Cellceutix to File Investigational New Drug Application for Novel p53 Anti-Cancer Drug

Cellceutix Completes Clinical Protocol with Hosting Hospital; Receives Signed Forms Needed for Filing Investigational New Drug Application

BEVERLY, MA–(Marketwire – Oct 25, 2011) – Cellceutix Corporation (OTCBB: CTIX) (“the Company”), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, announced today the clinical protocol for the planned Phase 1 clinical trial of its anti-cancer drug Kevetrin™ has been completed. The Company received from the Principal Investigator at the Massachusetts-based hosting hospital signed Forms FDA 1572, 3454, and 3455, the final documents needed by Cellceutix to file the Investigational New Drug (IND) application. Cellceutix will now be collating, copying and binding its IND application for submission to the Food and Drug Administration (FDA).

Cellceutix CEO Leo Ehrlich stated, “This is a remarkable milestone for Cellceutix. A small Company such as ours has developed the only known non-genotoxic anti-cancer agent to affect both wild and mutant types of p53. We went to the extreme in pre-clinical research, putting Kevetrin through the rigors in order to better understand the compound. We are very optimistic that the results we have seen to date will carry into the clinical trials. As such, it would mean that we have perhaps one of the world’s most promising and valuable anti-cancer drugs. Combine that with the planned clinical trials being hosted at the world’s foremost cancer center, and there is a lot for the Cellceutix family to be proud of and look forward to in the coming months. The day that we have all been waiting for is nearly here.”

Additionally, the Company is pleased to report that all required documentation has been submitted to and approved by FINRA and Cellceutix is now trading on the OTC Bulletin Boards. Mr. Ehrlich said, “The move back to the Bulletin Boards is another step towards our goal of a NASDAQ listing in the future. We feel that we are firmly on course towards building substantial long-term shareholder value.”