Cellceutix Signs Agreement for Kevetrin(tm) API

BEVERLY, Mass., Aug. 17, 2009 (GLOBE NEWSWIRE) -- Cellceutix Corporation
(OTCBB:CTIX), a bio-pharmaceutical company in the business of developing
small-molecule therapies in areas of unmet medical needs, today announced that
it has signed an agreement with Girindus America, Inc., for the manufacture of
Kevetrin active pharmaceutical ingredient. Terms of the agreement were not
disclosed.

"This is a big step toward our short-term goal of filing for an investigational
new drug exemption (IND) with the FDA," said George Evans, CEO of Cellceutix.
"We will use the material manufactured by Girindus to do the last animal studies
needed for the filing of an IND, as well as for phase 1 human trials. We think
Girindus will be an excellent partner for Cellceutix."

Kevetrin is being developed to treat certain cancers. The Company has recently
reported encouraging results in animal models of drug resistant lung cancers.
For more information about these results, please visit the Cellceutix web site
at www.cellceutix.com.

About Cellceutix Corp.:

Headquartered in Beverly, Mass., Cellceutix is an emerging bio-pharmaceutical
company in the business of developing small molecule therapies in areas of unmet
medical needs. It owns the rights to six drug compounds, including Kevetrin,
which it is developing as a treatment for certain cancers, and KM-133, which it
is developing for psoriasis. For more information, visit: www.cellceutix.com.

The Cellceutix Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6397

This press release contains forward-looking statements that are based on our
current expectations, beliefs and assumptions about the industry and markets in
which Cellceutix Corporation operates. Such forward-looking statements involve
known and unknown risks, uncertainties, and other factors that may cause
Cellceutix's actual results to be materially different from any future results
expressed or implied by these statements. Actual results may differ materially
from what is expressed in these statements, and no assurance can be given that
Cellceutix can successfully implement its core business strategy and improve
future earnings.

The factors that may cause Cellceutix's actual results to differ from its
forward-looking statements include: Cellceutix's current critical need for
additional cash to sustain existing operations and meet ongoing existing
obligations and capital requirements; Cellceutix's ability to implement its new
product development and commercialization, enter into clinical trials, expand
the intellectual property portfolio, and receive regulatory approvals in a
timely and cost-effective manner. All forward-looking statements are also
expressly qualified in their entirety by the cautionary statements included in
Cellceutix's SEC filings, including its quarterly reports on Form 10-Q and its
annual report on Form 10-K. Kevetrin has not been studied in humans. Positive
results in animal studies do not necessarily predict success in human trials.

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CONTACT: The Mishra Group, Inc.
Upendra Mishra
(781) 466-9900, ext. 215
Umishra@MishraGroup.com

Cellceutix Corp.
Leo Ehrlich
(978) 633-3623
Leo@Cellceutix.com