Critical Outcome Technologies Inc. Provides Update on HIV-1 Integrase Co-Development Program
|| Print ||
|Tuesday, 13 April 2010 16:00 (UTC + 2)|
London, Ontario, April 13, 2010 / b3c newswire / - Critical Outcome Technologies Inc. (COTI) (TSX Venture: COT) announced today the completion of synthesis for the first two novel HIV integrase inhibitors under co-development with a major pharmaceutical partner.
As previously announced, COTI entered into this partnership to advance its HIV-1 integrase inhibitor program. Under this agreement, COTI retains all data and intellectual property ownership of the drug candidates including the results of the upcoming in vitro experiments to be conducted by the co-development partner.
The next step in the program is for the co-development partner to manage, conduct and fund the agreed upon in vitro experiments in their evaluation of the compounds. Once these experiments have been completed and the results have been received by COTI, the co-development partner will have an exclusive time period to negotiate a licensing agreement with COTI for the compounds.
“I am pleased to announce this update in our HIV Integrase program,” said Dr. Wayne Danter, President and CSO of COTI. “HIV/AIDS represents a major unmet medical need and the progress in our program for novel HIV integrase inhibitors brings COTI one step closer to assisting in the fight against this devastating disease.”
“We are delighted to move these compounds into the next stage of development with our co-development partner,” said Michael Cloutier, CEO of COTI. “This is a strategic, cost effective initiative that allows us to rapidly advance our HIV-1 integrase inhibitor program.”
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 “brings COTI one step closer to assisting in the fight against this devastating disease” 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.
According to the UNAIDS 2008 Report on the Global AIDS Epidemic, there are 33 million people living with HIV around the globe. The annual number of new infections is approximately 2.7 million worldwide. In 2007, the HIV market was worth $9.3 billion across the seven major markets of France, Germany, Italy, Japan, Spain, the UK and the US and it is expected to grow to $15.1 billion by 2017. This growth is driven by the growing prevalence of HIV worldwide as well as the increasing life expectancy of those receiving treatment.
About Integrase Inhibitors
Integrase Inhibitors represent a new class of antiretroviral therapy and much excitement has surrounded this drug target, as it represents the first new class of HIV drugs in 10 years. The development of HIV integrase inhibitors marks an important frontier in HIV research as integrase is one of the only enzymes that had not been successfully targeted, until now. Data from large efficacy trials suggests that drug combinations containing an integrase inhibitor achieved substantial levels of viral suppression in patients with drug-resistant HIV. The response seen in patients was equivalent to that seen when highly active antiretroviral therapy became available.
About Critical Outcome Technologies Inc. (COTI) - www.criticaloutcome.com
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.
For further information, please contact:
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.