Critical Outcome Technologies Inc. (COTI) (TSX Venture: COT) and Delmar Chemicals Inc. (Delmar), a Canadian company owned by Holding F.I.S S.p.A announced today that they have entered into a research and development collaboration agreement to advance selected small molecules. COTI and Delmar will work together to discover, select, screen and synthesize compounds for targets that have been identified as being of specific interest to major pharmaceutical companies.
Under the agreement, COTI will utilize its proprietary Artificial Intelligence drug discovery platform, CHEMSAS®, to discover and optimize novel drug candidates designed to effectively address a number of highly desirable commercial and therapeutic opportunities. Delmar will take on the medicinal chemistry analysis of the chemical structures as well as the synthesis of the most promising candidates. Strategically, the collaboration leverages the unique technical capabilities and financial resources of both COTI and Delmar in developing patentable preclinical assets for out-licensing.
“We are excited to work with Delmar, a recognized industry leader in medicinal chemistry, to generate additional patentable products for our mutual benefit,” said Dr. Wayne Danter, President and Chief Executive Officer of COTI. “This collaboration represents an opportunity to extend the intellectual property in COTI’s growing portfolio and assists in positioning CHEMSAS®’ as a potential drug discovery engine of choice in the biopharmaceutical and research community.”
According to Pierre Plante, President & CEO of Delmar, “We have great confidence in CHEMSAS® and are pleased to be collaborating with COTI on this project. Synthesizing the molecules identified by COTI provides us with a unique opportunity to demonstrate our expertise in medicinal chemistry.”