Cellceutix Corp. announced today that they have received nearly all the data regarding the toxicology studies for Kevetrin™, the Company’s flagship compound for the treatment of multi-drug-resistant cancers. The remaining data is expected within two or three weeks. This data is the final information required for the Investigational New Drug Application (IND) to be prepared and submitted to the U.S. Food and Drug Administration. In preparation for the filing, Cellceutix has engaged additional consultation to bring Kevetrin to human trials.
George Evans, CEO of Cellceutix, commented, “We are continuing to hit our targets at or ahead of schedule with Kevetrin. The pre-clinical data to date has been extremely encouraging and we expect that these final data are going to fall right into line.” Mr. Evans continued, “We are well aware of the significant impact Kevetrin can provide to patients in need if Kevetrin can perform in human trials as it has in the pre-clinical research. We are presently organizing the team for the IND and doing all possible preparation in order to submit the filing quickly once the final toxicology data is in our hands.”
“I have been closely involved in the development of several successful compounds in my 30 years in the industry and am extremely encouraged by the data that Kevetrin has produced,” stated Dr. Krishna Menon, Chief Scientific Officer of Cellceutix. “The completion of pre-clinical studies creates a great deal of excitement for our team as we are anxious to see Kevetrin being utilized as a human therapy in the near future.”
In a recent interview on CEOCFOinterviews.com, Leo Ehrlich, CFO of Cellceutix is quoted as saying, “Our chief scientific officer, who developed our cancer drug, was a group leader of cancer research at Eli Lilly (NYSE: LLY). He was the key developer of two blockbuster cancer drugs named Alimta and Gemzar, which generate billions of dollars in sales.” The history of CEO George Evans and his extensive experience as General Counsel at Pfizer, coupled with the experiences of Dr. Menon and the rest of the Advisory Board, should make many industry leaders take notice of Cellceutix.
The pre-clinical research of Kevetrin appears to have moved smoothly and quickly with extremely promising data. In the biotechnology world, companies are very careful not to divulge too much information or makes statements that can be misleading as there is always a possibility that drugs will fail as research and testing continues. This makes complete sense from every legal aspect. But, it should not go without recognition that the team at Cellceutix has a very distinguished history.
More due diligence on Cellceutix Corporation, the compounds in the pipeline and the investment opportunity presented can be found on the Company’s website at www.cellceutix.com.
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