iCo Therapeutics Inc (CVE:ICO) Reports No Material Change


iCo Therapeutics Inc (CVE:ICO) reported that at the request of IIROC they intend to confirm that they are unaware of any material change in firm’s operations resulting the recent volatility in market activity. The company identifies current development stage resources for application in underserved infectious and ocular diseases.

Such resources may show utility in non-ophthalmic problems outside the firm’s core focus regions and, if so, the firm will seek to capture further worth through associations, such as its association with Immune Pharmaceuticals, which is in numerous Phase 2 trials involving iCo-008. ICO stock is listed on the TSX Venture Exchange and also on the OTCQB platform.

The update

Earlier to this announcement, iCo Therapeutics reported numerous corporate developments. Pertaining to their Oral Amphotericin B plan, numerous, additional pre-clinical trials have been initiated counting a multi-day fed/fasted trial, a week dose range finding trial and, prominently, a 14 day GLP toxicology trial.

iCo Therapeutics anticipates all three trials to be substantially close during Q1 2017. All these trials will be summarized in a company’s IND submission presently planned for mid-2017. Supplementary grant fund for 2017 has been obtained from current sources, totaling CDN$150,000, permitting the firm to undertake critical trials with no impact on corporate financial course.

Pertaining iCo-008 clinical development, management is following advancements of its Israeli associate and the two Phase II clinical trials currently underway.

Finally, iCo Therapeutics reported the resignation of John Meekison and election of Michael Liggett on company’s Board. Stated Andrew Rae, the CEO and President, said that they appreciate Meekison for his service as a co-founder, former CFO and board member of company. Meekison has played a central part in the firm since inception, serving on critical roles in operations and finance.

As part of the transition started in 2016, Liggett will assume a board role along with his existing title of CFO of company.

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