COT Cotinga Pharmaceuticals Inc

Critical Outcome Technologies Inc. (TSX VENTURE:COT) ("COTI" or the "Company")
reported its financial and operating results today for the three months ended
July 31, 2013.


Highlights for the quarter included:



--  receiving positive results from experiments carried out with the
    Company's lead cancer drug candidate, COTI-2; 
--  the continued advancement of three collaboration research and
    development (R&D) agreements involving COTI's proprietary drug discovery
    technology, CHEMSAS(R); and, 
--  the completion of a private placement to provide additional funding for
    operations.



"Our first quarter was marked by the receipt of positive data for our lead
cancer drug candidate from a world-renowned cancer research authority and the
continued progress of our three R&D collaborations," said Dr. Wayne Danter,
President and CEO. "The financing we were able to obtain during the quarter, and
subsequent to quarter-end, enables us to move forward with our licensing efforts
for COTI-2 and our other commercial activities to realize on their potential."


Financial Results

The Company reported a quarterly net loss of $500,052, or $0.01 per share, in
the first quarter of fiscal 2014 compared to a net loss of $722,769, or $0.01
per share, for the first quarter a year earlier. The improvement of $222,717
related to a decrease in costs in all functional areas. R&D expenditures
decreased $133,851 primarily reflecting a decrease in the testing related to
COTI-2 compared to the first quarter in fiscal 2013. General and administration
expenditures decreased $69,412 related primarily to a decline in professional
fees, lower salaries and benefits due to a staffing reduction, a decrease in
corporate governance costs related to the timing of the annual general meeting,
and a decrease in share-based compensation. Sales and marketing expenditures
decreased primarily due to lower salaries and benefits and a reduction in
consulting expense. A decline in other income sources of $39,128 offset some of
the expenditure savings and related primarily to a decrease in investment tax
credits of $28,639 due to the lower R&D expenditure levels and reductions to the
amount of eligible expenses as set out in the federal budget of March 2012.


Promising Advance for Many Common Cancers

On June 11, 2013, the Company announced that it had received positive results
from experiments carried out with the Company's lead cancer drug candidate,
COTI-2, in the cancer research laboratories of Dr. Gordon Mills, M.D., Ph.D., at
the MD Anderson Cancer Center in Houston, Texas. These preclinical experiments
demonstrated that:




--  COTI-2's major mechanism of action leads to the self destruction of
    human cancer cells that carry p53 gene mutations. This is of significant
    therapeutic importance because at least 50% of all human cancers have at
    least one type of p53 mutation; 
--  COTI-2 restores p53 mutant protein to a more normal structure and
    function in human cancer cells with a wide range of common p53 gene
    mutations. This range includes a number of the most common mutations
    found in more than 20% of all human cancers. This is important as COTI-2
    is selective for not just one or a few p53 mutation types but can affect
    a broad range of p53 mutations; 
--  COTI-2 is also effective in the absence of p53 mutations where other
    common mutations in the PI3K/AKT/mTOR cell signaling pathway exist. For
    example, COTI-2 is effective in cancers with mutations that lead to over
    expression of the tumor promoting protein AKT. This is important as
    COTI-2 has the potential to impact such cancers as a single therapy or
    in combination therapy with other treatments; and, 
--  While COTI-2 is generally less effective in human cancer cells without
    some level of mutant p53 protein, it also appears highly active in some
    cells where other genes in the p53 family like p63 and p73 contain
    mutations.



CHEMSAS(R) Yields Positive Results in Drug Discovery Collaborations

On May 6, 2013, the Company announced that all three of the collaboration R&D
projects announced in the fall of 2012 are on time and progressing well. These
collaborations include: a drug discovery project with Western University; a
co-development project with Delmar Chemicals Inc.; and, a drug discovery project
with a major global pharmaceutical company.


Financing

During the quarter, the Company realized gross proceeds of $529,907 on a
non-brokered private placement with accredited investors to provide funding for
operations. Subsequent to quarter-end, the Company completed another
non-brokered private placement with accredited investors that raised gross
proceeds of approximately $1,225,000 to support operations.


More detailed operating and financial results can be found in the Company's
Unaudited Condensed Interim Financial Statements and Management Discussion and
Analysis for the quarter ended July 31, 2013, which can be found on SEDAR at
www.sedar.com. This material is also available on the Company's website at
www.criticaloutcome.com.


About Critical Outcome Technologies Inc. (COTI)

COTI is a leading-edge technology company specializing in accelerating the
discovery and development of small molecules - dramatically reducing the time
and cost to bring new drugs to market. COTI'S proprietary artificial
intelligence system, CHEMSAS(R), utilizes a series of predictive computer models
to identify compounds with a high probability of being successfully developed
from disease specific drug discovery through chemical optimization and
preclinical testing. These compounds are targeted for a variety of diseases,
particularly those for which current treatments are either lacking or
ineffective.


Follow @CriticalOutcome on Twitter at http://twitter.com/CriticalOutcome

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 "... enables us to move forward with our licensing efforts for COTI-2
and our other commercial activities to realize on their potential" and "... has
the potential to impact such cancers as a single therapy or in combination
therapy with other treatments" 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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Critical Outcome Technologies Inc.
Dr. Wayne Danter
President & CEO
519-858-5157
wdanter@criticaloutcome.com


Heisler Communications
Trevor Heisler
Investor Relations
416-500-8061
trevor@heislercommunications.com
www.criticaloutcome.com

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