Tallahassee, FL 3/19/12 (StreetBeat) -- Cellceutix Corporation (OTCBB:CTIX) continues to align itself with the biggest names in oncology research in the world. This truly sets the company apart from most of it developmental peers, regardless of exchange-listing or size. The company has released news recently about FDA document submissions seeking guidance on 505(b)(2) clearance for its psoriasis drug (which has provider stellar pre-clinical data) in addition to the clinical trials for its flagship cancer drug, Kevetrin™, which should be starting at Dana-Farber in the coming months.Disclosure reasons prevent Cellceutix from revealing many of the “behind the scenes” activities that are building a solid backdrop for a drug that is apparently garnering a lot of attention from major pharmaceutical companies and medical centers. In a press release last year, the company disclosed that it had signed a CDA with one of the world’s largest pharmaceutical companies regarding Kevetrin™, which is a very rare occurrence for a drug so early in development. Even rarer is the fact that Dana-Farber, the exalted cancer research center, will be hosting the clinical trials for Kevetrin™. Our research came-up empty trying to find another company with a market cap as small as Cellceutix that ever had Dana-Farber host a clinical trial. Trials are generally reserved for major pharma.
Today, Cellceutix released news that it has signed a collaboration agreement with Beth Israel Deaconess Medical Center, a teaching hospital of Harvard Medical School, on an innovative research project with Kevetrin™. The Medical Center wishes to exploit the nuclear and/or mitochondrial pro-apoptotic function of p53 in melanoma and renal cell carcinoma, two types of cancer that are particularly resistant to therapy.
The collaborative studies are completely independent from the planned clinical trials for Kevetrin™ that will be conducted at these cancer centers and sponsored by Cellceutix.
"It is quite a milestone accomplishment to have major universities and hospitals beginning to study our compound," said Leo Ehrlich, Chief Executive Officer at Cellceutix. "Other parties and grants will cover the cost of the study. There are many benefits to working with a member of the premier university hospital in the world. Beth Israel Deaconess Medical Center will be researching Kevetrin™ for indications in addition to those which we will be studying in our company-sponsored clinical trials. If they collect promising data in their research of Kevetrin™ in melanoma and renal cell carcinoma, additional grant and government funding may become available to further study these separate indications, saving us substantial time and money towards the end goal of commercialization."
Putting together the pieces of the puzzle is creating an image of a company with enormous potential that is trading at 50 cents.
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