Cellceutix Discovers Drug Activates 'Guardian Angel P53' In Fight Against Leukemia

Dr. Krishna Menon, Chief Scientific Officer at Cellceutix, commented, "Kevetrin continues to exceed our original expectations as a possible new cancer therapy. Dr. Frei is amongst the most elite cancer researchers in the history of the disease.  For Kevetrin to impress him is really saying something about the possibilities of this novel compound."

Cellceutix has been notified by its  formulation vendor that production is scheduled to begin this week to produce Kevetrin in the dosage form for planned clinical trials. The Company plans to file an Investigational New Drug (IND) application with the U.S. Food and Drug Administration in May 2011, with human trials to begin thereafter.

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.

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