iCo Therapeutics Inc. has acquired the exclusive worldwide rights to iCo-009, an oral reformulation of Amphotericin B ("Amp B") for the treatment of systemic fungal infections and Leishmaniasis.

AmpB is a generic drug that has been in use for approximately 50 years and is considered one of the most effective agents in the treatment of systemic fungal infections. Current use of Amp B is limited as it is currently administered intravenously and has significant infusion related side effects and kidney toxicity. The oral reformulation, iCo-009, was invented in the Wasan Lab at the University of British Columbia (UBC) by Dr Kishor and Ellen Wasan.

"iCo's innovative partnership with UBC illustrates the forward thinking and leading edge nature of both our organizations," stated Andrew Rae, iCo's president and CEO. "iCo views the enormous market and compassionate use potential of a novel, oral Amphotericin drug as a win-win scenario for shareholders and our global community alike".

It has been estimated that fungal infections may account for up to 30 per cent of deaths in immunocompromised individuals, particularly those patients with cancer, AIDS, diabetes, and organ transplant recipients. In the developing world, AmpB is also an effective weapon against Leishmaniasis, a parasite contracted by approximately 2 million people a year, with 12 million presently infected worldwide. If left untreated, Visceral Leishmaniasis can have a fatality rate as high as 100 per cent within two years (World Health Organization).