Cellceutix Initiates Clinical Trial of Prurisol as New Treatment for Psoriasis

BEVERLY, MA--(Marketwired - Mar 25, 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 the initiation of the Company's clinical trial of its oral, small molecule drug candidate Prurisol™ for the treatment of psoriasis. The Prurisol™ tablets have been delivered to the clinical site in Miami, Florida and screening of subjects can now begin with the first dosing expected in the coming days.

Cellceutix has reported the initiation of the study to the www.clinicaltrials.gov website and expects the updates to be reflected soon.

"We are excited to now have three clinical trials ongoing for our portfolio of drug candidates," commented Dr. Krishna Menon, Chief Scientific Officer at Cellceutix. "Not only is there no cure for psoriasis, but the biologics that are so commonly used today have been shown to frequently become ineffective in a relatively short period of time, leaving a tremendous market opportunity for a new drug. Being that Prurisol is a small molecule, it is less likely that the body will develop antidrug antibodies, as it does with biologics to stifle their efficacy. The preclinical data showing that Prurisol essentially eliminated all traces of psoriasis without signs of recurrence leaves us extremely optimistic about the potential of the compound as it enters human trials."

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 in Miami, FL. 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.

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