Ico Therapeutics Inc., of Vancouver, British Columbia, said it issued 4 million units, priced at CA5 cents to a Canadian institutional investor in a non-brokered private placement. The total gross proceeds were CA$200,000 (US$150,896). Each unit consists of one common share and one common share purchase warrant exercisable at CA$0.075 for 36 months from the date of the closing of the private placement.