Cellceutix Corp. has signed an agreement with a EU clinical site for a Proof-of-Concept (PoC) trial of Prurisol, the company’s lead drug candidate for the treatment of psoriasis. The trial, a double-blind study, is planned for 1Q13 and will include patient dosing over a 30-day period with follow up visits over the next 30 days.
 
“Our lab research showed Prurisol to visually eliminate all traces of psoriatic tissue in human xenograft models in a short period of time. We are very optimistic that the lab research will be replicated in a clinical setting,” said Leo Ehrlich, chief executive officer at Cellceutix. “There are more than two million people in the U.S. that suffer from psoriasis with few effective therapies available. We believe that a new therapeutic bridging that gap could generate sales in excess of $1 billion annually. A PoC trial in Europe was the answer. The trials early next year are another milestone for us to continue to build value for our shareholders.”