Critical Outcome Technologies Inc.

Critical Outcome Technologies Inc.

May 02, 2008 12:35 ET

Critical Outcome Technologies Inc. Announces Amalgamation With DDP Therapeutics

LONDON, ONTARIO--(Marketwire - May 2, 2008) - Critical Outcome Technologies Inc. (TSX VENTURE:COT) announced today that it has amalgamated with its wholly owned subsidiary, 6441513 Canada Inc, operating as DDP Therapeutics (DDP) effective May 1, 2008. DDP was acquired as announced on November 27, 2007. This amalgamation completes the process of integrating the small cell lung cancer (SCLC) molecule library of DDP with the research development operations of Critical Outcome Technologies Inc. (COTI).

Since acquisition COTI has added significant value to the SCLC library as part of its commercialization strategy for these small molecules with emphasis on the lead compound COTI-2. In this regard, the data package for COTI-2 has been bolstered with a stronger understanding of the compound's mechanism of action.

COTI has also advanced other candidates in the SCLC library into preclinical development. COTI-4 and COTI-58 will enter into synthesis in June 2008. COTI-219 is expected to undergo mechanism of action experiments in July 2008.

"I am pleased to report positive developments in our oncology program as a result of the acquisition of DDP," said Dr. Wayne Danter, President and Chief Scientific Officer of COTI. "The ongoing development and progress of our oncology drug candidates has helped build a robust pipeline for COTI and augments our business development opportunities."

About Critical Outcome Technologies Inc.

COTI is formed around a unique computational platform technology called CHEMSAS®, which allows for the accelerated identification, profiling and optimization of targeted small molecules potentially effective in the treatment of human diseases for which current therapy is either lacking or ineffective. COTI's business is focused on the discovery and pre-clinical development of libraries of novel, optimized lead molecules for the treatment of specific cancers, HIV and multiple sclerosis. Currently, five targeted libraries of lead compounds (small cell lung cancer, multiple sclerosis, HIV integrase inhibitors, colorectal cancer, and acute myelogenous leukemia in adults) are under active development.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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