SOURCE: Cellceutix

December 29, 2014 07:00 ET

Cellceutix Adds Dr. Daniel Jorgensen as Chief Medical Officer

BEVERLY, MA--(Marketwired - Dec 29, 2014) - Cellceutix Corporation (OTCQB: CTIX) (the "Company"), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology and antimicrobial applications, is pleased to announce that Daniel Jorgenson MD, MPH, MBA will join the Cellceutix team as Chief Medical Officer as of January 1, 2015.

Dr. Jorgensen has had an accomplished career in the biopharmaceutical industry. Notably, he held senior leadership positions at Pfizer, where he led the Zmax (single-dose azithromycin) clinical development program; the dalbavancin (second generation glycolipopeptide) medical development team; and Pfizer's first vaccine development group (DNA influenza vaccine). In these leadership roles, he successfully ushered several products from early clinical development through full regulatory approval, both in the U.S. and abroad, playing a key role in NDA submissions and FDA Advisory Committee Meetings. Dr. Jorgensen is a CDC-trained epidemiologist (EIS Officer), and is the former Chief Medical Officer for the State of Montana. He received his BS from Yale, his MD from the University of Wisconsin, his MPH from the University of Washington, and his MBA from Yale. He is board-certified in three medical areas: pediatrics, infectious diseases, and preventive medicine.

Dr. Jorgensen has served as a consultant to Cellceutix, where he was instrumental in the clinical advancement of Brilacidin for Acute Bacterial Skin and Skin Structure Infections (ABSSSI) and Brilacidin-OM for oral mucositis.

"The Zmax program at Pfizer was an important event in the development of single-dose antibiotics for common infections, laying the groundwork for other antibiotics, such as brilacidin. A single-dose regimen, when used appropriately, makes the most sense. It maximizes patient compliance, which can reduce treatment failure and, in theory, curb the development of resistance. It's a benefit to both patient and society", commented Dr. Jorgensen.

Dr. Jorgensen elaborated: "In many ways, brilacidin is the ideal candidate for single-dose therapy. Unlike recently approved short-course antibiotics, brilacidin comes from a novel class of compounds, known as the defensin-mimetics, and has a unique mechanism of action. Resistance, in general, is unlikely to develop. In addition, brilacidin has antibacterial, anti-inflammatory, and anti-biofilm properties, and therefore, the potential to treat a broad spectrum of infectious diseases and inflammatory conditions. I think we are only scratching the surface with ABSSSI and oral mucositis. As Cellceutix's Chief Medical Officer, I look forward to playing a larger role in the development of Brilacidin and the other novel defensin-mimetics in the Company's pipeline".

"Given all of the positive developments at Cellceutix, including those with Brilacidin, the advanced stage of the Phase 1 clinical trial of Kevetrin for solid tumors, and the upcoming Phase 2 trial of Prurisol for psoriasis, I am truly thrilled to be formally joining the Cellceutix team. It's a great way to begin what I expect to be a very exciting year for the Company."

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 antimicrobial 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 will soon begin 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 has recently completed a Phase 1 clinical trial and is being readied for a Phase 2 trial. Prurisol is a small molecule that acts through immune modulation and PRINS reduction. Cellceutix's key antibiotic, Brilacidin, has completed a Phase 2b trial for Acute Bacterial Skin and Skin Structure Infections, or ABSSSI. Top-line data has shown a single dose of Brilacidin to deliver statistically comparable clinical outcomes to the FDA-approved seven-day dosing regimen of daptomycin. Brilacidin has the potential to be a single-dose therapy 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.

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