Cellceutix Provides Corporate Update

BEVERLY, MA--(Marketwired - Apr 21, 2015) - Cellceutix Corporation (OTC: CTIX) (the "Company"), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology, and antimicrobial applications, is pleased to provide shareholders with a comprehensive update on current corporate activity and pipeline development.

Kevetrin - Refractory Solid Tumors

We began our first-in-human study of Kevetrin in patients with solid tumors in late 2012. At the beginning of April 2015, a total of 39 patients had received multiple doses of Kevetrin. We have found Kevetrin to be extremely well-tolerated, including the recently treated patients who received 450 mg/m2 -- the highest dose yet administered. Laboratory experiments have shown Kevetrin acts by reactivating the key tumor suppressor protein p53, often called the "Guardian Angel Gene," which is nearly always mutated or ineffective in cancer patients. The p53 target has long been a key focus in oncology research, although with limited success due to toxicity problems of candidate drugs. Kevetrin is potentially a breakthrough drug due to its mechanism of action and its safety profile.

While the trial is primarily to evaluate safety of repeated cycles of Kevetrin, it is encouraging that some patients have had stabilization of tumor status during treatment. Further, Kevetrin appears to be having the expected effects on p53 in a number of the patients treated, as measured by increases in the levels of the downstream protein p21 biomarker. According to the latest data, over 50% of patients treated have had increases in the p21 marker. In addition, the effect on p53/p21 appears to be dose-dependent, with patients treated in the cohorts receiving 350 and 450 mg/m2 of Kevetrin showing greater increases in levels of p21. At this time, the Company is saving the full p21 results for an appropriate scientific venue.

The protocol safety committee met on April 13, 2015 to review data for patients treated in the 450 mg/m2 cohort and recommended that the next cohort receive Kevetrin doses of 750 mg/m2 (a 67% increase in dose and 75x the initial dose).

The current protocol was originally designed to evaluate 40 patients. 39 patients have been treated to date, meaning that one patient will receive the 750 mg/m2 to complete enrollment per the original trial design. Because of the stepwise increases in Kevetrin dose that have occurred, and the fact that a maximum tolerated dose has not been identified, Cellceutix has requested amendment of the protocol to allow treatment of additional patients at higher doses of Kevetrin. The Company has been advised that this request has been scheduled for the next Institutional Review Board meeting in late April or early May.