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We wanted to update you with some exciting things happening at Cellceutix Corporation (OTCBB:CTIX), a Beverly, MA-based emerging bio-pharmaceutical company in the business of developing small molecule therapies in areas of unmet medical needs. Here is a summary of recent events:
- Chief Executive Officer, Chairman of the Board of Directors
George W. Evans, JD, MBA
President, Chief Scientific Officer, Board of Directors
Dr. Krishna Menon
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| Cellceutix Signs Agreement for Kevetrin(TM) API
Company will use material for toxicology studies and phase 1 human trials
BEVERLY, Mass., August 17, 2009-- Cellceutix Corporation (OTCBB:CTIX), a bio-pharmaceutical company in the business of developing small-molecule therapies in areas of unmet medical needs, today announced that it has signed an agreement with Girindus America, Inc., for the manufacture of Kevetrin active pharmaceutical ingredient. Terms of the agreement were not disclosed.
"This is a big step toward our short-term goal of filing for an investigational new drug exemption (IND) with the FDA," said George Evans, CEO of Cellceutix. " We will use the material manufactured by Girindus to do the last animal studies needed for the filing of an IND, as well as for phase 1 human trials. We think Girindus will be an excellent partner for Cellceutix."
Kevetrin is being developed to treat certain cancers. The Company has recently reported encouraging results in animal models of drug resistant lung cancers. For more information about these results, please visit the Cellceutix web site at www.cellceutix.com.
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Dr. Samuel Danishefsky Joins Cellceutix’s Scientific Advisory Board
We’re very please to announce that Dr. Samuel Danishefsky has agreed to serve on the Cellceutix Scientific Advisory Board through July 6, 2010. Stated Dr. Danishefsky: “I am pleased to have the opportunity to work with a dynamic young company like Cellceutix. I am very encouraged that the company's lead chemotherapy compound, Kevetrin, has shown activity in animal models of drug resistant lung cancers. Lung cancer causes more deaths annually in Western countries than breast, colorectal and prostate cancers combined. I look forward to contributing to the development of Kevetrin and other Cellceutix compounds." Dr. Danishefsky is one of the most well-respected chemists in the world having made many significant contributions in the field of cancer research. Having him join our Scientific Advisory Board will help us immensely in our compound development research efforts. He will be an excellent fit for our Board. Dr. Danishefsky is an internationally recognized leader in chemistry, specializing in the synthesis of biologically active organic compounds.
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| Kevetrin™ Animal Model Testing Success Against Multi-Drug Resistant Lung Cancer
Cellceutix Corporation successfully completed a series of animal model tests on two multi-drug resistant non-small-cell lung carcinoma human cell lines, A549 and NCI-H1975, using its proprietary pharmaceutical compound Kevetrin™. In each cell line, tumor volume was reduced by more than 90% and tumor growth was delayed by more than 100%. In addition, both the tumor volume reduction and the tumor growth delay were greater in each cell line with Kevetrin than with paclitaxel (Taxol) (p<0.01). Each experiment was repeated in order to increase the level of confidence in the results. The results in the repeated experiments were similar to those in the initial tests.
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Headquartered in Beverly, MA, Cellceutix is an emerging bio-pharmaceutical company in the business of developing small molecule therapies in areas of unmet medical needs. It owns the rights to six drug compounds, including Kevetrin, which it is developing as a treatment for certain cancers, and KM-133, which it is developing for psoriasis. For more information, visit: www.cellceutix.com. |
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This newsletter 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 has not been studied in humans. Positive results in animal studies do not necessarily predict success in human trials. The results reported in this press release have not been subject to review by people outside Cellceutix. In the test animals, Kevetrin did not cure the cancer but only delayed its progression. When therapy was stopped, the tumors eventually began growing again. |