Cellceutix to Commence Clinical Trials for its Novel Anti-Cancer Drug Kevetrin

BEVERLY, MA – September 24, 2012– Cellceutix Corporation (OTCBB: CTIX) (the “Company”), a clinical stage biopharmaceutical company focused on discovering small molecule drugs for hard to treat diseases, is pleased to update shareholders on the status of clinical trials for the Company’s novel anti-cancer drug, Kevetrin™, at Harvard Cancer Center’s Dana-Farber Cancer Institute and Beth Israel Deaconess Medical Center.

As noted in the press release on September 4, the clinical protocol was amended which required Institutional Review Board (IRB) approval.  Cellceutix has been informed that the IRB meeting has taken place and hospital preparations are now underway at the respective institutions to allow for the commencement of the clinical trials.  Cellceutix expects the process of activation, recruitment, enrolling and first dosing to take approximately 3 weeks.

“This is a unique clinical trial and institutions such as Dana-Farber and Beth Israel Deaconess are extremely meticulous in their protocol.  It is this level of excellence that compelled us to sponsor the trials at these clinical sites,” commented Dr. Krishna Menon, President and Chief Scientific Officer at Cellceutix.

Cellceutix Chief Executive Officer Leo Ehrlich added, “There is excitement building around us as was truly evident at the Rodman and Renshaw Healthcare Conference last week.  It was amazing to me how many people knew about Cellceutix and approached Dr. Menon and I to discuss Kevetrin and the rest of the Cellceutix pipeline.  Our novel cancer drug candidate is garnering quite a lot of attention and we are confident that interest is going to continue to grow as the clinical trials progress.”

Interested parties can access the Cellceutix presentation at the Rodman and Renshaw Annual Global Investment Conference’s (14th Annual Healthcare Conference) at:  www.cellceutix.com/events/.

To learn more about Kevetrin™ and the potent anti-cancer activity that it has demonstrated across multiple cancer lines, please visit: www.cellceutix.com/kevetrin

About Kevetrin™

As a completely new class of chemistry in medicine, Kevetrin™ has significant potential to be a major breakthrough in the treatment of solid tumors. 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.