Cellceutix Anti-Fungal Compounds Awarded $1.5 Million SBIR Grant
June 23 2014 - 7:00AM
Marketwired
Cellceutix Anti-Fungal Compounds Awarded $1.5 Million SBIR Grant
BEVERLY, MA--(Marketwired - Jun 23, 2014) - Cellceutix
Corporation (OTCQB: CTIX) (the "Company"), a clinical stage
biopharmaceutical company developing innovative therapies in
oncology, dermatology, and antibiotic applications, is pleased to
announce that a research collaboration with Fox Chase Chemical
Diversity Center ("FCCDC")(http://www.fc-cdci.com) has led to the
award of a Phase 2B Small Business Innovation Research (SBIR) grant
to FCCDC from the National Institute of Allergy and Infectious
Disease (NIAID) of the National Institute of Health (NIH).
The SBIR grant is for up to $1.5 million over two years and
research will be directed at developing the Cellceutix technology
platform on host defense protein (HDP) mimics for treatment of
disseminated fungal infections, particularly those caused by
Candida species.
"This grant to research our novel compounds dovetails with our
strategy to partner with leading organizations and universities in
the development of new therapeutic agents for some of the most
difficult to treat fungal and bacterial infections," commented Leo
Ehrlich, Chief Executive Officer at Cellceutix. "Candida infections
were recently named in the final rule of the U.S. Food and Drug
Administration's list of qualifying pathogens under the Generating
Antibiotic Incentives Now Act. We clearly see the potential and
value of new drugs for Candida infections and are very pleased that
the funding is now in place for FCCDC to conduct studies on our
compounds in this area."
About Fox Chase Chemical Diversity Center, Inc. Fox Chase
Chemical Diversity Center, Inc. (FCCDC) provides medicinal
chemistry, target validation, in vitro pharmacology and chemical
biology support to investigators at universities, and non-profit
research organizations and foundations. Our goal is to transition
innovative biomedical research technologies into full-fledged drug
discovery and development programs of study. FCCDC has submitted
more than 3,000 small molecule test compound in support of
collaboration and company projects, advancing biomedical
research.
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
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