Important note: Information in this article was accurate in 2002. The state of the art may have changed since the publication date.
PRNewswire - October 30, 2002
The SAB of CytRx recommended a strategy to develop its adjuvant technology (TranzFect) for use in improving existing conventional vaccines, such as Hepatitis B, as well as vaccines currently being developed to prevent diseases associated with bioterrorism, such as Anthrax and smallpox. The TranzFect adjuvant has been licensed to Merck for use in its HIV vaccine, where it has been successfully tested in a Phase I clinical trial.
The SAB also proposed that CytRx increase its emphasis on the drug delivery capabilities of some of its other technologies. This platform will allow CytRx to create additional product opportunities in chemotherapy for indications such as breast cancer, and products to treat antibiotic resistant bacteria for diseases such as Tuberculosis.
The SAB endorsed further development of FLOCOR in the field of cardiovascular diseases, specifically heart attack and stroke. The safety profile of FLOCOR is well established. It has been investigated in over 17 clinical studies representing administration to approximately 4,000 patients and healthy volunteers.
The SAB addressed all of the company's technologies and outlined goals for strategic and technological positioning that CytRx believes could be instrumental in helping to assure its success in the future.
In addition to Dr. Ignarro, participants included Dr. Michael Hayden, Vice-Chairman of the SAB; Leonard Ruiz, Ph.D.; Jeffrey Berg, Ph.D.; Dr. Mark Gelfer; Fariba Ghodsian, Ph.D.; Dr. Robert Hunter; Dr. John Flax; Naomi Zeytin, Ph.D.; Barry Rothenberg, Ph.D.; and Dr. Paul Silka.
CytRx CEO Steven A. Kriegsman, who was present at the meeting, stated, "The visionary strategy developed by this prestigious group of scientists and executives will allow CytRx to develop critically needed vaccines and drugs for underserved market segments. With the invaluable input of the SAB, we will continue the exploitation of our exciting technologies through licensing or strategic alliances."
About CytRx Corporation:
CytRx Corporation is a biopharmaceutical company focused on the development and commercialization of high-value human therapeutics. The company's current portfolio of potential products includes FLOCOR, an intravenous agent for treatment of sickle cell disease and other acute vaso-occlusive disorders, and TranzFect, a delivery technology for DNA-based vaccines. CytRx has licensed TranzFect to Merck & Co., Inc. for use in Merck's efforts to develop DNA-based vaccines for HIV and three other infectious diseases. A number of other uses of TranzFect for enhancement of viral or non-viral delivery of polynucleotides (such as DNA and RNA) have been licensed to Vical, Incorporated. CytRx has a research pipeline in the areas of muscular dystrophy, cancer, spinal cord injury, vaccine delivery, gene therapy and food animal feed additives.
CytRx's wholly owned subsidiary, GGC Pharmaceuticals, Inc., (formerly Global Genomics Capital, Inc.) is a genomics holding company that currently has a forty percent ownership interest in Blizzard Genomics, Inc. in Minneapolis, Minnesota and a five percent ownership interest in Psynomics, Inc., a central nervous system genomics company in San Diego, CA. Blizzard Genomics, Inc. is developing instrumentation, software, and consumable supplies (including patent-pending "T-Chip" and "Contact" technologies) for the genomics industry. GGC expects that DNA chips will significantly impact a broad range of biomedical and agricultural businesses. These include drug development, diagnostic testing, forensics, environmental testing and plant biotechnology. Psynomics, Inc. is a genomics company developing technology for the diagnosis and treatment of neuropsychiatric diseases and has rights to access a significant database of patient data and corresponding tissue sample.
Cautionary Notice About Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward- looking statements, including risks or uncertainties related to the ability of CytRx to identify and enter into licensing agreements or strategic alliances on satisfactory terms with larger companies for the development and marketing of FLOCOR and its other products, the ability of CytRx to identify and consummate agreements to acquire new products with CytRx's limited financial resources, the integration of CytRx and Global Genomics Capital, and the potential need for additional capital for continued operations. Additional uncertainties and risks are described in CytRx's most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K filed since the date of the last Form 10-K. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE CytRx Corporation
Web Site: http://www.cytrx.com
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PR021044
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