Critical Outcome Receives Additional Patent Protection for Potential Transformational P53 Cancer Treatment

LONDON, ON--(Marketwired - May 24, 2016) - Critical Outcome Technologies Inc. (TSX VENTURE: COT) (OTCQB: COTQF) ("COTI" or the "Company") announced today that it has recently been granted two additional patents that further protect the mechanism of action and treatment of specific cancers targeted by COTI-2.

"The issuance of these additional patents extends the protection on our lead asset, COTI-2, which is currently being investigated in our Phase 1 clinical trial for the treatment of gynecological cancers," said Dr. Wayne Danter, President & Chief Executive Officer. "COTI-2 now has seven granted patents in the U.S., two in Europe, one in Canada, and one in Japan. Our ever-expanding international patent portfolio secures a compelling franchise for would-be licensees seeking to commercialize the drug for its novel therapeutic benefits. The diverse geographic coverage is supportive of licensing models providing regional exclusivity to different partners. As we continue to develop our first lead asset, we expect that there will be further downstream opportunities to seek additional IP protection that will extend the life of the franchise further into the future. We are actively seeking these opportunities as we move the drug through clinical development and continue to implement our comprehensive IP strategy."

The new patents in the United States and Europe relate to the synergistic effects of COTI-2 in combination therapy with other anti-cancer agents where such other therapeutic compounds affect three specific cellular targets in cancer treatment as well as the methods and uses thereof for such combinations. The patents also highlight the methods and use of COTI-2 as a representative of a class of drugs known as thiosemicarbazones for treating cancers that are characterized by an over-expression of RAS proteins, by EGFR mutations, or by an over-expression of AKT2 protein. These recent patents offer exclusive protection for COTI-2 until 2033.

About Critical Outcome Technologies Inc.

COTI is a clinical stage biopharmaceutical company advancing the treatment of cancer through targeted therapeutics. The Company's lead compound, COTI-2, has a novel p53-dependent mechanism of action with selective and potent anti-cancer activity. The initial therapeutic indication is in gynecologic cancers, which includes ovarian, cervical, and endometrial cancers; treatment of patients in a Phase 1 clinical trial began at MD Anderson Cancer Center in February 2016. The Company has secured orphan drug status for the ovarian indication in the U.S. and is planning additional studies in other cancer indications such as head and neck, Li-Fraumeni Syndrome, and acute myelogenous leukemia, based upon more than ten animal xenograft models showing both single and combination agent activity of COTI-2 with other leading cancer drugs. Preclinical data provides evidence to suggest a potentially dramatic change in the treatment of cancers with mutations of the p53 gene.

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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 "…POTENTIAL TRANSFORMATIONAL P53 CANCER TREATMENT" and "… we expect that there will be further downstream opportunities to pursue additional IP protection that will extend the life of the franchise further into the future" are forward-looking statements. 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.