Cellceutix's Cancer Drug Shows No Significant Indications of Toxicity

Cellceutix's Cancer Drug Shows No Significant Indications of Toxicity

Results of Acute Toxicity Studies in Animals

BEVERLY, Mass., July 22, 2009 (GLOBE NEWSWIRE) -- Cellceutix Corporation (OTCBB:CTIX), announced today that it has completed acute toxicity studies in mice and rats with its proprietary pharmaceutical compound Kevetrin(TM). In these studies Kevetrin showed no significant indications of toxicity.

"These results are consistent with other animal studies we have conducted," said Dr. Krishna Menon, President and Chief Scientific Officer of Cellceutix. "Coupled with the results previously disclosed of tumor growth delay in animal models of multi-drug resistant lung cancers, we consider this a significant milestone for our shareholders."

In the acute toxicity mouse study, animals were sorted into 4 groups of twenty animals, each comprised of ten male and ten female mice. One group served as the controls and the other three groups were administered a single dose of 150 mg/kg, 200 mg/kg or 300mg/kg of Kevetrin. Animals were observed for 15 days. Data was periodically collected measuring food consumption, body weight and various blood chemistry parameters. At the conclusion of the 15 day trial, post-mortem examinations were made of all the mice. In this study there were no significant indications of toxicity in the mice that had been dosed with Kevetrin.

In the acute toxicity rat study, animals were sorted into 4 groups of ten animals, each comprised of five male and five female rats. One group served as the controls and the others were administered a single dose of 160 mg/kg, 200 mg/kg or 240 mg/kg of Kevetrin. Animals were followed for 15 days. Data was periodically collected measuring food consumption, body weight and blood chemistry parameters. At the conclusion of the 15 day trial, post-mortem examinations were made of all the rats. In this study there were no significant indications of toxicity in the rats that had been dosed with Kevetrin.

About Cellceutix

Cellceutix is a preclinical cancer and anti-inflammatory drug developer. It owns the rights to six drug compounds, including Kevetrin, which it is developing as a treatment for certain cancers, and KM-133, which it is developing for psoriasis.

The Cellceutix Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6397

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 has not been studied in humans. Positive results in animal studies do not necessarily predict success in human trials.

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