Visit to Cellceutix Office Yesterday:
I was given a special opportunity to visit with Dr Menon at the home offices of Cellceutix yesterday (September 27th) in Beverly, MA. Leo joined us via conference call at the end of our visit. Here are several personal observations that I pass along to my fellow CTIX investors:
1.)Cellceutix operates within shared space with Kard Scientific, a full-scale laboratory owned by Dr. Menon. I was afforded a full access tour of the facilities which are very impressive, completely state-of-the-art.
2.)I met and had a conversation with numerous staff members, all highly acclaimed (PhD’s and a number of Harvard grad asst’s) in their field of chemistry, microbiology, biology, veterinary science, etc. All were very friendly, passionate about their work, and excited about the possibilities of Kevetrin with the much awaited human trials. It was obvious there was great teamwork and mutual respect and admiration among the staff.
3.)As Leo stated in the email to Progressive, the clinical trial at Dana Farber is scheduled to begin first dose within a few weeks and the websites should be updated shortly to note “actively recruiting.” Beth Israel Deaconess Hospital has received their shipment of Kevetrin. Details about the trials with Pfizer drugs will be forthcoming.
4.)Dr Menon is traveling to India over the next two weeks to visit Dr Reddy’s manufacturing facility for Prurisol. The Phase 2/3 trials will begin in Europe, and then the U.S., and Canada in 2013. If all goes as planned, there is the potential that Prurisol would be ready for the commercial market in 2015.
5.)According to Dr. Menon, their assessment is that Kevetrin is a potential $5 billion a year drug and Prurisol $500 million. Who knows what the future holds . . . licensing, overwhelming big pharma buyout? It is obvious from talking to Dr Menon that he is a man motivated by discovery and scientific innovation, not money.
6.)I walked away from my visit with an even greater sense of admiration for Leo and Dr. Menon, for their mission and vision. These people are the “real deal.” Everyone who has worked with Kevetrin is amazed by its “mechanism of action” (I spoke with the PhD. who discovered it and he was excited to say the least). Dr. Menon mentioned that Kevetrin has exceeded expectations in every test they have given; the “final exam” is whether it will work in humans. That’s the question . . . if it does; we will all be witnesses to a monumental milestone in medical history!
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