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CytRx to Present at the Metabolic Diseases World Summit

Posted on: Wednesday, 29 June 2005, 09:00 CDT

LOS ANGELES, June 29 /PRNewswire-FirstCall/ -- CytRx Corporation , a biopharmaceutical company engaged in the development and commercialization of human therapeutics primarily in the area of small molecules and ribonucleic acid interference (RNAi), today announced that Jack Barber, Ph.D., Senior Vice President, Drug Development of CytRx Corporation, and Mark Tepper, Ph.D., President of CytRx Laboratories and Corporate Vice President of CytRx Corporation, will be presenting at the Metabolic Diseases World Summit. The conference is being held June 29-July 1, 2005 at the Doubletree Hotel San Francisco Airport in Burlingame, California.

"We believe our small molecule and RNAi technologies provide two novel approaches to finding solutions for treating metabolic diseases such as diabetes and obesity, which are major public health concerns for people around the world," said Steven A. Kriegsman, President and CEO of CytRx. "Given that private health insurance spending on illnesses related to obesity, such as diabetes, heart disease and cancer, has increased more than tenfold since 1987, we are exceptionally pleased to showcase our work at a conference that is bringing together scientists and researchers from large pharmaceutical and biotechnology firms, academia and institutions to explore the newest research in treatment of metabolic syndrome."

Dr. Barber's presentation, entitled "Development of Chaperone Co-induction Activators for the Treatment of Type 2 Diabetes & Complications," will discuss arimoclomol, one of CytRx's small molecule chaperone co-induction candidates, which has shown efficacy in preclinical animal models with diabetes, both alone and in combination with the commonly prescribed drug metformin. His presentation is on Thursday, June 30 at 11:00 a.m. PDT.

Dr. Tepper's presentation, entitled "Use of RNA Interference Technology to Drive the Discovery & Development of Molecular Based Medicines to Treat Diabetes & Obesity," will discuss the RNAi gene silencing technology that CytRx is using to discover and develop both traditional small molecule drug candidates and new RNAi-based therapeutics. His presentation is on Thursday, June 30 at 9:30 a.m. PDT.

The conference is being sponsored by GTCbio (Global Technology Community). More information, including a detailed agenda and registration information, can be found at http://www.gtcbio.com/confpage.asp?cid=17.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company engaged in the development of products, primarily in the area of small molecules and ribonucleic acid interference (RNAi), in a variety of therapeutic categories. The Company owns three clinical-stage compounds based on its small molecule molecular "chaperone" co-induction technology, as well as a targeted library of 500 small molecule drug candidates that may be used to screen for new drug candidates. The Company expects to enter a Phase II clinical trial with its lead orally-administered small molecule drug candidate, arimoclomol, for the treatment of ALS. CytRx has a broad-based strategic alliance with the University of Massachusetts Medical School (UMMS) to develop novel compounds in the areas of ALS, obesity, type 2 diabetes and cytomegalovirus (CMV) using RNAi technology. CytRx also licensed from UMMS the rights to a DNA-based HIV vaccine technology currently in a Phase I clinical trial. The Company has a research program with Massachusetts General Hospital, Harvard University's teaching hospital, to use RNAi technology to develop a drug for the treatment of ALS. For more information, visit CytRx's Web site at http://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, 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 early stage of CytRx's diabetes, obesity, CMV and ALS research, the need for future clinical testing of any RNAi-based products and small molecules that may be developed by CytRx, uncertainties regarding regulatory approvals for clinical testing and the scope of the clinical testing that may be required by regulatory authorities for its molecular chaperone co-induction drug candidates, including arimoclomol, and other products and the outcomes of those tests, the significant time and expense that will be incurred in developing any of the potential commercial applications for CytRx's RNAi technology or small molecules, CytRx's need for additional capital to fund its ongoing working capital needs, including ongoing research and development expenses related to its molecular chaperone co-induction drug candidates, risks relating to the enforceability of any patents covering CytRx's products and to the possible infringement of third party patents by those products, and the impact of third party reimbursement policies on the use of and pricing for CytRx's products. 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.

CytRx Corporation

CONTACT: Ed Umali, Director of Corporate Communications of CytRxCorporation, +1-310-826-5648 ext 309, eumali@cytrx.com; or Investor Relations,Jody Cain, jcain@lhai.com, or Bruce Voss, bvoss@lhai.com, both ofLippert/Heilshorn & Associates, +1-310-691-7100, for CytRx Corporation

Web site: http://www.cytrx.com/http://www.gtcbio.com/confpage.asp?cid=17

Source: PRNewswire-FirstCall

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