BEVERLY, MA–(Marketwire – Jun 27, 2011) – Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, today provided an update on Kevetrin™, the Company’s flagship compound for the treatment of drug-resistant cancers.
Cellceutix’s management has recently applied to have Kevetrin™’s phase 1 clinical trial at a cancer center that is universally recognized as one of the world’s top cancer hospitals. Kevetrin™ has now attracted the attention of many in the pharmaceutical industry with calls and emails coming in regularly to Cellceutix for additional technical information.
“When dealing with the most prestigious institutions globally, the wheels turn a bit slow due to the thorough due diligence of those organizations. These things are unfortunately out of our hands. Most companies never even get this kind of opportunity and it is a vote of confidence in Kevetrin™,” commented Cellceutix CEO Leo Ehrlich. “We are being extremely well thought-out in making decisions as we are in a very unique position with Kevetrin™. We are evaluating every possible scenario that will maximize shareholder value. The word of Kevetrin™ is spreading throughout the industry as is evident in the fact that we have been contacted by many of the world’s foremost pharmaceutical companies inquiring about Kevetrin™. We are as optimistic as ever about our valuable compound and while we aren’t at liberty to discuss all of the details, things are progressing in an extremely positive manner.”
Summary of Kevetrin™
Unique mechanism of action
Wild type and mutant p53
Transcriptional dependent and independent manner
Large therapeutic index
Potent anti-tumor activity even in drug-resistant tumors
Excellent toxicity profile
No development of drug resistance seen