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Icagen Terminates Phase III ASSERT Study

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Apr 3, 2007 - Icagen, Inc. (NASDAQ: ICGN) announced today that following a planned meeting of the independent Data Monitoring Committee ("DMC") of the Company's ASSERT trial of senicapoc (formerly ICA-17043) for the treatment of sickle cell disease in adults, the DMC recommended that the trial be terminated because of the low probability of achieving a reduction in crisis rate, the primary endpoint. In making their recommendation, the DMC noted that data from the trial indicated the expected increases in hemoglobin and hematocrit and decreases in reticulocytes as well as LDH and bilirubin, both markers of hemolysis. Among the available data, there were no statistically significant differences in safety measurements between the senicapoc and placebo treatment groups. The Company has informed the FDA of its plan to terminate the study based upon the DMC's recommendation. The Company will analyze final data when available and consider future options for the development of senicapoc.

About Icagen

Icagen, Inc. is a biopharmaceutical company based in Research Triangle Park, North Carolina, focused on the discovery, development and commercialization of novel orally-administered small molecule drugs that modulate ion channel targets. Utilizing its proprietary know-how and integrated scientific and drug development capabilities, Icagen has identified multiple drug candidates that modulate ion channels. The Company's four most advanced programs are: -0-

 - senicapoc for sickle cell disease, which is discussed above.

    Senicapoc is being co-developed under an agreement with the McNeil

    Pediatrics Division of McNeil-PPC, Inc., a subsidiary of Johnson &

    Johnson.

-0-
 - lead compounds for epilepsy and neuropathic pain, for which the

    Company is conducting preclinical studies;

-0-
- a lead compound for atrial fibril
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