- Published: 24 September 2008
- Written by Editor
Critical Outcome Technologies Inc. to Advance HIV-1 Integrase Inhibitor Program with a Major Pharmaceutical Company
Critical Outcome Technologies Inc. (TSX VENTURE: COT), announced today that it has entered into an agreement with a major pharmaceutical company to advance up to six drug candidates from COTI's HIV-1 integrase inhibitor program, identified using its CHEMSAS(R) drug discovery process.
Under the agreement, Critical Outcome Technologies Inc. (COTI) will retain intellectual property ownership of COTI's drug candidates, including any data resulting from preclinical experiments. COTI will manage the synthetic chemistry process associated with these select drug candidates with a third party contractor. The cost associated with synthesis will be shared between the two parties.
Upon completion of synthesis, the major pharmaceutical company will manage, conduct and fund agreed upon preliminary preclinical experiments as part of its evaluation of COTI's compounds. Once the final experiments have been completed and the results have been received by COTI, the major pharmaceutical company will have an exclusive time period to negotiate a licensing agreement with COTI for the select compounds. If an agreement is not reached within this period, COTI will be able to engage other potential partners for its HIV-1integrase inhibitor program.
"We are pleased to begin a working relationship with another leading global pharmaceutical company," said John Drake, Chairman and Chief Executive Officer of COTI. "This is a strategic, cost effective initiative that allows us to rapidly advance our HIV-1integrase inhibitor program. It also provides the opportunity to further validate our innovative drug discovery technology CHEMSAS(R), which allows us to identify novel optimized, high-potential lead compounds in 3-5 months. It is our strategy to form partnerships early in our development process and it is our hope that this project marks the beginning of a successful, long-term relationship."
About Critical Outcome Technologies Inc. (COTI)
COTI is formed around a unique computational platform technology called CHEMSAS(R), which allows for the accelerated identification, profiling and optimization of targeted small molecules potentially effective in the treatment of human diseases for which current therapy is either lacking or ineffective. COTI's business is focused on the discovery and pre-clinical development of libraries of novel, optimized lead molecules for the treatment of specific cancers, HIV and multiple sclerosis. Currently, five targeted libraries of lead compounds (small cell lung cancer, multiple sclerosis, HIV integrase inhibitors, colorectal cancer, and acute myelogenous leukemia in adults) are under active development.
Critical Outcome Technologies Inc. (TSX VENTURE: COT), announced today that it has entered into an agreement with a major pharmaceutical company to advance up to six drug candidates from COTI's HIV-1 integrase inhibitor program, identified using its CHEMSAS(R) drug discovery process.
Under the agreement, Critical Outcome Technologies Inc. (COTI) will retain intellectual property ownership of COTI's drug candidates, including any data resulting from preclinical experiments. COTI will manage the synthetic chemistry process associated with these select drug candidates with a third party contractor. The cost associated with synthesis will be shared between the two parties.
Upon completion of synthesis, the major pharmaceutical company will manage, conduct and fund agreed upon preliminary preclinical experiments as part of its evaluation of COTI's compounds. Once the final experiments have been completed and the results have been received by COTI, the major pharmaceutical company will have an exclusive time period to negotiate a licensing agreement with COTI for the select compounds. If an agreement is not reached within this period, COTI will be able to engage other potential partners for its HIV-1integrase inhibitor program.
"We are pleased to begin a working relationship with another leading global pharmaceutical company," said John Drake, Chairman and Chief Executive Officer of COTI. "This is a strategic, cost effective initiative that allows us to rapidly advance our HIV-1integrase inhibitor program. It also provides the opportunity to further validate our innovative drug discovery technology CHEMSAS(R), which allows us to identify novel optimized, high-potential lead compounds in 3-5 months. It is our strategy to form partnerships early in our development process and it is our hope that this project marks the beginning of a successful, long-term relationship."
About Critical Outcome Technologies Inc. (COTI)
COTI is formed around a unique computational platform technology called CHEMSAS(R), which allows for the accelerated identification, profiling and optimization of targeted small molecules potentially effective in the treatment of human diseases for which current therapy is either lacking or ineffective. COTI's business is focused on the discovery and pre-clinical development of libraries of novel, optimized lead molecules for the treatment of specific cancers, HIV and multiple sclerosis. Currently, five targeted libraries of lead compounds (small cell lung cancer, multiple sclerosis, HIV integrase inhibitors, colorectal cancer, and acute myelogenous leukemia in adults) are under active development.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Critical Outcome Technologies Inc. Michael Barr Director of Business Development and Marketing (519) 858-5157 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.criticaloutcome.com
SOURCE: Critical Outcome Technologies Inc.
mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.criticaloutcome.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Critical Outcome Technologies Inc. Michael Barr Director of Business Development and Marketing (519) 858-5157 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.criticaloutcome.com
SOURCE: Critical Outcome Technologies Inc.
mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.criticaloutcome.com
