ELI LILLY & Co — Director's Dealing 2005

Feb 10, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ICAGEN INC (ICGN)
CIK: 0000902622
Period of Report: 2005-02-08

Reporting Person: LILLY ELI & CO (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-08	Common Stock	C	125340	—	Acquired	300340	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-08	Series B Convertible Preferred Stock	$	C	125340	Disposed		Common Stock (125340)	Direct

Footnotes

F1: Upon the closing of the Issuer's public offering, the Series B Convertible Preferred Stock converted on a 1-for-1 basis into Common Stock.

F2: These shares were immediately exercisable. They had no expiration date.