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CytRx Reaches Enrollment Target in International Phase 2b Clinical Trial with Aldoxorubicin as First-Line Treatment for Soft

  CytRx Reaches Enrollment Target in International Phase 2b Clinical Trial
  with Aldoxorubicin as First-Line Treatment for Soft Tissue Sarcoma

      Late-stage clinical trial directly compares efficacy and safety of
                        aldoxorubicin with doxorubicin

      Progression-free survival data expected in the second half of 2013

Business Wire

LOS ANGELES -- June 24, 2013

CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical research and development
company specializing in oncology, announced that it has reached the targeted
enrollment of 105 evaluable patients in its international Phase 2b clinical
trial with aldoxorubicin as a first-line treatment for soft tissue sarcoma.
This trial allows for a head-to-head clinical comparison of the efficacy and
safety of the commonly used chemotherapeutic agent doxorubicin with
aldoxorubicin, CytRx’s improved version of doxorubicin.

“Achieving this key milestone puts us on track to report highly anticipated
progression-free survival data from the Phase 2b clinical trial in the second
half of 2013,” said Steven A. Kriegsman, CytRx President and CEO. “Doxorubicin
is a well-known chemotherapy drug, having been used by the medical community
for decades, and it is the current standard of care for advanced, metastatic
soft tissue sarcoma as well as numerous other cancers. Doxorubicin, however,
has many side effects, including potential damage to the heart muscle. These
side effects limit the dosage of doxorubicin to a level below its maximum
anti-tumor capabilities.

“Aldoxorubicin is formulated using a novel linker technology designed to
safely deliver higher concentrations of doxorubicin directly to tumors, which
could improve effectiveness while reducing toxicity. In fact, the Phase 2b
clinical trial is comparing a dose of aldoxorubicin that delivers doxorubicin
at 3.5 times the dose of doxorubicin in the comparator arm of the trial,” he
added. “Last month, the independent Data Safety Monitoring Committee
overseeing the Phase 2b trial recommended conducting the trial to completion,
indicating that the Committee had found no significant safety issues with
aldoxorubicin, even at this high dose.”

In the Phase 2b clinical trial, patients with metastatic locally advanced or
unresectable soft tissue sarcoma who have not been previously treated with any
chemotherapy are randomized into two groups with twice as many receiving
aldoxorubicin as doxorubicin. In addition to the primary objective of
measuring median progression-free survival, the Phase 2b trial will evaluate
tumor response and overall patient survival. The trial is being conducted at
clinical sites in the U.S., Hungary, Romania, Russia, Ukraine, India and
Australia.

CytRx expects to evaluate aldoxorubicin in additional indications, and the
linker molecule has broad utility with the ability to attach to multiple
widely used chemotherapeutic agents. One or more of these agents may be
incorporated in CytRx’s future development plans. CytRxholds exclusive
worldwide rights to aldoxorubicin, as well as option rights to the linker
platform technology.

AboutCytRx 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
reached targeted enrollment in an international Phase 2b clinical trial with
aldoxorubicin as a treatment for soft tissue sarcomas, has completed its Phase
1b/2 clinical trial primarily in the same indication and a Phase 1b study of
aldoxorubicin in combination with doxorubicin in patients with advanced solid
tumors, and is conducting a Phase 1b pharmacokinetics clinical trial in
patients with metastatic solid tumors. The Company is initiating a 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, including its Phase 2b clinical trial
with aldoxorubicin as a first-line treatment for soft tissue sarcoma, the risk
that any future human testing of aldoxorubicin might not produce results
similar to those seen in past human or animal testing, 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
At the Company
CytRx Corporation
David Haen
Vice President, Business Development
310-826-5648 x304
dhaen@cytrx.com