Critical Outcome Technologies Inc. (COTI)

Critical Outcome Technologies Inc. (COTI)

February 08, 2012 09:00 ET

Critical Outcome Technologies Inc. Initiates Development and Validation of Bioanalytical Method for COTI-2 Phase 1 Study

LONDON, ONTARIO--(Marketwire - Feb. 8, 2012) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE:COT) announced today that it has engaged Algorithme Pharma Inc. (Algorithme) of Montreal, Canada, an internationally recognized contract research organization, to develop and validate the final quantitative method to be used for preclinical and Phase 1 studies for COTI-2.

"The development and validation of a bioanalytical method for COTI-2 in human plasma represents another important milestone in the preparation of COTI-2 for its first in human study," said Dr. Wayne Danter, COTI's President and CEO. "This validated detection method is one of our final requirements for the Phase 1 clinical study submission."

Both Health Canada and the United States Food and Drug Administration require a validated detection method for measuring a drug's concentration in human plasma as part of the Phase 1 submission package. Based on the functional detection method used for rodent species to date, the Company has done considerable work in developing the final bioanalytical method including the successful development of a radio-labeled COTI-2 isotope for use as an internal standard. It is anticipated that the development and validation will take approximately six weeks to complete.

COTI-2's specific cellular targeting, low toxicity, and proven efficacy support a potentially dramatic change in the treatment of cancers that over express AKT/AKT2. 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 producing excess active AKT/AKT2 ranges from 20% to 100% depending on the cancer type.

Notice to Readers

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 "it is anticipated that the development and validation will take approximately six weeks to complete" is a forward-looking statement. This statement conveys the Company's efforts to develop and validate a final detection method, but COTI is not in a position at this time to determine when or if a detection method 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.

About Critical Outcome Technologies Inc. (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 most likely to be 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.

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