LONDON, ONTARIO--(Marketwire - Sept. 26, 2012) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE:COT), announced today that its President & Chief Executive Officer, Dr. Wayne Danter, provided a business and scientific update concerning the Company at its Annual General and Special Meeting (AGM) of Shareholders held on Tuesday, September 25, 2012.
Highlights of the presentation included:
- an overview of the Company's core business technology, competitive strengths and strategic direction;
- a brief summary of the pharmaceutical industry challenges and the opportunities these challenges may create for the Company;
- an outline of key new scientific and business attributes of the Company's lead oncology compound COTI‐2 and the Company's continued progress towards out‐licensing; and,
- a review of future products and successes with commercial research and development collaborations and co‐developments.
A copy of the full presentation can be found on COTI's website: www.criticaloutcome.com.
COTI also announced that at its AGM the shareholders approved fixing the current complement of directors at eight and empowered the Board of Directors thereafter to determine from time to time the number of directors of the Corporation within the minimum and maximum limits; re‐appointed KPMG LLP as auditor of the Company and authorized the directors to fix the auditor's remuneration; and approved the continuation of the Company's rolling stock option plan.
Notice to Readers
There is no information contained in this press release which constitutes "forward‐looking statements" within the meaning of the Securities Act (Ontario) and applicable securities laws, however, certain statements contained in the presentation made at the AGM may constitute forward‐looking statements. 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 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.
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.