Cotinga Pharmaceuticals Inc COTQF

Fourth Quarter results

[jcjohn36]

Critical Outcome Technologies Inc. Reports Financial Results for the Fourth Quarter and the Year Ended April 30, 2007 Wed Aug 22, 6:16 PM Email Story IM Story Printable View LONDON, ONTARIO--(Marketwire - Aug. 22, 2007) - Critical Outcome Technologies Inc. (TSX VENTURE: COT.V) today announced its financial results for the fourth quarter and the year ended April 30, 2007. "It was a milestone year for Critical Outcome Technologies Inc (COTI)," said Dr. Wayne Danter, President and Chief Scientific Officer of COTI "as the Company moved forward to commercialize its molecule libraries by raising the necessary funds and putting in place the personnel and business processes to support the development efforts of the CHEMSAS(R) technology and market the molecule libraries being developed. As our Company looks towards the future we will continue to seek and evaluate business development opportunities to enhance shareholder value." Highlights - Successful completion of two private placements resulting in net proceeds of $3,163,110. - Encouraging pre-clinical results from the small cell lung cancer library (in collaboration with DDP Therapeutics). - Measurable progress in the development of the Multiple Sclerosis, HIV Integrase and Adult Acute Leukemia small molecule libraries. - Substantial business development activities resulting in established relationships with prospective Pharma partners. - Successful recruitment of key personnel for both the Board and Senior Management positions.