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Critical Outcome Technologies Inc. Receives Second U.S. Patent for COTI-2
Monday, April 02, 2012
London, Ontario -- Critical Outcome Technologies Inc. (COTI) announced today that patent number 8,138,191 was granted by the United States Patent and Trademark Office (USPTO) relating to COTI-2, the Company's most advanced oncology drug candidate. This is the second patent granted for COTI-2 and is another major milestone as it adds new patent protection, which includes the synergistic effects of combination therapies comprised of COTI-2 and members of other classes of anti cancer agents.
"The granting of this patent by the examiners of the USPTO strengthens the COTI-2 intellectual property portfolio for clinical uses thus adding to its value to us and our potential partners," said Dr. Wayne Danter, Chief Executive Officer. "Data from multiple xenograft experiments using human tumors together with our evolving understanding of how COTI-2 functions continues to indicate that it works well on its own and when combined with many other classes of commonly used anti-cancer drugs. This patent, which provides protection for combination use of COTI-2 until 2030, will be a valuable asset to us in the advancement of our licensing initiatives and is further validation of our proprietary artificial intelligence drug discovery process, CHEMSAS(R), and its ability to discover new and important drug candidates."
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 proportion of tumors producing an excess of active AKT/AKT2 ranges from 20% to 100%, depending on the cancer type. This patent provides additional protection for COTI-2 in a market where there are an estimated 490,000 new cases each year of cancers that over express AKT/AKT2.
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(R), 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.
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 "will be a valuable asset to us in the advancement of our licensing initiatives" is a forward-looking statement. This statement conveys 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 with 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.
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