Tuesday, November 07, 2006
Critical Outcome Technologies Inc. Announces the Final Selection of its Library of Orally Available Lead Compounds for the Treatment of Acute Multiple
LONDON, ONTARIO--(CCNMatthews - Nov. 7, 2006) - Critical Outcome Technologies Inc. (TSX VENTURE:COT), a computational drug discovery and pre-clinical drug development company, has completed the discovery, optimization and final selection of its library of lead compounds for the oral treatment of acute Multiple Sclerosis. The compounds have been engineered to be orally available, have low toxicity, cross the blood brain barrier and selectively inhibit Vascular Endothelial Growth Factor (VEGF-R) and Platelet Derived Growth Factor (PDGF-R) receptor kinases.
The first four lead candidates are now being synthesized at Dalton Pharma Services, Toronto, Canada, prior to undergoing efficacy and toxicity testing in a validated animal model of acute allergic encephalitis. Critical Outcome Technologies Inc. (COTI) expects the synthesis to be completed by the end of January 2007 and will advise the market accordingly.
ABOUT MULTIPLE SCLEROSIS
Multiple Sclerosis ("MS") is thought to be an autoimmune disease that affects the central nervous system. Most people with MS are diagnosed between the ages of 20 and 50, with two to three times as many women affected as men. According to the Multiple Sclerosis Society of Canada, approximately 450,000 North Americans report having MS, and every week about 200 people are newly diagnosed with the disease. On a global scale MS is reported to affect between 1.1 and 2.5 million people. While there are treatments for the relapsing-remitting form of MS, the development of treatments for primary and secondary-progressive MS has been slower. MS is a serious neurological condition that is prevalent in higher latitude temperate climates, with Canadians having one of the highest rates of MS in the world. MS is generally progressive and at the present time there is no cure for MS and no effective therapy.
ABOUT CRITICAL OUTCOME TECHNOLOGIES INC.
COTI believes that there must be a better way to get safe and effective new drug therapies to people in need on a more timely, cost effective and efficient manner than the current pharmaceutical industry approach. COTI's business is disease specific drug discovery, optimization and pre-clinical development using a combination of rigorously developed computer simulations and traditional medicinal chemistry. COTI's approach allows for the discovery and development of potential new therapies faster and more efficiently. The benefits of COTI's technology for pharmaceutical and biopharmaceutical partners include: (1) a faster time to market, (2) increased profits for each successful new drug, and (3) an extension of useful patent life by an estimated 2 to 4 years and consequently greater drug sales revenue.
COTI is focused on the discovery and pre-clinical development of small molecules for the treatment of serious diseases for which current therapy is either lacking or ineffective. Currently, four targeted libraries of small molecules (Multiple Sclerosis, Human Immunodeficiency Virus (HIV), Adult Onset Acute Myelogenous Leukemia and Colorectal Cancer) are under active development. For more information, please visit the COTI's website: www.criticaloutcome.com.
COTI'S FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of synthesis, establishment of corporate alliances and other risks detailed from time to time in the Company's filings. Although the forward-looking statements are based on what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.