BEVERLY, Mass., Sept. 23, 2009 (GLOBE NEWSWIRE) -- Cellceutix Corporation (OTCBB:CTIX), an emerging bio-pharmaceutical company in the business of developing small-molecule therapies in areas of unmet medical needs, announced today that its officers met with one of the world's largest pharmaceutical companies at the pharma's partnering meeting last week. Cellceutix was invited to introduce its anti-inflammatory drug pipeline in "face to face" meetings with the business development staff of this major pharmaceutical company, whose name was not disclosed. The pharmaceutical company is seeking the best advances in modern medicine to strengthen its R&D portfolio.
"We were taken by surprise to have received this prestigious invitation considering we have released very little information about these specific compounds. To have received this invite is testament to the quality of Cellceutix's compound pipeline and the supporting science," said Leo Ehrlich, chief financial officer of Cellceutix. "As we move the compounds along in development, we will continue to communicate with this pharmaceutical company as well as others. Currently we are expending an enormous effort on Kevetrin, our lead oncology compound, which has consistently shown success in animal models against drug resistant cancers. Of our compounds, this drug is furthest along in preclinical development and we hope to progress it rapidly through Phase 1 clinical studies."
About Cellceutix Corp.:
Headquartered in Beverly, Mass., Cellceutix is an emerging bio-pharmaceutical company in the business of developing small-molecule therapies in areas of unmet medical needs. It owns the rights to seven drug compounds, including Kevetrin, which it is developing as a treatment for certain cancers, and KM-133, which it is developing for psoriasis. For more information, visit: www.cellceutix.com.
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This release contains forward-looking statements with respect to the results of operations and business of Cellceutix Corporation, which involve risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements, be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements are also expressly qualified in their entirety by the cautionary statements included in Cellceutix's SEC filings, including its quarterly reports on Form 10-Q and its annual report on Form 10-K. Positive results in animal studies do not necessarily predict success in human trials.