ICOS Acquires Additional Rights to Abbott's LFA-1Inflammation Compounds.

Business Editors, Health/Medical Writers

BOTHELL, Wash.--(BUSINESS WIRE)--June 22, 2000

ICOS Corporation (Nasdaq:ICOS) announced today the acquisition from Abbott Laboratories of additional rights for technology and compounds in inflammation in the field of LFA-1 antagonism.

ICOS and Abbott have collaborated in this field for the past five years. Previously, ICOS had marketing rights for cancer and Abbott owned marketing rights for all other indications. With this agreement, ICOS now has marketing rights for all compounds in all indications worldwide. The lead compounds fit well within ICOS' product portfolio and are outside Abbott's primary areas of interest. Under the terms of the agreement, Abbott will receive royalties on any marketed products.

Since the collaboration was initiated in 1995, the two companies have expanded their understanding of the role played by LFA-1 and other cell adhesion molecules. The work has yielded small molecule drug candidates that modulate LFA-1, a cell adhesion molecule selectively expressed on leukocytes, and other lead candidates that modulate other cell adhesion molecules. LFA-1 plays a major role in the activation of T-lymphocytes in the tissue at sites of inflammation. ICOS will continue research and development on small molecule antagonists of LFA-1 which are potent, highly selective, and, unlike current clinical approaches to this target, can be administered orally.

"Abbott's contributions to the development of small molecule compounds have brought us to the point where we can pursue a novel approach to diseases that complement our other programs. We would hope these could advance into clinical studies in the next twelve months. Acquiring novel compounds in areas with good commercial potential that further expand our pipeline is an important part of our strategy to build value for ICOS," stated Paul Clark, ICOS Chairman and CEO.

Over the last decade a large body of preclinical data has accumulated to establish the importance of LFA-1 as a biological target, particularly in chronic, T-cell driven inflammatory conditions and diseases. Tests conducted by ICOS and Abbott with their molecules have demonstrated efficacy in preclinical models of chronic diseases such as asthma and transplant rejection. In addition, human clinical trials with intravenously administered antibody based therapies directed toward LFA-1 conducted by other companies in the industry have shown efficacy in chronic inflammatory disease such as psoriasis.

ICOS is discovering and developing new pharmaceuticals by seeking points of intervention in disease processes that may lead to more specific and efficacious drugs. The Company's research and drug development programs involve both acute and chronic conditions.

NOTE: This news release contains forward-looking statements that involve risks and uncertainties, including risks associated with clinical development, regulatory approvals, product commercialization and other risks described from time to time in the SEC reports filed by ICOS, including the most recently filed Form 10-K and Form 10-Q.

http://www.businesswire.com/cnn/icos.htm