Cellecutix Enters into $30 Million Common Stock Purchase Agreement

Cellceutix Meeting with FDA to Discuss Phase 2 Clinical Trial for Ulcerative Proctitis Treatment; Cellceutix’s Abstract on Kevetrin to Be Presented at ASCO

BEVERLY, MA–(Marketwired – Apr 1, 2015) – Cellceutix Corporation (OTC: CTIX) (the “Company”), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology, and antimicrobial applications, is pleased to inform shareholders that Cellceutix has signed a $30 million stock purchase agreement with Aspire Capital Fund, LLC. Pursuant to the Agreement, Aspire has committed to purchase over the next 3 years up to $30 million of Cellceutix’s common stock based on the prevailing market prices at the time of each sale. The timing of the purchases will be at the sole discretion of Cellceutix. Aspire Capital has previously provided the Company with $30 million in equity capital in two similar transactions. Additional details of the Agreement with Aspire Capital have been filed in a Report on Form 8-K with the U.S. Securities and Exchange Commission.

“We are pleased to continue our successful, long-term relationship with Cellceutix by entering into a new $30 million transaction,” said Steven G. Martin, Managing Member of Aspire Capital Fund, LLC. “Over the last several years, Aspire Capital has completed two similar transactions with the Company totaling $30 million. During that time, Cellceutix has made tremendous progress in advancing the development of its key assets including Brilacidin, Kevetrin, and Prurisol. We were pleased with the results from the phase 2B trial of Brilacidin for ABSSSI. We are also pleased to see Kevetrin showing promising signs of activity and tolerability. We continue to believe in the Company’s potential and are excited about the upcoming milestones in 2015.”

Cellceutix is pleased to announce that the Food and Drug Administration (“FDA”) has approved the Company’s request for a pre-Investigational New Drug (“IND”) meeting to discuss the clinical development of a topical defensin-mimetic compound for the indication of induction of remission of ulcerative proctitis. Cellceutix intends to initiate a Phase 2 clinical trial of its unique defensin-mimetic compound for ulcerative proctitis, an idiopathic mucosal inflammatory disease and form of ulcerative colitis involving only the rectum or the distal colon and rectum (proctosigmoiditis). The meeting with the FDA is scheduled to take place at the end of April.

Additionally, Cellceutix announced that the Scientific Program Committee of the American Society of Clinical Oncology (“ASCO”) has selected for presentation Cellceutix’s abstract on the Phase 1 clinical trial of Kevetrin for treatment of advanced solid tumors being conducted at Harvard’s Dana-Farber Cancer Institute and Beth Israel Deaconess Medical Center. The abstract was selected from nearly 6,000 abstracts and will be presented at the 2015 ASCO Annual Meeting, May 29 – June 2, 2015 at the McCormick Place Convention Center in Chicago, Illinois.

Cellceutix will provide shareholders with a comprehensive update on its NASDAQ uplisting status and clinical trials during April 2015.

“I am very satisfied by the continuity of developments across all aspects of our company, which I attribute to the efforts and quality of our pipeline, staff, and partners,” commented Leo Ehrlich, Chief Executive Officer at Cellceutix. ”Our lab studies have us extremely optimistic that a novel defensin-mimetic can have a meaningful effect for patients in the multi-billion-dollar gastrointestinal disorders market and the meeting with the FDA is an important step in initiating a clinical trial. We have a tremendous long-term investor in Aspire, who has been responsible for $30 million in capital raises previously and has now committed to another $30 million. Those funds, coupled with the more than $10 million we have in the bank puts Cellceutix in a strong financial position.”