London, Ontario, Canada, September 18, 2012 / B3C newswire / - Critical Outcome Technologies Inc. (COTI) (TSX Venture: COT) announced today that it has initiated the final series of toxicity experiments in two animal species for its lead oncology asset, COTI-2. The data from these experiments are an important part of the toxicity package required by the U.S. Food and Drug Administration (FDA) for a first in human trial.
The completion of the two species toxicity experiments represents the final study of three major risk reduction studies that COTI announced it would complete in order to make COTI-2 an Investigational New Drug (IND) submission ready compound.
"The initiation of these toxicity experiments is the final part of the IND scientific data package for submission to the FDA and represents another important step in enhancing COTI-2 as a commercially attractive asset," said Dr. Wayne Danter, President and Chief Executive Officer of COTI. "We are pleased with the continued development of COTI-2 and are excited to take another step towards an IND filing. The results of these experiments will be critical in moving COTI-2 towards human clinical trials in early to mid 2013 and increasing the value for a licensing transaction."
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®, 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.
Dr. Wayne Danter
President and CEO