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CytRx Awarded Federal Grant to Explore Novel Type 2 Diabetes and Obesity Treatment

Posted on: Wednesday, 27 September 2006, 09:00 CDT

CytRx Corporation (Nasdaq:CYTR) today announced the award of a Small

Business Innovative Research (SBIR) grant of approximately $222,000 to

develop its novel inhibitors to fatty acid synthase for the treatment of

type 2 diabetes and obesity. CytRx was awarded the grant by the National

Institute of Diabetes and Digestive and Kidney Diseases, a part of the

National Institutes of Heath (NIH), based on the Company's

small molecule and structure-based drug design expertise.

Obesity is the single most significant contributor to the pathogenesis

of type 2 diabetes, and a major factor in the increased incidence of

this disease. However, most current therapies for treating type 2

diabetes focus on hyperglycemia control and insulin resistance, rather

than obesity. Fatty acid synthase regulates de novo synthesis of

saturated fatty acids, which play an important role in converting excess

caloric intake into lipids for storage and providing energy when needed.

Elevation of plasma free fatty acid levels is an important clinical

feature in type 2 diabetes and obesity. Funds from the SBIR grant will

be used by CytRx to further develop potential inhibitors of fatty acid

synthase, a target which plays a role in weight gain and insulin

responsiveness in type 2 diabetes.

"We believe this federal grant indicates the

importance of our work in developing a potential treatment for obesity

and type 2 diabetes ----

major worldwide health concerns that are reaching global epidemic

proportions," said Steven A. Kriegsman,

President and CEO of CytRx. "Our ability to

obtain this grant reflects our strong scientific research in which we

used our RNAi technology to assist in validating this drug target,

followed now by our small molecule expertise to further explore this

opportunity."

Jerry W. Skiles, Ph.D., Director of Chemistry, CytRx Corp., is the

principal investigator of the grant and will conduct the grant-supported

studies at CytRx's Drug Discovery research

laboratory in Worcester, Massachusetts.

The SBIR Program was established in 1982 under the Small Business

Innovation Development Act. This is a highly competitive, peer-reviewed

program that encourages small businesses to explore their technological

potential and is intended to support innovative research that has the

potential for commercialization.

Type 2 Diabetes and Obesity Background

Type 2 diabetes and obesity are metabolic conditions with substantial

impact on human health. Both type 2 diabetes and obesity are major

health concerns that have been increasing at an alarming rate during the

last few decades, resulting in costs to the medical system upwards of

$100 billion annually in related medical expenses. In the U.S., it is

estimated that more than 30% of the population is currently obese, which

is defined as more than 30 Body Mass Index (BMI), and approximately 6%

of the adult population has symptoms of type 2 diabetes. These diseases

combined affect approximately 70 million Americans and more than 150

million people worldwide with the number expected to grow significantly

during the next decade.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development

company engaged in the development of high value human therapeutics. The

Company owns three clinical-stage compounds based on its small molecule

"molecular chaperone" co-induction technology. In September 2006, CytRx

announced the receipt of $24.5 million in a non-dilutive agreement with

the privately funded ALS Charitable Remainder Trust to fund continued

arimoclomol development for the treatment for amyotrophic lateral

sclerosis (ALS or Lou Gehrig's disease) in return for one percent

royalty payment from potential worldwide sales of arimoclomol for the

treatment of ALS to The Greater Los Angeles Chapter of The ALS

Association. Arimoclomol has received Orphan Drug status and Fast Track

designation from the U.S. Food and Drug Administration.

CytRx has previously announced that a novel polyvalent HIV DNA + protein

vaccine exclusively licensed to CytRx and developed by researchers at

the University of Massachusetts Medical School (UMMS) and Advanced

BioScience Laboratories, and funded by the NIH, demonstrated very

promising interim Phase I clinical trial results that indicate its

ability to produce potent antibody responses with neutralizing activity

against multiple HIV viral strains. CytRx also has a broad-based

strategic alliance with UMMS to develop novel compounds in the areas of

ALS, obesity, type 2 diabetes and cytomegalovirus using RNAi technology.

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. CytRx Drug Discovery division,

located in Worcester, Mass., focuses on the use of RNAi technologies to

develop small molecule and RNAi therapeutics to treat obesity and type 2

diabetes. For more information, visit CytRx's Web site at 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. Examples of such statements include, but are not limited to,

statements relating to the expected timing, scope and results of our

diabetes and obesity research programs, and statements regarding the

potential benefits of our drug candidates and potential drug candidates.

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 early stage of CytRx's diabetes and obesity

research and the significant time and expense that will be incurred in

developing any potential commercial application based on that research.

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: Business Wire

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