Critical Outcome Technologies Reports Fiscal 2015 Second Quarter Results

LONDON, ONTARIO--(Marketwired - Dec. 17, 2014) - Critical Outcome Technologies Inc. (TSX VENTURE:COT)(OTCQB:COTQF) ("COTI" or the "Company") the biopharmaceutical company that uses machine learning to rapidly develop targeted therapies, reported its financial and operating results today for the three and six month periods ended October 31, 2014.

Highlights for the quarter included:

• signing a letter of intent with MD Anderson Cancer Center, one of the world's most respected cancer centers, for the Phase 1 clinical development of COTI-2 in gynecological cancers;
• receiving the final report for the two-species toxicity studies of COTI-2 that confirmed the low toxicity profile of the compound and provided important considerations for the Phase 1 clinical trial protocol design;
• completing additional and definitive testing confirming COTI-2's p53-dependent mechanism of action at dosages 60% lower than previously used in similar experiments that potentially translate into better efficacy and even better safety for the upcoming Phase 1 study;
• expanding the potential indications for COTI-2 beyond gynecological cancers with the signing of two material transfer agreements, one with MD Anderson, and another with the London Health Science Centre, to continue the evaluation of COTI-2 in the treatment of patients with head and neck squamous cell cancer;
• receiving the sixth U.S., first Japanese, and first Canadian patents for COTI-2, strengthening the potential to maximize future commercial licensing opportunities; and,
• completing a private placement providing additional funding for operations.

"We met several key milestones for our lead compound, COTI-2, during the second quarter," said Dr. Wayne Danter, Chief Executive Officer. "Positive results from critical pre-clinical experiments, along with additional funding from our recent financing, better position COTI-2 for the upcoming Phase 1 clinical trial. We continue to strengthen our relationship with MD Anderson and are pursuing opportunities for COTI-2 to make a difference in the treatment of other cancer indications beyond gynecological cancers. As we continue to prepare our IND submission, we also look forward to what should be a very exciting year for our Company and its investors in 2015."