Celceutix ‘Back in the Game’ with cGMP Manufacturing Completed on New Cancer Drug

BEVERLY, MA–(Marketwire – Feb 27, 2012) – Cellceutix Corporation (OTCBB: CTIX) (“the Company”), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, is pleased to announce that the manufacturing of Kevetrin™, the Company’s novel cancer compound for multi-drug resistant cancers, has been completed under cGMP manufacturing conditions by Lyophilization Services of New England, of Bedford, New Hampshire. The vials will be used in Kevetrin’s upcoming Phase I clinical trial.

The vials will now undergo QC testing and stability studies which are expected to take a little more than a month. Upon completion, Cellceutix will be submitting an amended Investigational New Drug application to the U.S. Food and Drug Administration for the clinical trial of Kevetrin™ which is scheduled to be hosted by one of the world’s most prestigious cancer centers and its affiliates.

“I am extremely pleased to be putting the Formatech situation behind us and gearing up for the clinical trials for Kevetrin,” said Cellceutix Chief Executive Officer Leo Ehrlich.

“With the cGMP manufacturing complete, we are ‘back in the game’ as we believe that we have the best cancer drug in development today. We are eager to get into human trials and expect to prove it.”