Critical Outcome Technologies Inc. Updating Prospective COTI-2 Partners at the American Society for Clinical Oncology Annual Meeting

LONDON, ONTARIO--(Marketwire - June 07, 2010) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE: COT), announced today that representatives of the Company will meet with several prospective partners who have expressed interest in its lead oncology drug candidate COTI-2 at the American Society for Clinical Oncology (ASCO) annual meeting taking place in Chicago, Illinois June 4-8, 2010. The objective of these meetings is to present a detailed scientific update on COTI-2 to key decision makers from several pharmaceutical and biotechnology organizations and to further discuss licensing opportunities as COTI-2 continues its development towards a Phase 1 clinical trial in 2011.

Some of the recent and more important scientific developments for COTI-2 to be presented include:

 -- Evidence from protein expression and silencing RNA experiments confirming mechanism of action -- Evidence of single agent oral activity in a human triple negative breast cancer animal study -- Completion of a final intravenous formulation -- Completion of sensitive detection methods in animal plasma -- Progress in the development of a final oral formulation with significantly improved bioavailability -- Favourable pre-IND Gap analysis in preparation for meeting with the United States Food and Drug Administration -- Successful review of the proposed COTI-2 clinical program at US Oncology Translational Oncology Program Science Summit 

“This detailed update will stimulate further discussions with parties that have expressed an interest in licensing COTI-2 as we continue to evaluate all of our options regarding a COTI-2 licensing arrangement,” said Mr. Michael Cloutier, Chief Executive Officer of COTI.

COTI will be represented at ASCO 2010 by Dr. Wayne Danter, President and Chief Scientific Officer and Mr. Michael Barr, Director of Business Development and Marketing.

Notice to Readers

Information contained 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 “that have expressed an interest in licensing COTI-2" is a forward-looking statement. Forward-looking statements, by their nature, are not guarantees of future performance and are based upon management’s current expectations, estimates, projections and assumptions. COTI operates in a highly competitive environment that involves significant risks and uncertainties which could cause actual results to differ materially from those anticipated in these forward-looking statements. 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. Information in this press release should be considered accurate only as of the date of the release and may be superseded by more recent information disclosed in later press releases, filings with the securities regulatory authorities or otherwise.

About Critical Outcome Technologies Inc. (COTI)

COTI is formed around a unique computational platform technology called CHEMSAS®, which allows for accelerated identification and optimization of targeted small molecules potentially effective in the treatment of human diseases for which current therapy is either lacking or ineffective. COTI is focused on preparing its lead anti cancer compound, COTI-2, for an Investigational New Drug filing in the USA in 2011. In addition to COTI-2, the company has a significant preclinical pipeline targeting large market opportunities such as: small cell lung and colorectal cancer, adult acute leukemia and other cancers, multiple sclerosis, HIV integrase, and Alzheimer’s disease. For further 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.