Cellceutix Adds Brain Cancer to Growing List of Indications for Its Novel Cancer Drug

BEVERLY, MA--(Marketwire - May 30, 2012) - Cellceutix Corporation (OTCBB: CTIX) (the "Company"), a biopharmaceutical company focused on discovering small molecule drugs to treat unmet medical conditions, including drug-resistant cancers, announced that its recent research has shown that its flagship anticancer compound Kevetrin™ has potent anticancer activity in malignant glioma (brain tumor).

Results from the Company's latest in vitro research activities have shown that treatment of glioblastoma cell line (U-87 MG) with Kevetrin™ reactivates p53. The p53 signaling pathway is a crucial regulator of cell cycle and apoptosis. Remarkably, the p53 signaling pathway is defective in most, if not all, human tumors. In U-87 MG, Kevetrin™ activated p53 which induced the expression of p21 that acts as inhibitor of cell cycle progression. Activated p53 also triggered apoptosis by inducing expression of PUMA.

Glioblastoma joins the growing list of cancer types in which Kevetrin™ has potent anti-tumor activity, which already includes prostate, lung, breast, colon, head & neck, squamous cell carcinoma and a leukemia tumor model.

The Company would also like to inform shareholders that it has registered for the Rodman & Renshaw 14^th Annual Healthcare Conference to be held at the Waldorf Astoria in New York, NY September 9 - 11, 2012.

"As the commencement of the clinical trials for Kevetrin™ draws near, we are aware of the need to inform the broader investment community of our progress," said Leo Ehrlich, Chief Executive Officer at Cellceutix. "This will be our first global investment conference introducing Cellceutix to Institutional Investors, Venture Capital firms, Industry Executives, Private Equity firms and more. Barring any setbacks, we believe that the clinical trials will be well-underway by the Redman & Renshaw Conference. Given the p53 breakthrough and the recent industry focus on immunotherapies and T-cells in cancer research, we anticipate that the attention that we are already receiving will be amplified considerably as we discuss with large-scale investors how Kevetrin™ has taken immunotherapy and chemotherapy to a whole new level."

About Kevetrin™
As a completely new class of chemistry in medicine, Kevetrin™ has significant potential to be a major breakthrough in the treatment of solid tumors. Mechanism of action studies showed Kevetrin's unique ability to affect both wild and mutant types of p53 (often referred to as the "Guardian Angel Gene" or the "Guardian Angel of the Human Genome") and that Kevetrin strongly induced apoptosis (cell death), characterized by activation of Caspase 3 and cleavage of PARP. Activation of p53 also induced apoptosis by inducing the expression of p53 target gene PUMA. p53 is an important tumor suppressor that acts to restrict proliferation by inducing cell cycle checkpoints, apoptosis, or cellular senescence.
In more than 50 percent of all human carcinomas, p53 is limited in its anti-tumor activities by mutations in the protein itself. Currently, there are greater than 10 million people with tumors that contain inactivated p53, while a similar number have tumors in which the p53 pathway is partially abrogated by inactivation of other signaling components. This has left cancer researchers with the grand challenge of searching for therapies that could restore the protein's protective function, which Kevetrin appears to be doing the majority of the time.

About Cellceutix
Headquartered in Beverly, Massachusetts, Cellceutix is a publicly traded company under the symbol "CTIX". It is an emerging bio-pharmaceutical company focused on the development of its pipeline of compounds targeting areas of unmet medical need. Our flagship compound, Kevetrin™, is an anti-cancer drug which has demonstrated the ability in pre-clinical studies to regulate the p53 pathway and attack cancers which have proven resistant to today's cancer therapies (drug-resistant cancers). Cellceutix also owns the rights to seven other drug compounds, including KM-133, which is in development for psoriasis, and KM-391 for the treatment of the core symptoms of autism. More information is available on the Cellceutix web site at www.cellceutix.com.

Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Factors that may impact Cellceutix's success are more fully disclosed in Cellceutix's most recent public filings with the U.S. Securities and Exchange Commission.