BEVERLY, MA--(Marketwire - June 06, 2011) - Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, is pleased to report that its toxicology vendor, Toxikon Corporation, is currently presenting its poster “Bioanalytical Method for Kevetrin™" at the American Society for Mass Spectrometry (ASMS) meeting in Denver, CO June 5th - 9th. The poster was accepted for presentation by the ASMS and showcases Kevetrin™, the Company’s novel anti-cancer compound.
The poster explains that Kevetrin™ is a unique compound with distinctive chemistry with hydrophilicity and small molecular size. A novel HPLC-MS/MS method was successfully developed and validated for the determination of Kevetrin™ in plasma. This method met the high standards for performance requirements needed to support pre-clinical toxicology studies and IND submission to the FDA.
In Other News:
Cellceutix is pleased to report that Bilcare Global Clinical Supplies, a business unit of industry-leader Bilcare Ltd., has been contracted as a vendor for the planned clinical trials. More information on Bilcare can be found at http://www.bilcare.com/
Cellceutix Chief Scientific Officer Dr. Krishna Menon is now attending the annual meeting of the American Society of Clinical Oncology (ASCO) for meetings with other pharmaceutical corporations and vendors.
As also announced in a press release on May 23, 2011, Cellceutix is testing Kevetrin™ against an aggressive form of pancreatic cancer before filing of the Investigational New Drug application with the FDA. The Company is pleased to report that testing is near completion.
Leo Ehrlich, CEO of Cellceutix, commented: “It is a very busy time at Cellceutix. We are extremely pleased that Toxikon chose to present Kevetrin™ at the ASMS meeting as to what they accomplished, creating the new HPLC-MS/MS method which was another industry first. It is often difficult to help people understand the challenges behind developing Kevetrin™ as there is nothing else like it; so even what may be standard for other drugs requires a completely new process to be established for us. It is this uniqueness that we believe distinguishes Cellceutix as having one of the most promising anti-cancer compounds.”
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, KM-133, 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
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