Cellceutix Signs CDA for Autism Drug

Cellceutix Corp. has entered into a Confidential Disclosure Agreement (CDA) with a large pharmaceutical company for KM-391, its novel compound being developed as a treatment for autism.

Cellceutix chief executive officer, Leo Ehrlich, commented, “This is simply another vote of confidence from large pharma as to the strength of our pipeline and a testament to the attention that we are receiving on a global level. While signing a CDA does not imply or guarantee that a licensing deal or any other transaction will happen, it is important in the sense of industry recognition of our compounds, as the signing of a CDA this early in development is generally a very rare occurrence.”

Cellceutix’s formulation manufacturer, Formatech, has completed production of Kevetrin for use in trials. Kevetrin is a compound targeting lung, breast, colon and other cancers not responding to existing drug therapies. Cellceutix is on schedule to file its IND with the FDA in May 2011.