Cellceutix Announces Acquisition of New Compound With High Blood Pressure Lowering Properties
BEVERLY, Mass., Aug. 25, 2009 (GLOBE NEWSWIRE) -- Cellceutix Corporation (OTCBB:CTIX), a bio-pharmaceutical company in the business of developing small-molecule therapies in areas of unmet medical needs, today announced that it has acquired the rights to the compound KM 732, which shows properties in the reduction of high blood pressure.
Preliminary testing in rats revealed that test animals showed a significant decrease in both systolic and diastolic blood pressure compared to controls, with no apparent toxicity. Clinical observation of the animals indicated that blood pressure was reduced within a few minutes of the administration of the compound. The Company plans to conduct proof of concept studies in large animals to evaluate the compound's potential for development to treat hypertensive emergency. Hypertensive emergency is a potentially life-threatening condition characterized by uncontrolled blood pressure leading to damage to other organs.
KM 732 is a small molecule that was developed in a Cellceutix-affiliated laboratory in Pune, India. The compound will now be synthesized in the United States.
Cellceutix CEO George Evans stated: "We believe that one of our strengths as a company is our ability to find new and medically useful compounds to strengthen our pipeline. Hypertensive emergency is a serious condition affecting over 500,000 Americans per year, thus warranting our early investigational efforts into KM732."
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 involves 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. KM 732 has not been studied in humans. Positive results in animal studies do not necessarily predict success in human trials.