Cellceutix Comments on New York Times Article Heralding p53 Drugs as the New Age in Cancer Research

Cellceutix Corporation (OTCBB: CTIX) (the "Company"), a clinical stage biopharmaceutical company focused on discovering small molecule drugs to treat unmet medical conditions, including drug-resistant cancers and autoimmune diseases, today provides commentary on a front page New York Times article published December 23, 2012 titled, "Genetic Gamble; New Approaches to Fighting Cancer."

The article, authored by Gina Kolata, discusses a seismic change in the direction that cancer research may undergo. Major pharmaceutical companies are striving to conduct clinical trials testing their drug candidates against a wide range of cancers, regardless of the tumor's origin. More succinctly, the article focuses on the key protein p53, often referred to as the "Guardian Angel Gene," and initiatives by Merck & Co., Roche Holding Ltd., and Sanofi SA in "racing to develop their own versions of a drug they hope will restore a mechanism that normally makes badly damaged cells self-destruct and could potentially be used against half of all cancers."

"I am pleased to see such a high profile article being written on the game changing impact that a p53 drug can have on treating cancers," said Leo Ehrlich, Chief Executive Officer of Cellceutix. "While I am disappointed that Cellceutix was not mentioned in the article, I understand that the article was likely written before Cellceutix's clinical trials began. The facts are while other compounds mentioned are not yet in clinical trials, or ready for clinical trials, our flagship p53 compound, Kevetrin is currently in phase 1 trials ongoing at Harvard's Dana-Farber Cancer Institute and Beth Israel Deaconess Medical Center. I believe that a discerning examination of the article and publicly available information shows that we are not only ahead of these larger companies, but we have a better mechanism which is more likely to function against most cancers. Our research to date shows that Kevetrin affects both wild and mutant types of p53, a claim that to the best of our understanding, the other companies cannot make. It is true that Roche has had Nutlins in clinical trials for years, but has faced ongoing challenges. Our data shows that Kevetrin is non-genotoxic, meaning that it does not damage surrounding normal DNA."