Cellceutix Corp. (CTIX.OB) Announces Major Compound Acquisition
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…