SOURCE: Critical Outcome Technologies Inc. (COTI)

Critical Outcome Technologies Inc. (COTI)

March 02, 2015 09:33 ET

Critical Outcome Provides Update on COTI-2 IND Filing

Company on Track for Filing IND Submission by End of March 2015

LONDON, ON--(Marketwired - March 02, 2015) - Critical Outcome Technologies Inc. (TSX VENTURE: COT) (OTCQB: COTQF) ("COTI" or the "Corporation") provides an update with respect to the status of its planned IND filing with the United States Food and Drug Administration that supports a Phase 1 clinical study for its lead oncology drug candidate, COTI-2, in gynecological cancers.

"I am pleased to advise that the issues that delayed our filing of the IND have been resolved," said Dr. Wayne Danter, President and CEO. "We encountered two unanticipated chemistry issues related to scale up and preparation of the Phase 1 material. With the resolution of both of these issues, our revised target for filing the IND is by the end of March 2015. We thank our investors for their patience, as we move forward to the filing of this important application and milestone for COTI-2."

For more information please visit the Company's corporate blog at www.criticaloutcomeblog/blog-posts.

About Critical Outcome Technologies Inc. (COTI) 

COTI is a biopharmaceutical company using machine learning to rapidly develop targeted therapies. COTI's proprietary artificial intelligence platform, CHEMSAS®, utilizes a series of predictive computer models to identify compounds with a high probability of being successfully developed from disease specific drug discovery through chemical optimization and preclinical testing. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.

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Notice to Readers

Information contained 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, "… our revised target for filing the IND is by the end of the March 2015." may be considered forward-looking. Forward‐looking statements by their nature are not guarantees of future performance and are based upon management's current expectations, estimates, projections and assumptions. COTI operates in a highly competitive environment that involves significant risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward‐looking statements. 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. Information in this press release should be considered accurate only as of the date of the release and may be superseded by more recent information disclosed in later press releases, filings with the securities regulatory authorities or otherwise.

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