Cellceutix Signs With Leading Cancer Center for Licensing New Drug
Published: Mar 04, 2013
BEVERLY, MA--(Marketwire - March 04, 2013) - Cellceutix Corporation (OTCBB: CTIX) (the "Company"), a clinical stage biopharmaceutical company focused on discovering small molecule drugs to treat unmet medical conditions, including drug-resistant cancers and autoimmune diseases, is pleased to report to its shareholders that the Company has signed a Confidential Disclosure Agreement with the leading research and cancer treatment center in New York City for the licensing of a novel new compound. The Company was alerted to this compound by its scientific advisor, Dr. Samuel Danishefsky. The compound is interesting to Cellceutix in that it potentially treats illnesses associated with Cancer. An example of such a drug would be Neupogen© by Amgen. The compound is not a drug for tumor regression and possibly could create a whole new market for Cellceutix. There is no assurance that a full-fledged licensing and collaboration agreement will be executed with the Cancer Center.
Headquartered in Beverly, Massachusetts, Cellceutix is a publicly traded company under the symbol "CTIX". It is an emerging bio-pharmaceutical company focused on the development of its pipeline of compounds targeting areas of unmet medical need. Our flagship compound, Kevetrin™, is an anti-cancer drug which has demonstrated the ability in pre-clinical studies to regulate the p53 pathway and attack cancers which have proven resistant to today's cancer therapies (drug-resistant cancers). Cellceutix also owns the rights to seven other drug compounds, including KM-133, which is in development for psoriasis, and KM-391 for the treatment of the core symptoms of autism. More information is available on the Cellceutix web site at www.cellceutix.com.
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