Cellceutix Announces a Study Planned at The University of Bologna Titled “A Multi-Center, Open-Label, Phase 1b Study of Kevetrin with Cytarabine in Patients with Acute Myleogenous Leukemia (AML)”

U.S. Patent Issued for Kevetrin, Cellceutix’s p53 Anti-Cancer Compound

BEVERLY, MA – January 7, 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 provide information on the planned upcoming European clinical trials for Kevetrin™, the Company’s flagship anti-cancer compound.

The clinical phase 1b trial is titled “A Multi-Center, Open-Label, Phase 1B Study of Kevetrin with Cytarabine in patients with Acute Myelogenous Leukemia (AML)”

The University of Bologna in Italy (the “University”) and The Italian Cooperative Study Group on Chronic Myeloid Leukemia (ICSG on CML) and Acute Leukemia (GIMEMA Group) are sponsoring the clinical trials.  Cellceutix has been advised that the submission for approval for the clinical trials are on schedule and the trials are expected to begin during the first half of 2013.

“Kevetrin has garnered the attention of some of the world’s foremost authorities in oncology,” commented Dr. Krishna Menon, Chief Scientific Officer of Cellceutix.  “The University of Bologna has a distinguished history as a European leader in cancer research with a particular expertise in the field of hematological cancers. We could not be more pleased that this institution sees the potential for Kevetrin as a new drug candidate for AML and look we forward to building upon this special relationship with this esteemed institution.”

Cellceutix also announced today that the United States Patent and Trademark Office (USPTO) awarded the Company U.S. Patent No. 8,338,454 B2, titled “Nitrile Derivatives and their Pharmaceutical Use and Compositions.”  The patent was issued on December 25, 2012.

The patent covers pharmaceutical compositions comprising Kevetrin™, the Company’s novel anti-cancer compound currently being evaluated in clinical trials against advanced solid tumors. The patent also covers related compounds and compositions.

Dr. Paul Ginsburg, a member of the Company’s Scientific Advisory Board, wrote the patent.  Dr. Ginsburg has held senior legal positions at some of the world’s leading pharmaceutical companies, including Pfizer, Inc., Merck, and Schering-Plough. Dr. Ginsburg is perhaps most well-known as the author of the patent covering Schering-Plough’s hugely successful product Claritin. Dr. Ginsburg recently retired from Pfizer Inc., where he served as Head of the New York Patent Department and worked on patent matters relating to several blockbuster products, including Viagra, and represented Pfizer on the intellectual property committees of the National Association of Manufacturers, the Chemical Manufacturers Association and the Biotechnology Industry Organization.

Cellceutix’s intellectual property law firm, Ladas & Parry, prosecuted the above referenced patent.