Cellceutix Featured on Cover of Prominent Business Journal

BEVERLY, MA--(Marketwire - Jan 23, 2012) - Cellceutix Corporation (OTCBB: CTIX) ("the Company"), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, is pleased to announce that it was featured Friday, January 20th on the front page of the Boston Business Journal print edition. Owned by American City Business Journals, the Boston Business Journal is available in both print and online versions and reaches hundreds of thousands of subscribers each month.

Cellceutix Chief Executive Officer Leo Ehrlich was pictured on the front page at the Company's laboratory in Beverly, MA in an article focused on the bankruptcy of Formatech, Inc. and the impact it had on many biotechnology companies. The online version can be viewed at http://www.bizjournals.com/boston/print-edition/2012/01/20/outsourcing-meltdown-drug.html.

"I am excited to have been not only interviewed by the Boston Business Journal, but to be shown in such a high-profile position heading into the weekend. This really showcases the attention that we are starting to receive as the clinical trials for our anti-cancer breakthrough drug Kevetrin™ are nearing," said Leo Ehrlich. "Reflecting upon where we were just one year ago, the progression at Cellceutix has been amazing. We're ready to enter clinical trials at the most prestigious cancer institute in the world. Our pre-clinical research has produced the type of astounding data that, if confirmed in human trials, can change the landscape of cancer therapies. We are now regularly engaged by major publications and large pharmaceutical companies wanting to know more about us and our compounds. These developments are being echoed in the attention to our stock. We were only trading about 1,000 shares a week at this time in 2011, but now trading has increased about 30-fold on an average week and our share price has appreciated by more than 150 percent. I still feel very strongly that this is only the beginning and once we start clinical trials with both Kevetrin and KM-133, the attention is going to increase exponentially. I have listened to comparisons of Cellceutix to billion-dollar pharmas and will remain relentless in my efforts to bring those associations to fruition for the benefit of shareholders of Cellceutix."

About Cellceutix
Cellceutix Corporation is a preclinical cancer, anti-inflammatory and autism drug developer. More information is available on the Cellceutix web site at www.cellceutix.com.

Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Factors that may impact Cellceutix's success are more fully disclosed in Cellceutix's most recent public filings with the U.S. Securities and Exchange Commission.