LONDON, ONTARIO--(Marketwired - Nov. 13, 2013) - Critical Outcome Technologies Inc. ("COTI" or the "Company") (TSX VENTURE:COT), the bioinformatics and accelerated drug discovery company, is pleased to announce that the United States ("U.S.") Patent and Trademark Office has recently granted an additional patent for the Company's lead oncology asset, COTI-2. COTI-2 now has five U.S. patents granted, with several more pending.
"We are convinced that it is only a matter of time until the world recognizes the potential impact of COTI-2 on the treatment of many cancers," said Dr. Wayne Danter, President and CEO of COTI. "This additional patent provides further protection and added value to our lead oncology asset. We continue to execute a prudent strategy for creating long-term, comprehensive intellectual property coverage for COTI-2 as well as the other compounds in our robust pipeline."
Newly issued patent
U.S. Patent 8,580,792 covers synergistic combinations of COTI-2 and other anti-cancer agents in the treatment of cancers that have a RAS mutation, an EGFR mutation, or that over express AKT2. This covers many cancers that are notoriously difficult to treat, including colorectal cancers, in which approximately 50% of the patients do not respond to conventional treatment due to the presence of a KRAS mutation. The issuance of this latest patent re-affirms the unique mechanism of action of COTI-2, which based on preclinical results, provides real potential in treating cancers for which no effective therapy is currently available, especially when used in combination with other anti-cancer drugs acting through complementary mechanisms. This latest patent extends the period of market exclusivity available to COTI and its licensees for these important pharmaceutical compositions.
Preclinical development of COTI-2 is ongoing and the Company expects to initiate clinical evaluation by mid-2014. The Company remains open to, and is actively seeking, a potential partner for the clinical development of COTI-2.
About Critical Outcome Technologies Inc.
COTI is a leading-edge technology company specializing in accelerating the discovery and development of small molecules - dramatically reducing the time and cost to bring new drugs to market. COTI'S proprietary artificial intelligence system, CHEMSAS®, utilizes a series of predictive computer models to identify compounds with a high probability of being successfully developed from disease specific drug discovery through chemical optimization and preclinical testing. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.
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