Cellceutix Signs Material Transfer Agreements for Defensin Mimetic Compounds With Leading Universities
May 27 2014 - 7:00AM
Marketwired
Cellceutix Signs Material Transfer Agreements for Defensin Mimetic
Compounds With Leading Universities
BEVERLY, MA--(Marketwired - May 27, 2014) - Cellceutix
Corporation (OTCQB: CTIX) (the "Company"), a clinical stage
biopharmaceutical company developing innovative therapies in
oncology, dermatology, and antibiotic applications, is pleased to
report that the Company has signed material transfer agreements for
compounds in its defensin mimetics portfolio with major university
laboratories located in New York and New Jersey. These laboratories
do significant government work and have expertise in
anti-infective, anti-fungal and bio-defense applications.
Cellceutix will be shipping the compounds to the university
laboratories in the coming weeks. It is hoped that these
collaborations will result in government assistance in developing
the Company's novel compounds for a broad spectrum of
indications.
Separately, Cellceutix recently presented its defensin mimetics
and antimicrobials at the facilities of one of the world's largest
pharmaceutical companies. Discussions are progressing towards a
material transfer agreement as the pharma wishes to research the
compounds for a variety of uses, although Cellceutix makes no
assurances of a final agreement being reached.
At this time, due to competitive and confidentiality reasons,
the names of the universities and pharmaceutical company will not
be disclosed.
"The material transfer agreements are an important step in the
development of our pipeline in addition to our ongoing clinical
trials and laboratory research," commented Leo Ehrlich, Chief
Executive Officer at Cellceutix. "We were very confident in the
value of defensin mimetics when we acquired these assets last
September and are extremely pleased that other leading
organizations are recognizing the litany of potential uses for
these unique compounds. The presentation at the request of the
global pharmaceutical company went very well and we are hopeful to
move forward with a material transfer agreement, with the
understanding that these things take time when dealing with a large
pharmaceutical firm."
About Cellceutix: Headquartered in Beverly, Massachusetts,
Cellceutix is a publicly traded company under the symbol "CTIX".
Cellceutix is a clinical stage biopharmaceutical company developing
innovative therapies in oncology, dermatology and antibiotic
applications. Cellceutix believes it has a world-class portfolio of
compounds and is now engaged in advancing its compounds and seeking
strategic partnerships. Cellceutix's anti-cancer drug Kevetrin is
currently in a Phase 1 clinical trial at Harvard Cancer Centers'
Dana Farber Cancer Institute and Beth Israel Deaconess Medical
Center. In the laboratory Kevetrin has shown to induce activation
of p53, often referred to as the "Guardian Angel Gene" due to its
crucial role in controlling cell mutations. Cellceutix is planning
a Phase 2 clinical trial with its novel compound Brilacidin-OM for
the prevention and treatment of Oral Mucositis. Brilacidin-OM, a
defensin mimetic compound, has shown in the laboratory to reduce
the occurrence of severe ulcerative oral mucositis by more than 94%
compared to placebo. Cellceutix's anti-psoriasis drug Prurisol is
presently in a bioequivalence crossover clinical trial. Prurisol is
a small molecule that acts through immune modulation and PRINS
reduction. Cellceutix's key antibiotic, Brilacidin, is in a Phase
2b trial for Acute Bacterial Skin and Skin Structure Infections, or
ABSSSI. Brilacidin has the potential to be a single-dose therapy or
a dosing regimen that is shorter than currently marketed
antibiotics for multi-drug resistant bacteria (Superbugs).
Cellceutix has formed research collaborations with world-renowned
research institutions in the United States and Europe, including MD
Anderson Cancer Center, Beth Israel Deaconess Medical Center, and
the University of Bologna. More information is available on the
Cellceutix web site at www.cellceutix.com.
Forward-Looking Statements This press release contains
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
that involve risks, uncertainties and assumptions that could cause
Cellceutix's actual results and experience to differ materially
from anticipated results and expectations expressed in these
forward looking statements. Cellceutix has in some cases identified
forward-looking statements by using words such as "anticipates,"
"believes," "hopes," "estimates," "looks," "expects," "plans,"
"intends," "goal," "potential," "may," "suggest," and similar
expressions. Among other factors that could cause actual results to
differ materially from those expressed in forward-looking
statements are Cellceutix's need for, and the availability of,
substantial capital in the future to fund its operations and
research and development; including the amount and timing of the
sale of shares of common stock to Aspire Capital; the fact that
Cellceutix's compounds may not successfully complete pre-clinical
or clinical testing, or be granted regulatory approval to be sold
and marketed in the United States or elsewhere. A more complete
description of these risk factors is included in Cellceutix's
filings with the Securities and Exchange Commission. You should not
place undue reliance on any forward-looking statements. Cellceutix
undertakes no obligation to release publicly the results of any
revisions to any such forward-looking statements that may be made
to reflect events or circumstances after the date of this press
release or to reflect the occurrence of unanticipated events,
except as required by applicable law or regulation.
INVESTOR AND MEDIA CONTACT: Cellceutix Corporation Leo Ehrlich
(978) 236-8717 Email Contact
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