Cellceutix Cancer Trial Enrollment Planned for August 2012

BEVERLY, MA–(Marketwire – Jul 23, 2012) – Cellceutix Corporation (OTCBB: CTIX) (the “Company”), a biopharmaceutical company focused on discovering small molecule drugs, is pleased to report that the Site Initiation Visit (SIV) required for commencement of the Company’s Phase 1 clinical trial for its novel anti-cancer drug, Kevetrin™, at Harvard Cancer Center was successfully completed on Thursday, July 19, 2012. The SIV provided researchers at the host hospitals, Harvard’s Dana-Farber Cancer Center and partner Beth Israel Deaconess Hospital, with specific training on the protocol of the human trial to ensure a comprehensive knowledge of responsibilities. Cellceutix will be registering the trial at www.clinicaltrials.gov and expects patient enrollment to begin in August 2012.

About Kevetrin™

As a completely new class of chemistry in medicine, Kevetrin™ has significant potential to be a major breakthrough in the treatment of cancers. Mechanism of action studies showed Kevetrin’s unique ability to affect both wild and mutant types of p53 (often referred to as the “Guardian Angel Gene” or the “Guardian Angel of the Human Genome”) and that Kevetrin strongly induced apoptosis (cell death), characterized by activation of Caspase 3 and cleavage of PARP. Activation of p53 also induced apoptosis by inducing the expression of p53 target gene PUMA. p53 is an important tumor suppressor that acts to restrict proliferation by inducing cell cycle checkpoints, apoptosis, or cellular senescence.

In more than 50 percent of all human carcinomas, p53 is limited in its anti-tumor activities by mutations in the protein itself. Currently, there are greater than 10 million people with tumors that contain inactivated p53, while a similar number have tumors in which the p53 pathway is partially abrogated by inactivation of other signaling components. This has left cancer researchers with the grand challenge of searching for therapies that could restore the protein’s protective function, which Kevetrin appears to be doing the majority of the time.