Cellceutix Announces Kevetrin(TM) in Combination With Radiation Delayed Tumor Growth by Twofold in Head and Neck Cancer Study

BEVERLY, MA--(Marketwire - May 16, 2011) - Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, today provided additional research data on Kevetrin™, its p53 breakthrough anti-cancer compound.

Kevetrin™ was studied as combination therapy with radiation to treat human head and neck cancer lines implanted in animals. While tumors treated with Kevetrin™ or radiation alone each showed significant anti-tumor activity, tumors treated with Kevetrin™ followed by radiation one week later demonstrated superior results in controlling tumor size. Since the sequence of Kevetrin™ followed by radiation outpaced the reverse (radiation then Kevetrin™), Kevetrin™ may be acting as a "radiosensitizer," a term used to describe sensitization of tumor cells to radiation at the cellular level. Further information on the study is available at http://www.cellceutix.com/product-candidates/kevetrin-our-lead-compound.html

Dr. Krishna Menon, Chief Scientific Officer of Cellceutix, commented, "Our research to date has shown the potential of Kevetrin™ as a stand-alone therapy. This additional data demonstrates its value as a combination therapy. We believe the radiosensitizer capacity of Kevetrin™ is once again attributable to its interaction with p53. The data that we have collected in our pre-clinical studies on Kevetrin™ gives me great hope that Cellceutix is developing a drug that one day will have a major impact on cancer treatments."

To provide investors with a greater understanding of Cellceutix, an audio interview has been conducted with The Green Baron Report. The webcast is available for listening or download at http://thegreenbaron.com/Webcasts.htm.

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, KM-133, 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.