Cellceutix's New Chief Operating Officer Dr. James Alexander Addresses Shareholders

BEVERLY, MA--(Marketwired - Oct 31, 2014) - Cellceutix Corporation (OTCQB: CTIX) (the "Company"), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology and antibiotic applications, is pleased to provide a strategic and operations update to shareholders from the Company's newly appointed Chief Operating Officer, Dr. James Alexander. Cellceutix disclosed in an 8-K filing with the U.S. Securities and Exchange Commission (SEC) on October 24, 2014 that the Board of Directors approved the appointment of Dr. Alexander as COO, effective October 27, 2014.

Dr. Alexander, who is board certified in both internal medicine and infectious diseases, has held clinical development and pharmacovigilance positions with SmithKline Beecham, Glaxo, GlaxoWellcome and BioCryst. His efforts have supported the approval of drugs for treatment of bacterial and viral infections, asthma, COPD, and migraine. He has served as a medical consultant to Cellceutix since 2012.

Dr. Alexander said: "To begin, I'd like to thank shareholders for the warm reception that I have received since people learned of my appointment at Cellceutix through the regulatory filing. If there is a theme to the questions I have been asked about my new position, that theme is 'Why did you decide to join Cellceutix now?' I'd like to take a moment to publicly address this question.

"Cellceutix is no longer the nascent biotech that I was first introduced to a couple of years ago. The Company has grown into a formidable firm with the makings of what I believe can be a tremendous pharma success story because of its leadership, its scientists and an extremely promising pipeline. Mr. Ehrlich believed that the timing was right to add to the management team to most efficiently manage a rapidly growing list of drugs in development. I am thrilled to have been offered the position of COO and the challenge to enhance and accelerate the development of the drugs in the Cellceutix pipeline.

"I have been involved in the clinical development of Kevetrin for several years and am excited to continue my involvement with the ongoing trial for patients with refractory solid tumors. I look forward to helping analyze the early data to define parameters for a mid-stage trial, or perhaps two trials depending on the results, looking at specific tumor types. I believe the safety profile of Kevetrin has been very well evaluated in the current trial and is reassuring when Kevetrin is used a single agent and potentially in combination with other therapy.