Critical Outcome Technologies Inc. (COTI)

Critical Outcome Technologies Inc. (COTI)

March 22, 2010 12:24 ET

Critical Outcome Technologies Inc. Engages Biostrategy Management Inc.

LONDON, ONTARIO--(Marketwire - March 22, 2010) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE:COT) announced today that it has engaged BioStrategy Management Inc. (BioStrategy), a consulting company operated by Dr. Andre Uddin to assist the Company with strategic initiatives related to financing, business development and research and development. Throughout his career, Dr. Uddin has been involved with over U.S. $1 billion of life science financings, as such, his capital markets experience will be extremely beneficial to COTI at this juncture.

Prior to founding BioStrategy, Dr. Uddin was a top ranked analyst specializing in coverage of the Canadian biotechnology, pharmaceutical and medical device sectors and held senior biotechnology and pharmaceutical analyst positions at National Bank Financial, Research Capital Corp. and Merrill Lynch Canada. Dr. Uddin holds an Honours Bachelor of Science degree in BioChemistry from the University of Toronto and a Ph.D. in Biological Chemistry from McGill University.

"With his extensive capital market experience, in depth understanding of the global biotechnology sector and strong scientific background, Dr. Uddin will be a tremendous asset to COTI, as he is highly respected by the institutional investment community. His efforts will significantly help raise the profile of our Company," said Mr. Michael Cloutier, CEO of COTI.

"The future outlook for COTI looks promising with the prospect of multiple licensing opportunities and value building events given the shear speed and cutting edge nature of the CHEMSAS® discovery platform," said Dr. Andre Uddin, President of BioStrategy. "In particular, I believe COTI has the ability to positively impact the bottleneck of the drug discovery process currently found in the pharmaceutical industry," Dr. Uddin added.

The agreement is for an initial term of six months effective March 15, 2010 with a six month renewal period. The agreement may be extended thereafter as the parties may agree. Under the engagement, BioStrategy will receive 200,000 stock options and a monthly consulting fee. One quarter of the options will vest every three months over the next year and all options will expire in 5 years. The first 50,000 options have an exercise price of $0.50 and the remaining 150,000 options have an exercise price of $0.65.

About BioStrategy Management Inc

BioStrategy provides transaction advisory services and strategic consulting to biotechnology, pharmaceutical and medical device companies including: corporate strategy, market research and competitive analysis, drug target selection, portfolio management of pipelines, emerging market entry into India and China, financial advisory services, business development, asset and/or corporate divestitures, in-license/out-license of assets, scientific and competitive due diligence. For further information, visit

About Critical Outcome Technologies Inc. (COTI)

COTI is formed around a unique computational platform technology called CHEMSAS®, which allows for accelerated identification and optimization of targeted small molecules potentially effective in the treatment of human diseases for which current therapy is either lacking or ineffective. COTI is focused on preparing COTI-2 for an Investigational New Drug filing in the USA in 2011. Including COTI-2, the company has a significant preclinical pipeline targeting large market opportunities such as: small cell lung and colorectal cancer, adult acute leukemia and other cancers, multiple sclerosis, HIV integrase, and Alzheimer's disease. For further information visit

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. 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.

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.

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