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Beanstalk Capital Ltd. enters into arrangement agreement with iCo Therapeutics Inc.
Date:10/16/2007

,625

Warrants

Currently outstanding 89,286

Issued pursuant to Beanstalk private placement 919,643

Issued to Canaccord 220,714

Issued to iCo warrantholders 1,638,708

---------------------------- ---------

Total 2,868,351

Options

Currently outstanding 216,071

Issued to iCo optionholders 1,290,000

--------------------------- ---------

Total 1,506,071

Fully Diluted 22,001,047

Under the terms of the Arrangement Agreement, iCo may complete an equity financing of up to US$1,000,000 (the "iCo Private Placement") prior to the closing of the Arrangement. The above numbers do not reflect any additional securities that iCo may issue pursuant to the iCo Private Placement.

Information About iCo

iCo, which is a Vancouver-based company incorporated under the federal laws of Canada, is an emerging biotechnology company focussed on the identification, development and commercialization of drug candidates that treat ocular indications through a development-only business model.

iCo's strategy is to in-license drug candidates that have clinical or pre-clinical history and compelling evidence of scientific, clinical and commercial potential in ocular indications. iCo assumes the clinical, regulatory and commercial development activities for its product candidates and advances them along the regulatory and clinical pathway toward commercial approval. iCo believes that this approach reduces the risk, time and cost of developing ocular therapeut
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SOURCE Beanstalk Capital Ltd.
Copyright©2007 PR Newswire.
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