Critical Outcome Technologies Changes Name to Cotinga Pharmaceuticals
LONDON, ONTARIO and BOSTON, MASSACHUSETTS–(Marketwired – Jan. 8, 2018) - Critical Outcome Technologies Inc. (TSX VENTURE:COT)(OTCQB:COTQF) (“COTI” or the “Company”), a clinical-stage pharmaceutical company advancing a pipeline of targeted therapies for the treatment of cancer, today announced a name change from “Critical Outcome Technologies Inc.” to “Cotinga Pharmaceuticals Inc.” The effective date of the name change, approved by shareholders in December 2017, is expected to be January 10, 2018.
This new brand signifies the Company’s evolution from a technology-driven company to a clinical-stage pharmaceutical company. The name is derived from the Cotingas, one of the world’s largest and most diverse bird species, and symbolizes the Company’s focus on developing innovative therapies to treat a wide spectrum of cancers.
“We are excited to officially introduce Cotinga Pharmaceuticals,” said Alison Silva, President & CEO. “After a close review of the business, we have launched a new brand that reaffirms our identity, recognizes our achievements in the clinic, and underscores our continued commitment to develop therapeutics for patients suffering from various cancers. We have made considerable progress advancing our pipeline of targeted therapies to date, and we look forward to building on this progress in the year ahead as we continue the Phase 1 trial of our lead compound, COTI-2, in head and neck squamous cell carcinoma (HNSCC) and prepare our second compound, COTI-219, for an investigational new drug (IND) submission.”
About Cotinga Pharmaceuticals Inc.
Cotinga Pharmaceuticals is a clinical-stage pharmaceutical company that uses proprietary artificial intelligence technologies to develop innovative therapies to treat a wide spectrum of cancers. The Company’s CHEMSAS® platform evaluates biological activity from molecular structures, allowing the Company to build a pipeline of potential drug candidates with predictive accuracy and expediency when compared to traditional development methods.
The Company’s lead compound, COTI‐2, has a novel p53‐dependent mechanism of action with selective and potent anti‐cancer activity. P53 mutations occur in over 50% of all cancers. COTI‐2 is currently in a Phase 1 trial for the treatment of gynecologic cancers and head and neck squamous cell carcinoma. The Company has secured orphan drug status in the United States for COTI‐2 for the treatment of ovarian cancer. Preclinical data suggests that COTI-2 could dramatically improve the treatment of cancers with mutations in the p53 gene.
The Company’s second lead compound, COTI-219, is a novel oral small molecule compound targeting the mutant forms of KRAS without inhibiting normal KRAS function. KRAS mutations occur in up to 30% of all cancers and represent a tremendous unmet clinical need and a desirable drug target. COTI-219 is undergoing IND-enabling studies to support a regulatory submission in 2018.
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Notice to Readers:
Information contained in this press release may contain certain statements which constitute “forward- looking statements” as such term is defined under applicable securities laws. For example, the statements “The effective date of the name change, approved by shareholders in December 2017, is expected to be January 10, 2018″ and “We have made considerable progress advancing our pipeline of targeted therapies to date, and we look forward to building on this progress in the year ahead as we continue the Phase 1 trial of our lead compound, COTI-2, in head and neck squamous cell carcinoma (HNSCC) and prepare our second compound, COTI-219, for an investigational new drug (IND) submission” are 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. Except as required by law, COTI assumes no obligation to update forward-looking statements should circumstances or management’s expectations, estimates, projections and assumptions change.