Critical Outcome Technologies Inc. (COTI)

Critical Outcome Technologies Inc. (COTI)

January 24, 2012 09:00 ET

Critical Outcome Technologies Inc. Initiates Preclinical Testing of AML Drug Candidates

LONDON, ONTARIO--(Marketwire - Jan. 24, 2012) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE:COT) announced today that it has completed synthesis of compounds from its acute myelogenous leukemia (AML) program and has initiated confirmatory preclinical tests, representing an important step forward in the development of these potential drug candidates.

"We are delighted that we have achieved this key milestone in our AML program," said Dr. Wayne Danter, CEO. "The successful synthesis and initiation of the preclinical evaluation of the first candidates from our third major drug discovery program provides further validation of CHEMSAS® as a powerful artificial intelligence drug discovery engine. Successful candidates from this program will provide additional valuable commercial assets that can be licensed to partners for further development."

Like many other cancers, AML is the result of multiple gene mutations that affect multiple cell signaling kinase pathways. With few exceptions, traditional therapies that target a single abnormal kinase have produced disappointing long-term results. COTI scientists believe that a therapeutic approach targeting multiple kinases commonly mutated in AML has a higher probability of success in improving outcomes for patients with AML. COTI's AML program has the potential to produce multiple drug candidates with differing activity profiles that can be used to treat acute leukemias with different gene mutation profiles.

COTI plans to pursue licensing opportunities based upon the scientific results of the program and will introduce the AML program to prospective partners at upcoming scientific and business development conferences. COTI's AML program is protected by a number of issued American, European and Canadian patents.

About Acute Myelogenous Leukemia

AML is the most common type of acute leukemia with 12,950 new cases and 9,050 deaths occurring each year in the United States alone. According to the World Health Organization, there are approximately 250,000 new cases of leukemia annually worldwide. AML accounts for 43% of these cases. The global AML therapeutics market was valued at $204m in 2010. It is expected to grow to $329m by 2016.

Notice to Readers

Information provided in this press release may contain certain statements that constitute "forward- looking statements" within the meaning of the Securities Act (Ontario) and applicable securities laws. For example, the statements "that can be licensed to partners" and "plans to pursue licensing opportunities" are forward-looking statements. These statements convey the Company's efforts to secure a licensing deal, but COTI is not in a position at this time to determine when and if a deal 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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