Icagen Initiates Pediatric Clinical Development of ICA-17043 for Sickle Cell Disease

Patients will receive study medication according to one of threedosing schedules over a period of 21 days. The objective of this studyis to evaluate the pharmacokinetics, pharmacodynamics and tolerabilityof ICA-17043 in pediatric patients with sickle cell disease. The datafrom this study will be used to select doses for subsequent clinicalevaluations of the safety and efficacy of ICA-17043 in pediatricsubjects. Pediatric patients comprise a significant portion ofpatients with sickle cell disease.

"We are pleased to have initiated the pediatric program," notedGreg Rigdon, Ph.D., Vice President, New Product Development, Icagen."Sickle cell disease is a chronic, progressive illness, withmanifestations of the disease appearing early in a patient's life. Welook forward to fully studying the potential of ICA-17043 to improvethe clinical course of patients with this disease. This initialpediatric study represents the first step in the development pathwayfor evaluating ICA-17043 in the pediatric population."

About ICA-17043

ICA-17043 is a novel small molecule ion channel inhibitor underdevelopment for the chronic prophylactic treatment of sickle celldisease. This novel drug candidate is taken orally and is beingdeveloped for once-a-day dosing. ICA-17043 has received both fasttrack designation and orphan drug designation from the U.S. Food andDrug Administration. ICA-17043 targets a particular potassium channel,called the Gardos channel, that is located on the membrane of redblood cells. In collaboration with the McNeil Pediatrics Division ofMcNeil-PPC, Inc., Icagen is currently conducting a pivotal Phase IIIclinical trial of ICA-17043.

About Sickle Cell Disease

Sickle cell disease is a chronic and debilitating genetic blooddisorder, primarily affecting individuals of African descent,resulting in a variety of disease complications and a significantlyshortened lifespan in the majority of patients. Sickle cell disease isthe most common genetic disease among individuals of African descentand is prevalent worldwide. According to the American MedicalAssociation, there are approximately 100,000 patients with sickle celldisease in the United States.

About Icagen

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

-- ICA-17043 for sickle cell disease, for which the Company is conducting a pivotal Phase III clinical trial;

-- lead compounds for epilepsy and neuropathic pain, for which the Company is conducting preclinical studies;

-- a compound for atrial fibrillation, for which the Company's collaborator Bristol-Myers Squibb Company is conducting preclinical studies;

-- lead compounds for dementia, including Alzheimer's disease, for which the Company's collaborator Astellas Pharma Inc. is conducting preclinical studies, and lead compounds for attention deficit/hyperactivity disorder, which were derived from the collaboration and for which the Company is conducting preclinical studies; and

Icagen is also conducting ongoing drug discovery programs focusedon new therapeutics for pain disorders, inflammatory disorders andglaucoma.

Forward Looking Statements

This press release contains forward-looking statements thatinvolve a number of risks and uncertainties. For this purpose, anystatements contained herein that are not statements of historical factmay be deemed to be forward-looking statements. Without limiting theforegoing, the words "believes," "anticipates," "plans," "expects,""intends," and similar expressions are intended to identifyforward-looking statements. Important factors that could cause actualresults to differ materially from the expectations described in theseforward-looking statements are set forth under the caption "RiskFactors" in the Company's most recent Quarterly Report on Form 10-Q,which is on file with the Securities and Exchange Commission. Theserisk factors include risks as to whether the Company's products willadvance in the clinical trials process, the timing of such clinicaltrials, whether the results obtained in preliminary studies will beindicative of results obtained in clinical trials, whether theclinical trial results will warrant continued product development,whether and when, if at all, the Company's products, includingICA-17043, will receive approval from the U.S. Food and DrugAdministration or equivalent regulatory agencies, and for whichindications, and if such products receive approval, whether they willbe successfully marketed; the Company's history of net losses and howlong the Company will be able to operate on its existing capitalresources; and the Company's dependence on third parties, includingmanufacturers, suppliers and collaborators. We disclaim any intentionor obligation to update any forward-looking statements as a result ofdevelopments occurring after the date of this press release.