Cellceutix Selects Dr. Reddy's Laboratories for Formulation of Brilacidin for Ophthalmic and Otitis Infections

Cellceutix Selects Dr. Reddy's Laboratories for Formulation of Brilacidin for 
Ophthalmic and Otitis Infections 
New Laboratory Research Supports Potential of Brilacidin for Middle
Ear Infections 
BEVERLY, MA -- (Marketwired) -- 02/24/14 --  Cellceutix Corporation
(OTCQB: CTIX) (the "Company"), a clinical stage biopharmaceutical
company developing innovative therapies in oncology, dermatology, and
antibiotic applications, announces today that the Company has
concluded negotiations with formulation developers and selected Dr.
Reddy's Custom Pharmaceutical Services (CPS), part of the
Pharmaceutical Services and Active Ingredients (PSAI) business unit
of Dr. Reddy's Laboratories Ltd. ("Dr. Reddy's"), a New York Stock
Exchange-listed company traded under the ticker "RDY", for the
formulation of the Company's defensin mimetic drug Brilacidin for use
in ophthalmic and otitis infections. 
Laboratory research on Brilacidin conducted at the Charles T.
Campbell Ophthalmic Microbiology Laboratory demonstrated the safety,
tolerability and broad activity of Brilacidin against drug-sensitive
and drug-resistant clinical isolate strains of ocular infections.
Additional research by Contract Research Organization Iris Pharma
showed that Brilacidin has a high residence time on the surface of
the eye with negligible systemic exposure, suggesting that Brilacidin
has the potential to treat ophthalmic infections, such as
conjunctivitis and keratitis, with a limited dosing regimen.  
Cellceutix is pleased to report that in an ongoing study, Brilacidin
has shown excellent results in preliminary testing of middle ear
(otitis media) infection. In the study done in the Chinchilla Model
of Otitis Media, Brilacidin drastically reduced the number of
bacterial counts of Streptococcus pneumonia in the middle ear and had
no toxic effect. Chinchilla otitis models are an excellent indicator
if the drug will work in humans. We are waiting for additional
pathology results and additional testing is planned. Once all data is
confirmed, Cellceutix will publish the results. 
Acute otitis media is one of the most common pediatric illnesses and
also a leading cause of conductive hearing loss. About 2.2 million
cases of otitis media with ear effusion occur annually in United
States. Over seven hundred million (700,000,000) cases of acute
otitis media occur worldwide each year.  
Ear infection joins the growing list of indications of treatment of
disease in which Brilacidin has potent efficacy. 
"We are presently in a Phase 2b trial with Brilacidin for serious
skin infections. Additional laboratory studies on Brilacidin have
been ongoing and I am pleased to say we are more impressed than ever
on the drug's potential. Due to the unique properties of Brilacidin
as a defensin mimetic and a possible one-time or even a three-day
drug treatment to patients, we see an FDA approved Brilacidin for
ABSSSI having the potential to knock off the present market leader
who is presently generating approximately $1,000,000,000 in yearly
sales. Expanding our Brilacidin franchise as a potential new therapy
for eye and inner ear infections is a very important project for us
as we view the aggregate market potential for these indications as
very significant," comments Leo Ehrlich, Chief Executive Officer at
Cellceutix. "After undertaking an intense due diligence process to
identify the best formulator for the job, Dr. Reddy's was the clear
choice as they have shown a deep understanding of what we want to
accomplish. Their recent acquisition of OctoPlus in the Netherlands
was a big addition to their already highly talented team as OctoPlus
specializes in complex formulations. We are extremely optimistic
about Brilacidin for ophthalmic and ocular indications based upon
research to date and look forward to having this potentially
game-changing drug in more clinical trials." 
Commenting on this development, Dr. R Ananthanarayanan, President,
PSAI Business, Dr. Reddy's said, "Dr. Reddy's CPS has extensive
knowledge in manufacturing and formulating anti-infective
therapeutics. We are already working with Cellceutix on the
manufacturing of Prurisol(TM) and are excited to work with them on
the development of Brilacidin. Our expertise in both APIs and
formulation development will assist Cellceutix in the clinical
progression of Brilacidin." 
About Dr. Reddy's 
 Dr. Reddy's Laboratories Ltd. "NYSE: RDY" is an
integrated global pharmaceutical company, committed to providing
affordable and innovative medicines for healthier lives. Through its
three businesses -- Pharmaceutical Services and Active Ingredients,
Global Generics and Proprietary Products -- Dr. Reddy's offers a
portfolio of products and services including APIs, custom
pharmaceutical services, generics, biosimilars, differentiated
formulations and NCEs. Therapeutic focus is on gastro-intestinal,
cardiovascular, diabetology, oncology, pain management,
anti-infective and pediatrics. Major markets include India, USA,
Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New
Zealand. For more information, log on to www.drreddys.com. 
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 being readied
for clinical trials at sites in the U.S. and Europe. Prurisol is a
small molecule that acts through immune modulation and PRINS
reduction. Cellceutix's key antibiotic, Brilacidin, has begun a Phase
2b trial in February 2014 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 
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.
Cellceutix Corp.
Leo Ehrlich
(978) 236-8717
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