CytRx Corporation to Present New Data from Its Proprietary Molecular Chaperone Drug Discovery Technology at the San Diego LEADS Meeting
LOS ANGELES--(BUSINESS WIRE)--Sep 25, 2008 - CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical company engaged in the development and commercialization of human therapeutics, today announced that Bin Zhang, Ph.D., Associate Director of Biochemistry and Screening, will present at the monthly meeting of the San Diego "LEADS" discussion group, the premium San Diego consortium of screening researchers, to be held on October 1, 2008.
Dr. Zhang will be presenting for the first time data on the properties of novel, small molecule chaperone amplifier compounds identified through CytRx's proprietary Master Chaperone Regulator Assay (MaCRA), a cell image-based screening tool. MaCRA has enabled CytRx to rapidly and quantifiably screen large numbers of small molecule compounds to identify potential drug candidates that modify the activity of a protein known as heat shock transcription factor 1 (Hsf1) and consequently control entire groups of molecular chaperone proteins that repair or degrade toxic misfolded proteins present in diseased cells. Evaluation of the compounds identified in the screen has shown that they exhibit cytoprotective properties in cell culture models of disease. Information related to the development of MaCRA for compound screening is slated for publication in the November 2008 issue of the peer-reviewed Journal of Biomolecular Screening.
"This is a great opportunity for CytRx to discuss our drug discovery platform MaCRA with other experts in high-throughput and high-content drug screening," stated Dr. Jack Barber, CytRx Chief Scientific Officer. "The exceptional characteristics of the novel compounds identified so far cause us to be optimistic that MaCRA technology may successfully fuel CytRx's drug pipeline."
About Molecular Chaperone Regulation
CytRx is a leader in molecular chaperone regulation technology. The Company currently has three orally-administered, clinical-stage small-molecule programs and recently discovered a series of additional compounds that provide pipeline leads for additional drug candidates. The Company's drug candidates are believed to function by regulating a normal cellular protein repair pathway through the activation or inhibition of "molecular chaperones." Because damaged proteins are thought to play a role in many diseases, CytRx believes that activation of molecular chaperones that help to reduce the accumulation of misfolded proteins may have therapeutic efficacy in a broad range of disease states. Similarly, CytRx believes that the inhibition of molecular chaperones that normally help protect cancer cells from toxic misfolded proteins may result in the selective destruction of cancer cells.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics. The CytRx drug development pipeline includes six programs in clinical development, including tamibarotene in registration studies for the treatment of acute promyelocytic leukemia (APL). In addition to a portfolio of oncology programs, CytRx is developing two drug candidates identified using the company's proprietary, industry leading molecular chaperone technology which aims to repair or degrade misfolded proteins associated with disease. The Company owns and operates a research and development facility in San Diego. CytRx also maintains a 45% equity interest in RXi Pharmaceuticals (Nasdaq: RXII). For more information on the Company, visit www.cytrx.com
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. Such statements 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 outcome or results of any future identification, development or testing of product candidates based on new molecular chaperone regulation compounds, including their safety and efficacy, and the potential inability to obtain patents that provide commercially significant protection for any new molecular chaperone regulation compounds, as well as other risks and uncertainties described in CytRx's Form 10-Q for the quarter ended June 30, 2008 and other recently filed SEC documents, such as its most recent annual report on 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.
Contact
Acorn Management Partners LLC
John R. Exley III
Phone: 678-602-7864
Email: jre@acornmanagementpartners.com
Posted: September 2008
