California-based pharmaceutical company Isis Pharmaceuticals has acquired 2,150,000 units of Canada-based biotechnology company iCo Therapeutics.
 
Each unit consists of one common share of iCo and one-half of one common share purchase warrant. Each whole warrant is exercisable at $0.30 per share until February 8, 2010. The units were acquired from treasury pursuant to a private placement on February 9, 2009.

Following completion of the private placement, Isis owns an aggregate of 3,955,900 common shares of iCo, representing approximately 14% of iCo's issued and outstanding common shares, and 1,075,000 warrants. If exercised, the 1,075,000 warrants would, together with the 3,955,900 common shares of iCo which Isis currently owns, represent approximately 17.2% of iCo's issued and outstanding common shares.