Cellceutix Receives Notice of Acceptance for Phase 1 Clinical Trial

BEVERLY, MA–(Marketwire – Jul 19, 2011) – Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, is pleased to report that it has received notice of acceptance for a clinical trial of Kevetrin™, Cellceutix’s flagship compound as an indication for drug-resistant cancers, to be conducted at one of the world’s most prominent cancer centers.

“I am pleased to announce this significant milestone in the development of Kevetrin,” commented Leo Ehrlich, CEO of Cellceutix. “Our research to date on Kevetrin™ has been stellar and the approval to conduct our clinical trials at what many believe to be the world’s foremost cancer research center adds a great deal of validation to our beliefs that Kevetrin™ could be one of the leading cancer compounds known at this time. Additional details will be coming upon finalization of review and signed contracts.”