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CytRx Announces the Presentation of Favorable Results from Novel Combination of Aldoxorubicin and Doxorubicin in a Phase 1b



  CytRx Announces the Presentation of Favorable Results from Novel Combination
  of Aldoxorubicin and Doxorubicin in a Phase 1b Clinical Trial at ASCO
  Conference

Combination Safely Delivered to Patients with Advanced Solid Tumors; Objective
                              Responses Observed

2013 ASCO Annual Meeting

Business Wire

LOS ANGELES -- June 3, 2013

CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical research and development
company specializing in oncology, announced that preliminary results from a
Phase 1b clinical trial determined that aldoxorubicin, the Company’s improved
version of the widely used chemotherapeutic agent doxorubicin, administered at
90% of its single agent dose can be safely delivered in combination with
doxorubicin administered at 50% of its single agent dose to patients with
advanced solid tumors. The data from this clinical trial will be discussed
today in a poster presentation at the American Society of Clinical Oncology
(ASCO) conference in Chicago.

The Phase 1b data was included in an abstract, “Phase 1b Trial of Combining
Aldoxorubicin Plus Doxorubicin,” authored by Kamalesh Kumar Sankhala, M.D.;
Sant P. Chawla, M.D.; Victoria S. Chua; Doris Quon, M.D.; Allison Bonk; Vivek
Narashimhan; Monish Sodhi; and Nina Krishna, from the Sarcoma Oncology Center
in Santa Monica, Calif., and Hillary Dinh, Ph.D., Scott Wieland, Ph.D.,
CytRx’s Senior Vice President of Drug Development, and Daniel Levitt, M.D.,
Ph.D., CytRx’s Executive Vice President and Chief Medical Officer. Dr.
Sankhala, of the Institute for Drug Development, Cancer Therapy and Research
Center, University of Texas Health Science Center at San Antonio, presented
the data at the ASCO conference.

“The preliminary trial data show that none of the patients terminated
treatment due to an adverse event and no cardiac toxicities were observed,”
said Dr. Levitt. “This is important as doxorubicin, either alone or in
combination with ifosfamide, is still considered the mainstay chemotherapeutic
agent for the treatment of advanced, unresectable tumors. However, doxorubicin
has significant side effects, including chronic cardiotoxicity, which limits
the dosage to a level below its maximum anti-tumor capabilities. Several
patients in the trial had good objective tumor responses with others
demonstrating prolonged stable disease. It is possible that this unique
combination allows better penetration of each drug into the tumor as well as
an enhanced ability to treat both small and large tumor metastases.”

“We are delighted to share the results of this trial and are pleased that we
were accepted for presentation at the premier oncology conference,” said
Steven A. Kriegsman, CytRx President and CEO. “We plan to continue testing the
combination of aldoxorubicin and doxorubicin at the optimal dose indicated in
the Phase 1b clinical trial to an expanded group of patients with
chondrosarcomas or chordomas to determine safety and preliminary efficacy in
these normally chemotherapy-insensitive malignancies. The purpose of further
evaluation is to extend our intellectual property portfolio and potentially
increase market penetration with aldoxorubicin for the treatment of patients
with solid tumors.”

Studies in animal models of human pancreatic and ovarian cancers conducted at
the Tumor Biology Institute in Freiburg, Germany demonstrated that
aldoxorubicin plus doxorubicin administered at 50% of their respective maximum
tolerated doses provided complete and prolonged tumor remission with minimal
weight loss compared with each drug administered at its individual maximum
tolerated dose. Results of this research were published in the peer-reviewed
International Journal of Pharmaceutics.

Clinical and preclinical trials indicate that aldoxorubicin, which combines
doxorubicin with a proprietary protein-binding linker platform technology,
concentrates doxorubicin at the site of the tumor, thereby reducing the toxic
side effects associated with systemic delivery. CytRx holds the exclusive
worldwide rights to aldoxorubicin, as well as option rights to the platform
technology that serves as the linker with doxorubicin.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company
specializing in oncology. The CytRx oncology pipeline is focused on the
clinical development of aldoxorubicin (formerly known as INNO-206), its
improved version of the widely used chemotherapeutic agent doxorubicin. CytRx
has initiated an international Phase 2b clinical trial as a treatment for soft
tissue sarcomas, has completed its Phase 1b/2 clinical trial primarily in the
same indication, and has initiated a Phase 1b pharmacokinetics clinical trial
in patients with metastatic solid tumors and a Phase 1b study of aldoxorubicin
in combination with doxorubicin in patients with advanced solid tumors. The
Company is initiating an international Phase 3 pivotal trial under a special
protocol assessment (SPA) with aldoxorubicin as a therapy for patients with
soft tissue sarcomas whose tumors have progressed following treatment with
chemotherapy. CytRx is expanding its pipeline of oncology candidates based on
a novel linker platform technology that can be utilized with multiple
chemotherapeutic agents and could allow for greater concentration of drug at
tumor sites. The Company also has rights to two additional drug candidates,
tamibarotene and bafetinib. The Company completed its evaluation of bafetinib
in the ENABLE Phase 2 clinical trial in high-risk B-cell chronic lymphocytic
leukemia (B-CLL), and plans to seek a partner for further development of
bafetinib, and is evaluating further development of tamibarotene. For more
information about CytRx Corporation, visit www.cytrx.com.

Forward-Looking Statements

This press release contains 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 relating to the outcome, timing
and results of CytRx's clinical trials, the risk that any future human testing
of aldoxorubicin, including the conclusion of the Phase 1b clinical testing of
aldoxorubicin in combination with doxorubicin as a therapy for advanced solid
tumors, might not produce results similar to those seen in past human or
animal testing, including the initial Phase 1b results, risks related to
CytRx's ability to manufacture its drug candidates in a timely fashion,
cost-effectively or in commercial quantities in compliance with stringent
regulatory requirements, risks related to CytRx's need for additional capital
or strategic partnerships to fund its ongoing working capital needs and
development efforts, including the Phase 3 clinical development of
aldoxorubicin, and the risks and uncertainties described in the most recent
annual and quarterly reports filed by CytRx with the Securities and Exchange
Commission and current reports filed since the date of CytRx's most recent
annual report. 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:

Investor Relations
Legend Securities, Inc.
Thomas Wagner
800-385-5790 x152
718-233-2600 x152
twagner@legendsecuritiesinc.com
or
Company
CytRx Corporation
David Haen
Vice President, Business Development
(310) 826-5648 x304
dhaen@cytrx.com
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