Cellceutix's Kevetrin(TM) Slows Pancreatic Cancer Tumor Growth by 94%; Protocol Towards Clinical Trials Nearing End

BEVERLY, MA--(Marketwire - Jun 20, 2011) - Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX) today reported that its anti-cancer compound, Kevetrin™, has demonstrated potent anti-tumor activity in the treatment of a pancreatic carcinoma cell line in a xenograft tumor model. After three weeks of studies, results testing Kevetrin™ against Pancreatic Carcinoma Cell line MIA-PaCa-2 showed average tumor volume shrinkage of 67% and a tumor growth delay of greater than 94% with no significant weight loss in the animals.

Given the strong results, Cellceutix is continuing to treat animals with Kevetrin™ for a second cycle to further evaluate efficacy. Additional cycles of administration could also establish that Kevetrin does not induce resistance to the cancer cells.

"Kevetrin™ simply continues to impress," stated Dr. Krishna Menon, CSO of Cellceutix. "In reality, the nearly 100% tumor growth delay was underestimated as the tumors in one of the Kevetrin treated mice never reached 500mm³. Therefore, it had to be omitted from that set of data; otherwise the figure would have been even higher. Preliminary data from the second cycle of dosing, initiated when tumors had reached 2200mm³, is again showing reduction of tumor growth, reinforcing the idea of no resistance towards Kevetrin™ developing and the sheer potency of our compound. In all my years as a researcher, I have never seen anything like Kevetrin™."

"We look forward to providing our investors with a multitude of data and updates in the upcoming weeks," commented Cellceutix CEO Leo Ehrlich. "We are eagerly awaiting the conclusion of the pancreatic research. Additionally, we are reaching the final stages of the procedural process with one of the United States' most prominent cancer centers regarding the Phase I clinical trial which we will be able to disclose shortly. The culmination of this process is the filing of the Investigational New Drug Application (IND) with the US FDA."

About Cellceutix

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 www.cellceutix.com.

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, KM133, 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.