Critical Outcome Technologies Inc.

A board to discuss future MS therapies in early stage (Phase I or II) trials.

Critical Outcome Technologies Inc.

Postby scoobyjude » Tue Jan 02, 2007 4:49 pm

Most of it is blah, blah, blah investment and stock stuff but there's mention of them identifying potential oral multiple sclerosis treatments at the end

Critical Outcome Technologies Inc. Reports Second Quarter 2007 Financial Results
Tuesday January 2, 3:11 pm ET


LONDON, ONTARIO--(CCNMatthews - Jan. 2, 2007) - Critical Outcome Technologies Inc. (TSX VENTURE:COT - News) today announced its financial results for the second quarter ended October 31, 2006. The Company continued its development stage activities focused on developing its molecular libraries and building customer relationships for the sale or licence of its two lead molecule libraries; small cell lung cancer (10% ownership interest) and multiple sclerosis and did not generate any revenues from operations during the quarter. The Company reported a net loss for the period of $101,633 or $0.00 per share compared to a net loss of $56,066 or $0.01 per share for the three months ended October 31, 2005.

Revenues from operations for the first six months ending October 31, 2006 were $2,500 from screening services. A net loss of $264,721 or $0.01 per share was incurred for this period compared to a net loss of $93,521 or $0.01 per share in the comparable period in 2005. These results reflect the increased business activity of the company in fiscal 2007, as it advances its technology and molecular libraries forward to market. At October 31, 2006 the Company had $2,237,599 in cash and cash equivalents.

"On October 11, we successfully completed our first major financing, which raised net proceeds of $2,178,386. This provides us the opportunity to move some of our molecular libraries forward through our development cycle in a substantial way," stated Dr. Wayne Danter, President & CSO. "We believe the amalgamation completed on October 13, which led to our listing on the TSX Venture Exchange, provides the public forum and profile for our Company and its molecular libraries to meet our goal of bringing these exciting drug candidates forward to their ultimate goal of meeting major unmet medical needs. For example, by the end of October we had completed the discovery, optimization, patentability due diligence and final selection of our library of orally available inhibitors of VEGF and PDGF receptor kinases as potential therapies for acute multiple sclerosis."

About Critical Outcome Technologies Inc. (COTI)

COTI is formed around a unique computational platform technology called CHEMSAS®, 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 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. For more information on COTI, visit www.criticaloutcome.com.
Last edited by scoobyjude on Tue Jan 02, 2007 5:01 pm, edited 1 time in total.
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Postby scoobyjude » Tue Jan 02, 2007 5:00 pm

I remember this company now. They don't actually develop drugs, they use computer software to find out which ones have the best chance to be effective.

Drug innovators
Tue, January 2, 2007

By HANK DANISZEWSKI, FREE PRESS BUSINESS REPORTER

A small London company is poised to become a big player in the development of new drugs.

Critical Outcomes Technologies Inc. has developed a software program that identifies chemical compounds that show the best potential for being developed into new drugs.

The computer model developed by Wayne Danter, COTI's president, shortens the "discovery" phase of drug testing, a process that often takes four to six years.

"Drug companies traditionally evaluate 5,000 compounds to identify one winner. Dr. Danter's computer model can streamline that process to six months," said Michael Barr, COTI's marketing director.

The program can identify the effectiveness and toxicity of a compound so a pharmaceutical company can move on to animal and human testing.

Barr said bringing a new drug to market is a high-stakes game that takes 10-15 years and can cost $1 billion.

He said many big pharmaceutical companies are worried because patents for some of their most popular drugs are about to expire, allowing generic manufacturers to enter the market.

Barr said COTI's program will be attractive to pharmaceutical companies eager to get new products on to the market.

"Pharma companies realize that with expiring patents they are going to have to supplement their pipeline and they just can not do it fast enough internally."

Barr said the public will also benefit from faster drug approvals. He said COTI has focused on the most serious diseases, such as small-cell lung cancer, multiple sclerosis and HIV, where there are now few or no treatment options.

The company is now licensing a short list of compounds that show promise in fighting small-cell lung cancer and is working on possible treatments for multiple sclerosis.

COTI has seven employees and is based at the Stiller Centre for Technology Commercialization at the University of Western Ontario Research Park.

It was established in 1999, but took a leap forward in 2006 when it was listed on the Toronto Stock Exchange under the symbol COT.

The company has attracted substantial funding from London-area investors in recent months. Barr said TechAlliance and the Stiller Centre helped set up connections with local investors.

COTI has started talking to big pharmaceutical companies and hopes to reach its first big deal soon, Barr added.

"We hope that once we achieve one deal and establish a strong name in the industry that future deals will be easier to achieve." 
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Postby Lyon » Tue Jan 02, 2007 8:02 pm

He said many big pharmaceutical companies are worried because patents for some of their most popular drugs are about to expire, allowing generic manufacturers to enter the market.
I don't know enough about their software to trust how accurate it is but I would be interesting to have them run LDN and an ABX through it and see what happens.
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Postby scoobyjude » Thu Jan 04, 2007 4:38 pm

Yeah, considering they don't actually know what drives MS it seems that it would be pretty hard to figure out what will be effective in fighting or curing it. This may be more useful for other diseases but who knows. They should try out some of the things that have shown promise for MS but need further testing like LDN or even vitamin D but since the pharma companies aren't interested, I doubt they will. I'm sure they want to make money. :lol:
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Postby viper498 » Fri Jan 05, 2007 7:04 am

Amen!!!!
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