LONDON, ON and BOSTON, MA–(Marketwired – June 28, 2017) – Critical Outcome Technologies Inc. (TSX VENTURE: COT) (OTCQB: COTQF) (“COTI” or the “Company”) announces, in response to the recent trading activity in its stock, that it has no material changes to report at this time. The Company believes the recent trading activity relates to the planned share consolidation announced on June 23, 2017.
The Company will continue to provide updates of any material changes if, and when they occur.
About Critical Outcome Technologies Inc. (COTI)
COTI is a clinical stage biotech company that uses proprietary artificial intelligence technologies to pursue a targeted and transformational approach to treating cancer and other unmet medical needs. COTI’s CHEMSAS® technology accelerates the discovery and development of novel drug therapies, allowing the Company to build a pipeline of potential drug candidates faster and with a higher probability of success than traditional methods.
The Company’s lead compound, COTI-2, has a novel p53-dependent mechanism of action with selective and potent anti-cancer activity. P53 mutations occur in over 50% of all cancers. COTI-2 is initially being evaluated for the treatment of gynecologic cancers, including ovarian, cervical, and endometrial cancers in a Phase 1 clinical trial at the MD Anderson Cancer Center at the University of Texas and the Lurie Cancer Center at Northwestern University. The Company has secured orphan drug status in the United States for COTI-2 for the treatment of ovarian cancer. The Company also plans to evaluate COTI-2 in additional oncology indications, including head and neck cancer, Li-Fraumeni Syndrome, and acute myelogenous leukemia. Preclinical data suggests that COTI-2 could dramatically improve the treatment of cancers with mutations in the p53 gene.
The Company’s second lead compound, COTI-219, is a novel oral small molecule compound targeting the mutant forms of KRAS without inhibiting normal KRAS function. KRAS mutations occur in up to 30% of all cancers and represent a tremendous unmet clinical need and a desirable drug target. COTI-219 is undergoing IND-enabling studies to support a regulatory submission by the end of calendar 2017.
Follow @CriticalOutcome on Twitter at http://twitter.com/CriticalOutcome.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, visit www.criticaloutcome.com or contact:
Alison Silva
President and CEO
1-800-798-6860
Email: [email protected]
