BEVERLY, MA–(Marketwire – Jun 6, 2011) – Cellceutix Corporation (OTCQB: CTIX) (PINKSHEETS: CTIX), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat unmet medical conditions, is pleased to report that its toxicology vendor, Toxikon Corporation, is currently presenting its poster “Bioanalytical Method for Kevetrin™” at the American Society for Mass Spectrometry (ASMS) meeting in Denver, CO June 5th – 9th. The poster was accepted for presentation by the ASMS and showcases Kevetrin™, the Company’s novel anti-cancer compound.

The poster explains that Kevetrin™ is a unique compound with distinctive chemistry with hydrophilicity and small molecular size. A novel HPLC-MS/MS method was successfully developed and validated for the determination of Kevetrin™ in plasma. This method met the high standards for performance requirements needed to support pre-clinical toxicology studies and IND submission to the FDA.

In Other News:

Cellceutix is pleased to report that Bilcare Global Clinical Supplies, a business unit of industry-leader Bilcare Ltd., has been contracted as a vendor for the planned clinical trials. More information on Bilcare can be found at http://www.bilcare.com/.

Cellceutix Chief Scientific Officer Dr. Krishna Menon is now attending the annual meeting of the American Society of Clinical Oncology (ASCO) for meetings with other pharmaceutical corporations and vendors.

As also announced in a press release on May 23, 2011, Cellceutix is testing Kevetrin™ against an aggressive form of pancreatic cancer before filing of the Investigational New Drug application with the FDA. The Company is pleased to report that testing is near completion.

Leo Ehrlich, CEO of Cellceutix, commented,

“It is a very busy time at Cellceutix. We are extremely pleased that Toxikon chose to present Kevetrin™ at the ASMS meeting as to what they accomplished, creating the new HPLC-MS/MS method which was another industry first. It is often difficult to help people understand the challenges behind developing Kevetrin™ as there is nothing else like it; so even what may be standard for other drugs requires a completely new process to be established for us. It is this uniqueness that we believe distinguishes Cellceutix as having one of the most promising anti-cancer compounds.”