LONDON, ONTARIO and MONTREAL, QUEBEC--(Marketwire - Sept. 12, 2012) - Critical Outcome Technologies Inc. (COTI) (COT.V) and Delmar Chemicals Inc. (Delmar), a Canadian company owned by Holding F.I.S S.p.A announced today that they have entered into a research and development collaboration agreement to advance selected small molecules. COTI and Delmar will work together to discover, select, screen and synthesize compounds for targets that have been identified as being of specific interest to major pharmaceutical companies.
Under the agreement, COTI will utilize its proprietary Artificial Intelligence drug discovery platform, CHEMSAS(R), to discover and optimize novel drug candidates designed to effectively address a number of highly desirable commercial and therapeutic opportunities. Delmar will take on the medicinal chemistry analysis of the chemical structures as well as the synthesis of the most promising candidates. Strategically, the collaboration leverages the unique technical capabilities and financial resources of both COTI and Delmar in developing patentable preclinical assets for outlicensing.
"We are excited to work with Delmar, a recognized industry leader in medicinal chemistry, to generate additional patentable products for our mutual benefit," said Dr. Wayne Danter, President and Chief Executive Officer of COTI. "This collaboration represents an opportunity to extend the intellectual property in COTI's growing portfolio and assists in positioning CHEMSAS(R)' as a potential drug discovery engine of choice in the biopharmaceutical and research community."
According to Pierre Plante, President & CEO of Delmar, "We have great confidence in CHEMSAS(R) and are pleased to be collaborating with COTI on this project. Synthesizing the molecules identified by COTI provides us with a unique opportunity to demonstrate our expertise in medicinal chemistry."
About Critical Outcome Technologies Inc.
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(R), utilizes a series of predictive computer models to identify compounds with high probability of being 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.
For more information, visit www.criticaloutcome.com.
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.