BEVERLY, Mass., March 21, 2011 /PRNewswire/ -- Cellceutix Corporation (OTCQB: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat severe medical conditions including drug-resistant cancers, today announced that it will be presenting a poster titled "Kevetrin™, A Novel Small Molecule, Activates p53, Enhances Expression of p21, Induces Cell Cycle Arrest and Apoptosis in a Human Cancer Cell Line" at the American Association for Cancer Research (AACR) 102nd Annual Meeting 2011 to be held April 2-6, 2011 in Orlando, FL.
Samuel J. Danishefsky, Ph.D, a member of the Cellceutix Scientific Advisory Board, commented, "I continue to be impressed with the data on Kevetrin™. The latest data, to be presented in poster form at the AACR, could prove to be quite significant as a breakthrough in p53 activation and has the potential to help reshape the landscape of therapies available for cancer treatment. I look forward to Cellceutix's transition from pre-clinical to clinical phases with the commencement of Phase I trials and remain excited about the future of Kevetrin™ based on the research conducted to this point."
Dr. Danishefsky was the recipient of the First Annual AACR-CICR Award for Outstanding Achievement in Chemistry in Cancer Research. The award honors novel and significant chemistry research which has led to important contributions to the field of cancer research. Dr. Danishefsky is the Kettering Chair and Director of the Laboratory for Bioorganic Chemistry at the world-renowned Memorial Sloan-Kettering Cancer Center in New York City and a professor of Chemistry at Columbia University. http://www.eurekalert.org/pub_releases/2007-04/aafc-wch040307.php
Cellceutix Chief Scientific Officer, Dr. Krishna Menon, stated, "The positive feedback from Dr. Danishefsky is extremely encouraging as he is regarded among the world's leading chemists. We are privileged to have a man of his caliber on our Scientific Advisory Board." Dr. Menon continued, "We are honored to be selected by the AACR to present a poster on Kevetrin™. We are receiving regular correspondence regarding Kevetrin™ since the p53 breakthrough was announced a few weeks ago and this gives us an opportunity to communicate the data on a personal level with many of the premier oncology researchers from the world's leading companies."
Cellceutix is currently finalizing and reviewing all Investigational New Drug (IND) documentation for submission to the United States Food and Drug Administration, in May 2011.
Cellceutix Corporation is presently a preclinical drug developer. Cellceutix owns the rights to eight drug compounds, including Kevetrin, which it is developing as a treatment for cancers; KM-133, for the treatment of psoriasis; and KM-391, for the treatment of autism. More information is available on the Cellceutix web site at www.cellceutix.com.
Kevetrin, KM133, 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.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Cellceutix Corporation are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
SOURCE Cellceutix Corporation