrants") which is equal to 5% of the number of Units issued under the Offering.  The Compensation Warrants have the same terms and conditions as the Warrants included in the Units.

iCo Therapeutics, headquartered in Vancouver, British Columbia, is a biotechnology company.

McCarthy Tétrault LLP represented iCo Therapeutics, the issuer, with a team led by Robin Mahood.