Icagen Announces the Appointment of Adeoye Y. Olukotun, M.D., MPH, FACC to the Company's Board of Directors

"We are delighted to welcome Oye Olukotun to the Icagen Board ofDirectors," stated Charles A. Sanders, M.D., Chairman of the Board ofIcagen. "With a long and distinguished career in clinical drugdevelopment, including senior management positions at several leadingpharmaceutical and biotechnology companies, Oye will bring a valuablenew perspective to the Icagen Board. We very much look forward to hiscontributions as a board member as the Company continues its missionof discovering and developing novel pharmaceuticals."

Dr. Olukotun stated, "I am very pleased to join the Icagen Boardof Directors. Icagen is engaged in the discovery and development of abroad range of novel drug candidates, addressing several disease areaswith significant unmet medical need. I very much look forward toworking with the other members of the Icagen Board during thisexciting time in the Company's history."

Dr. Olukotun is a board certified cardiologist and has more thantwenty-five years of experience in clinical research and drugdevelopment in the pharmaceutical and biotechnology industry. Dr.Olukotun has been the Chief Medical Officer of VIA Pharmaceuticalssince July 2004. Prior to joining VIA Pharmaceuticals, Dr. Olukotunfounded CR Strategies, LLC, a clinical research and developmentconsulting firm in Princeton, NJ, and served as its Chief ExecutiveOfficer from 2000 to 2003. Dr. Olukotun also served as the ChiefMedical Officer of Esperion Therapeutics, Inc., a cardiovascular drugdevelopment company, from July 2001 until its acquisition by Pfizer inApril 2004. From June 1996 to January 2001, Dr. Olukotun was VicePresident of Medical and Regulatory Affairs and Chief Medical Officerof Mallinckrodt, Inc. Prior to joining Mallinckrodt, Dr. Olukotunspent thirteen years at Bristol-Myers Squibb Company, where he servedas Vice President of two divisions focused on cardiovascular research,and was involved in the clinical development of several cardiovascularand lipid-regulating agents. Dr. Olukotun has been instrumental in thesubmission of more than fourteen New Drug Applications, PremarketAuthorization Applications, and 510k Applications. Dr. Olukotun alsoplayed leading roles in the SAVE study involving captopril(Capoten(R)) and the WOSCOPS, LIPID and CARE studies of pravastatin(Pravachol(R)). He has published more than forty articles inpeer-reviewed scientific journals. Dr. Olukotun serves on the board ofdirectors of BioMedical Systems Corporation, a private St. Louis, MObased biotechnology company. Dr. Olukotun received his M.D. degreefrom Albert Einstein College of Medicine and obtained a MPH degreefrom Harvard University School of Public Health, and is a Fellow ofthe American College of Cardiology.

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 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; and

-- 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.

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 the Data Monitoring Committee will recommend stopping thePhase III ASSERT study entirely, whether and when, if at all, theCompany's products, including ICA-17043, will receive approval fromthe U.S. Food and Drug Administration or equivalent regulatoryagencies, and for which indications, and if such products receiveapproval, whether they will be successfully marketed; the Company'shistory of net losses and how long the Company will be able to operateon its existing capital resources; and the Company's dependence onthird parties, including manufacturers, suppliers and collaborators.We disclaim any intention or obligation to update any forward-lookingstatements as a result of developments occurring after the date ofthis press release.