Cellceutix Completes All Three Animal Safety Pharmacology Studies
for Its Cancer Compound Req by FDA
BEVERLY, MA--(Marketwire - 07/07/10) - Cellceutix Corporation (OTC.BB:CTIX
- News) today announced that it has completed all three animal
safety pharmacology studies for its cancer compound, Kevetrin™, that
are required by the U. S. Food and
Drug Administration prior to filing an IND. These studies involve
assessments of the impact of the administration of a compound on the
respiratory, cardiovascular, and central nervous systems of test
animals.
Dr. Krishna Menon, Chief Scientific Officer of Cellceutix commenting
on the results, stated, "Previous required testing on the
respiratory and central nervous systems showed no significant
neuropharmacological or biologically relevant effects. This set of
cardiovascular testing coincided with those results with no
significant effects at low, medium or high dosage levels. While
there was a transient increase in heart rate at extreme dosage
levels, we do not believe it will be of any significance going
forward as even the highest dosages had no toxicological effects on
ECG or cardiac rhythm." Dr. Menon continued, "The completion of
animal safety pharmacology studies presents a big milestone for
Cellceutix. The remaining toxicology data necessary for preparing
our IND should be received by late July."
Multi-drug resistance, the principal mechanism by which many
carcinoma strains develop resistance to chemotherapy drugs, is one
of the primary reasons for ineffectiveness of standard cancer
therapies on the market today. Treatments that were once effective
at destroying cancer cells are being rendered ineffective due to
specific strains of cancer cells that have modified their
compositions to be resistant to today's chemotherapy treatments.
Kevetrin, a completely novel compound, is being developed as a
possible solution for several strains of lung, breast and colon
cancers that have been proving themselves resistant to the
chemotherapy drugs presently available.
"The completion of these studies is a giant step forward," said Leo
Ehrlich, CFO of Cellceutix. "We are excited to have advanced
Kevetrin so far so fast while also developing our other compounds,
especially KM-391 for autism. In the last few weeks, we have been
visited by a major financial institution wanting to learn more about
Cellceutix, as well as meeting with one of the world's largest
Pharmas who too wished to learn more about Cellceutix. We are
excited that we are now attracting industry attention. I believe
this is the start of an exciting time for our Cellceutix team and
shareholders."
About Cellceutix
Cellceutix Corporation is a preclinical cancer, autism and
anti-inflammatory drug developer. Cellceutix owns the rights to
eight drug compounds, including Kevetrin, which it is developing as
a treatment for certain cancers, and KM-391, which it is developing
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 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:
Contact:
Cellceutix Corp.
Leo Ehrlich
(978) 633-3623