iCo Therapeutics grants 725,000 stock options to directors, officers and employees

Dec 31 2009

iCo Therapeutics Inc. (TSX-V: ICO) - iCo Therapeutics (the "Company") announced today that on December 29, 2009 the Company granted a total of 725,000 stock options to directors, officers and employees of the Company. The stock options are exercisable into common shares of the Company at an exercise price of $0.54 for a period of five years and are subject to vesting requirements. The Company's common shares closed at $0.54 on the TSX Venture Exchange on December 29, 2009.

Under the Company's Stock Option Plan, the Company has a total of 3,200,000 common shares reserved for the issuance of stock options, representing approximately 8.4% of the Company's 38,285,426 common shares outstanding. Including the December 29, 2009 option grant, the Company currently has 2,521,429 options issued and outstanding, representing approximately 6.6% of the Company's common shares outstanding.