BEVERLY, Mass., April 11, 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 their recent poster at the 102nd Annual Meeting of the American Association for Cancer Research (AACR) generated significant interest from major Pharmaceutical companies and numerous investigators. The poster, entitled, "Kevetrin™, A Novel Small Molecule, Activates p53, Enhances Expression of p21, Induces Cell Cycle Arrest and Apoptosis in a Human Cancer Cell Line" was showcased by Cellceutix at the AACR Meeting held April 2-6, 2011 in Orlando, FL. The poster is available for viewing on www.cellceutix.com.
Cellceutix was represented by its Chief Scientific Officer, Dr. Krishna Menon, and two of its scientific consultants, Dr. Ashok Kumar and Dr. Sylvia A. Holden. Dr. Holden received her PhD from Boston University followed by an NIH-funded post-doctoral fellowship at Dana-Farber Cancer Institute in the Division of Cancer Pharmacology headed by chemotherapy pioneer and Cellceutix Scientific Advisor, Dr. Emil Frei III. Before joining Cellceutix, Dr. Holden was the Director of Pharmacology at EMD Serono in Billerica, MA (Merck KGaA) and Director of Tumor Biology at Shionogi BioResearch Corp., in Lexington, MA (presently Synta Pharmaceuticals). She was awarded 5 US patents and has published over 100 publications in peer-reviewed journals, including 12 first-authored papers and publications in Science and Nature Medicine.
Commenting on the poster session, Dr. Holden stated, "I have been participating in the AACR annual meeting for more than twenty years and I can't recall a poster session ever being as active as Cellceutix's was this year. There were people waiting at our poster before we had arrived and a steady flow of elite scientists at all times up to and through the closing of the session." Dr. Holden continued, "The manner in which people gravitated to Cellceutix to learn about Kevetrin and its p53 breakthroughs attests to the value of Kevetrin as a novel cancer therapy. We were approached for in-depth conversations by representatives of the world's largest pharmaceutical companies and most prestigious universities in the United States. Moreover, we held a meeting with the National Cancer Institute to discuss the future for Kevetrin development as well. Now that people have gotten a first-hand look at our research explaining the mechanism of action for Kevetrin, the interest that was starting to brew is truly intensifying as organizations of all sizes want to continue discussions back at our offices and lab."
Additionally, the Cellceutix team was proud that once again during this year's convention, Cellceutix Scientific Advisor, Dr. Emil Frei III, was honored by the AACR. Dr. Frei was a previous recipient of accolades from the AACR as the inaugural AACR Award for Lifetime Achievement in Cancer Research was given to him in 2004. In 2009, the AACR recognized Cellceutix cancer drug Kevetrin, as an elite drug in development due to promising potency during its first "Frontiers in Basic Cancer Research Meeting."
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 http://www.cellceutix.com.
Kevetrin, KM-133, 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.
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