The Massachusetts Company Cellceutix announced a major acquisition today of a new compound with high blood pressure lowering properties. The emerging, young bio-pharmaceutical company, which is in the business of developing small-molecule therapies in the areas of unmet medical needs, has acquired the right to the compound KM 732.
Preliminary testing revealed that test animals showed a significant decrease in both systolic and diastolic blood pressure compared to controls, with no apparent toxicity. Clinical observation of the animals indicated that blood pressure was reduced within a few minutes of the administration of the compound. The company plans to conduct proof of concept studies in large animals to evaluate the compound’s potential for development to treat hypertensive emergency. Hypertensive emergency is a potentially life-threatening condition characterized by uncontrolled blood pressure leading to damage to other organs.
When asked about the effect this new compound will have on Cellceutix, George Evans who serves as the company CEO said, “We believe that one of our strengths as a company is our ability to find new and medically useful compounds to strengthen our pipeline. Hypertensive emergency is a serious condition affecting over 500,000 Americans per year, thus warranting our early investigational efforts into KM732.”
At the closing bell yesterday, Cellceutix dropped $0.37 to $0.23. With this exciting news, the company may be a sleeping giant and if this new compound does as is advertised, investors will one day regret the day they couldâ€™ve had an up and coming company for pennies on the dollar.