London, Ontario (February 22, 2012):Critical Outcome Technologies Inc.(COTI) (TSX Venture:COT) announced today that the Company was selected by the International Trade Branch, Ontario Ministry of Economic Development & Trade to participate in a Trade Mission to BioPartnering North America in Vancouver, Canada taking place February 26?28, 2012. BioPartnering North America is one of the premier annual international pharmaceutical partnering events.
“We are delighted to be selected for the Trade Mission to BioPartnering North America and to be given the opportunity to share with a select audience the continued progress of our novel, targeted anti?cancer drug candidate, COTI-2,” said Dr. Wayne Danter, President & CEO 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.” COTI is currently evaluating potential partners 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.
COTI will also be delivering a presentation at the conference highlighting the scientific merit and commercial potential of COTI-2. COTI’s presentation will occur on Monday, February 27, 2012 at 2:15 pm PT in the West meeting room 101-102 at the Vancouver Convention Centre.
COTI is one of 11 Ontario based human health bioscience organizations selected to participate in this Trade Mission and is using this opportunity to meet with potential licensing partners for COTI-2. The objective of these meetings is to present compelling data on COTI’s potentially first?in?class and best?in?class Akt2 modulator/inhibitor for oncology, COTI-2, and to further discussions surrounding a licensing deal.
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. COTI-2 is the most advanced compound in COTI’s pipeline discovered through CHEMSAS®, its proprietary artificial intelligence platform.
NoticetoReaders
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.
AboutCriticalOutcomeTechnologiesInc.(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 with high probability of being 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
