BEVERLY, MA--(Marketwire - June 27, 2011) - Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, today provided an update on Kevetrin™, the Company’s flagship compound for the treatment of drug-resistant cancers.
- Cellceutix’s management has recently applied to have Kevetrin™'s phase 1 clinical trial at a cancer center that is universally recognized as one of the world’s top cancer hospitals.
- Kevetrin™ has now attracted the attention of many in the pharmaceutical industry with calls and emails coming in regularly to Cellceutix for additional technical information.
“When dealing with the most prestigious institutions globally, the wheels turn a bit slow due to the thorough due diligence of those organizations. These things are unfortunately out of our hands. Most companies never even get this kind of opportunity and it is a vote of confidence in Kevetrin™,” commented Cellceutix CEO Leo Ehrlich. “We are being extremely well thought-out in making decisions as we are in a very unique position with Kevetrin™. We are evaluating every possible scenario that will maximize shareholder value. The word of Kevetrin™ is spreading throughout the industry as is evident in the fact that we have been contacted by many of the world’s foremost pharmaceutical companies inquiring about Kevetrin™. We are as optimistic as ever about our valuable compound and while we aren’t at liberty to discuss all of the details, things are progressing in an extremely positive manner.”
Summary of Kevetrin™
- Unique chemistry
- Unique mechanism of action
- Wild type and mutant p53
- Transcriptional dependent and independent manner
- Large therapeutic index
- Potent anti-tumor activity even in drug-resistant tumors
- Excellent toxicity profile
- No development of drug resistance seen
- Non-genotoxic
About Cellceutix
Cellceutix Corporation is a preclinical cancer, anti-inflammatory and autism drug developer. Cellceutix owns the rights to eight drug compounds, including Kevetrin, which it is developing as a treatment for certain cancers, KM-133, for the treatment of psoriasis, and KM-391, for the treatment of autism. More information is available on the Cellceutix web site at www.cellceutix.com.
This Press Release contains forward-looking statements that are based on our current expectations, beliefs and assumptions about the industry and markets in which Cellceutix Corporation operates. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Cellceutix’s actual results to be materially different from any future results expressed or implied by these statements. Actual results may differ materially from what is expressed in these statements, and no assurance can be given that Cellceutix can successfully implement its core business strategy and improve future earnings.
The factors that may cause Cellceutix’s actual results to differ from its forward-looking statements include: Cellceutix’s current critical need for additional cash to sustain existing operations and meet ongoing existing obligations and capital requirements; Cellceutix’s ability to implement its new product development and commercialization, enter into clinical trials, expand the intellectual property portfolio, and receive regulatory approvals in a timely and cost-effective manner. All forward-looking statements are also expressly qualified in their entirety by the cautionary statements included in Cellceutix’s SEC filings, including its quarterly reports on Form 10-Q and its annual report on Form 10-K.
Kevetrin, KM133, and KM-391 have not been studied in humans at this time. The Company’s positive results in animal studies do not necessarily guarantee success in humans, though they may form the basis for beginning Phase 1 trials.
Contact:
Cellceutix Corp.
Leo Ehrlich
(978) 236-8717
Email Contact
