BEVERLY, MA--(Marketwire - March 29, 2010) - Cellceutix Corporation (
"We are extremely excited about the data on KM-391 and the potential for the compound in this area of urgent medical need," said George Evans, CEO of Cellceutix. "Diagnoses of autism are rising dramatically and the disease takes a terrible toll on families. There is a critical need for new treatments for autism and we are pleased to be part of the effort to find them."
"Research on autism has been difficult because there has been no reliable animal model," said Dr. Krishna Menon, Chief Scientific Officer of Cellceutix. "Fortunately, we were able to tap into some cutting edge research to find a promising model for our study."
An audio link discussing this event is at:
http://www.cellceutix.com/news/press-release-audio-3-29-2010.html
For more details about KM-391and the study, please visit the Cellceutix web site at www.cellceutix.com.
About Autism Spectrum Disorders:
Autism is a behavior disorder, characterized by an impairment in social communication, social interaction, and social imagination. Those with autism often have a restricted range of interests and display repetitive behaviors and mannerisms, along with altered reactions to the everyday environment.
More information about autism:
- 1% of the population of children in the U.S. ages 3-17 have an autism spectrum disorder. Prevalence is estimated at 1 in 110 births.
- More children will be diagnosed with autism this year than with AIDS, diabetes & cancer combined.
- 1 to 1.5 million Americans live with an autism spectrum disorder. 1% of the adult population of the United Kingdom have an autism spectrum disorder.
- Fastest-growing developmental disability; 10 - 17% annual growth.
- $60 billion estimated annual cost with 60% of costs in adult services. Cost of lifelong care can be reduced by 2/3 with early diagnosis and intervention.
- Autism receives less than 5% of the current U.S. private research funding, and less than 1% of the total NIH budget, even though it is the most prevalent childhood disorder.
More information about autism spectrum disorders is available on the following websites:
National Institute of Child Health and Human Development (NICHD)
- http://www.nichd.nih.gov
Autism Society of America - http://www.autism-society.org
Autism Speaks, Inc. - http://www.autismspeaks.org
About Cellceutix
Cellceutix Corporation is a preclinical cancer and anti-inflammatory drug developer. Cellceutix owns the rights to eight drug compounds, including Kevetrin™, which it is developing as a treatment for certain cancers, and KM-391, which it is developing for the treatment of autism. More information is available on the Cellceutix web site at www.cellceutix.com.
This Press Release contains forward-looking statements that are based on our current expectations, beliefs and assumptions about the industry and markets in which Cellceutix Corporation operates. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Cellceutix's actual results to be materially different from any future results expressed or implied by these statements. Actual results may differ materially from what is expressed in these statements, and no assurance can be given that Cellceutix can successfully implement its core business strategy and improve future earnings.
The factors that may cause Cellceutix's actual results to differ from its forward-looking statements include: Cellceutix's current critical need for additional cash to sustain existing operations and meet ongoing existing obligations and capital requirements; Cellceutix's ability to implement its new product development and commercialization, enter into clinical trials, expand the intellectual property portfolio, and receive regulatory approvals in a timely and cost-effective manner. 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.
Kevetrin and KM-391 have not been studied in humans at this time. The Company's positive results in animal studies do not necessarily guarantee success in humans, though they may form the basis for beginning Phase 1 trials.
Contact Information:
Contact:
Cellceutix Corp.
Leo Ehrlich
(978) 633-3623