Icagen, Inc. Announces Third Quarter 2005 Financial Results Conference Call

RESEARCH TRIANGLE PARK, N.C., Oct. 27 /PRNewswire-FirstCall/ -- Icagen, Inc. today announced it will host a conference call to discuss the Company's third quarter 2005 financial results on Friday, November 4, 2005 at 10:00 am ET. The call will follow the release of the third quarter 2005 financial results earlier that day.

To listen to the conference call, please dial: * 800-683-1585 (United States and Canada) * 973-935-2107 (International) Please reference PIN number 6658004.

You can access a webcast of this conference at http://www.wsw.com/webcast/icgn/. The webcast will be archived for 90 days.

A playback of the call will be available from approximately 1:00 pm ET on November 4 through November 11, 2005 and may be accessed by dialing:

* 877-519-4471 United States and Canada * 973-341-3080 International Please reference reservation number 6658004. About Icagen

Icagen, Inc. is a biopharmaceutical company based in Research Triangle Park, North Carolina, focused on the discovery, development and commercialization of novel orally-administered small molecule drugs that modulate ion channel targets. Utilizing its proprietary know-how and integrated scientific and drug development capabilities, Icagen has identified multiple drug candidates that modulate ion channels. 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; * a compound for atrial fibrillation, which is being developed by the Company's collaborator Bristol-Myers Squibb Company and is in Phase I clinical trials; * lead compounds for epilepsy and neuropathic pain, for which the Company is conducting preclinical studies; and * a compound for dementia, including Alzheimer's disease, which is being developed by the Company's collaborator Astellas Pharma, Inc., formerly Yamanouchi Pharmaceutical Co., Ltd., and is undergoing advanced preclinical testing.

Icagen is also conducting ongoing drug discovery programs focused on new therapeutics for pain disorders, inflammatory disorders and glaucoma.

Forward Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward- looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from the expectations described in these forward-looking statements are set forth under the caption "Certain Factors That May Affect Future Results" in the Company's most recent Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on August 15, 2005. These risk factors include risks as to whether the Company's products will be successful in the clinical trials process, the timing of such clinical trials, whether the results obtained in preliminary studies will be indicative of results obtained in clinical trials, whether the clinical trial results will warrant continued product development, whether and when, if at all, the Company's products, including ICA-17043, will receive approval from the U.S. Food and Drug Administration or equivalent regulatory agencies, and for which indications, and if such products receive approval, whether they will be successfully marketed; the Company's history of net losses and how long the Company will be able to operate on its existing capital resources; and the Company's dependence on third parties, including manufacturers, suppliers and collaborators. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Contacts: Richard D. Katz, M.D. SVP, Finance and Corporate Development; Chief Financial Officer Icagen, Inc. (919) 941-5206 rkatz@icagen.com Lev Janashvili Feinstein Kean Healthcare (617) 577-8110 lev.janashvili@fkhealth.com

Icagen, Inc.

CONTACT: Richard D. Katz, M.D., SVP, Finance and Corporate Development andChief Financial Officer of Icagen, Inc., +1-919-941-5206, rkatz@icagen.com;or Lev Janashvili of Feinstein Kean Healthcare, +1-617-577-8110,lev.janashvili@fkhealth.com

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