There is starting to be a steady buzz across the web about Cellceutix Corporation (OTCBB: CTIX) and its novel cancer drug, Kevetrin™. For starters, the p53-activating drug is on tap to begin dosing patients with solid tumors any day now in clinical trials at the vaunted Harvard University’s Dana-Farber Cancer Institute and partner Beth Israel Deaconess Medical Center. Second, Cellceutix has reported that Beth Israel is sponsoring independent trials on Kevetrin in combination with Pfizer (NYSE: PFE) multikinase inhibitor drugs as potential new therapies for renal cancer and melanoma. Now, this weekend, the company said that a major university in Europe has approached them to sponsor and host additional research on Kevetrin targeting leukemia in combination with drugs from one of the world’s biggest pharmaceutical companies.
Big biotechs have and insatiable thirst right now for new drugs as the patent cliff has dampened revenues for many and pipelines are thin for novel drug candidates. Cancer is of particular interest as the revenue stream for a successful cancer drug can easily tally into the billions annually. Additionally, a recent report from the Tufts Center for the Study of Drug Development found that cancer drugs are getting faster approval times at the FDA than all other disease categories combined; giving the already in-demand drugs even greater appeal to big pharma. According to Fierce Biotech , “[the] center concluded that cancer drugs claimed a growing share of the orphan drug market as the total time it requires to take a fast-track drug through development to an approval shrunk by an impressive 1.7 years over the past decade.”
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