BEVERLY, Mass., March 31, 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, is pleased to announce that additional research has been concluded on Kevetrin™, the Company's flagship cancer compound. Kevetrin was shown to increase levels of p21, a key protein responsible for cell cycle arrest, in the lymphocytes of mice. Cellceutix will be incorporating the p21 assay into its Investigational New Drug application scheduled to be filed with the Food and Drug Administration in approximately six weeks (May 2011). If the data are duplicated in human studies, p21 as a biomarker will be another major step forward in cancer research for Kevetrin™, which has already been shown to be a non-genotoxic drug that reactivates p53; a major development of its own.
Dr. Krishna Menon, Chief Scientific Officer for Cellceutix, commented, "There has been a big movement in oncology research to establish new biomarkers as they are an earlier measure of activity in the body's cells. p21 has been proven to play a critical role in cell cycle arrest leading to cell death. No one has been able to validate it as a biomarker, to the best of our knowledge, so this will be a major event not only for Cellceutix, but for the cancer clinical trials." Dr. Menon continued, "Increased levels of p21 are not only a predictor of cell death, but a benchmark in judging effectiveness of Kevetrin™. Our pre-clinical research on p21 has met its endpoints and we are optimistic that the upcoming human trials will yield similar results."
Cellceutix Corporation is a preclinical cancer, anti-inflammatory and autism drug developer. Cellceutix owns the rights to eight drug compounds, including Kevetrin, which it is developing as a treatment for certain 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