London, Ontario (January 9, 2012): Critical Outcome Technologies Inc. (COTI) (TSX Venture: COT)announced today that the Company will meet with several prospective licensing partners including executives from major pharmaceutical organizations who have expressed interest in its lead oncology drug candidate COTI-2 at Biotech Showcase. Biotech Showcase is a pharmaceutical partnering conference held concurrent to J.P. Morgan's 30th annual Healthcare Conference taking place in San Francisco, California on January 9-11, 2012.
The objective of these meetings is to present compelling data on COTI-2, a potentially first-in-class and best-in-class non-ATP competitive modulator of AKT2, and to further discussions surrounding a licensing deal. “We are delighted with the continued development of our lead oncology candidate, COTI-2,” said Dr. Wayne Danter, Chief Executive Officer of COTI. “The most recent results suggest COTI-2 is a highly selective, orally effective and well tolerated drug candidate that is well positioned for clinical development. We are seeking a partner with an interest in moving this novel, targeted anti-cancer drug candidate through development and to the market in indications where significant unmet medical need exists.”
During preclinical testing, COTI-2 has demonstrated greater selectivity, an improved safety profile and superior pharmacokinetics in comparison to other AKT targeted compounds. Over expression of AKT/AKT2 is common in a broad range of human cancers, including ovarian, endometrial, pancreatic, breast, colorectal and lung. The percent of tumors with active AKT/AKT2 range from 20% to 100% depending on the cancer type.
Notice to Readers
Information provided in this press release may contain certain statements which constitute “forward-looking statements” within the meaning of the Securities Act (Ontario) and applicable securities laws. For example, the statement “to further discussions surrounding a licensing deal” is a forward-looking statement. This statement conveys the Company’s efforts to secure a licensing deal, but COTI is not in a position at this time to determine when and if a deal will be finalized. Forward?looking statements, by their nature, are not guarantees of future performance and are based upon management’s current expectations, estimates, projections and assumptions. Risks that could impact on these forward-looking statements are outlined in the Company’s annual information form. Management of COTI considers the assumptions on which these forward-looking statements are based to be reasonable, but as a result of the many risk factors, cautions the reader that actual results could differ materially from those expressed or implied in these forward-looking statements.
About Critical Outcome Technologies Inc. (COTI)
COTI is a leading-edge company specializing in accelerating the discovery of small molecules thus enabling these new drugs to be brought to market in a more cost effective, efficient and timely manner. COTI’S proprietary artificial intelligence system, CHEMSAS®, utilizes a series of predictive computer models to identify compounds most likely to be successfully incorporated in disease-specific drug discovery, as well as subsequent optimization and preclinical development. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.
For more information, visit www.criticaloutcome.com or contact:
Michael Barr
Vice President of Business Development and Marketing
519-858-5157
mbarr@criticaloutcome.com
