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CytRx Secures Key European Patent for Arimoclomol
Thursday, September 10, 2009
Expanded Protection Covers Arimoclomol’s Use for Central Nervous System Disorders through 2024
Los Angeles, CA -- CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical research and development company engaged in the development of high-value human therapeutics, today announced that it has been granted a key patent by the European Patent Office that covers through 2024 the use of its orally available molecular chaperone amplifier drug candidate arimoclomol for the treatment or prevention of neurodegenerative diseases of the central nervous system (CNS). The granted patent (EP1696922) broadens CytRx’s existing coverage in the EU for arimoclomol that includes composition of matter claims.
"This expanded patent protection is noteworthy as we believe arimoclomol has significant potential in multiple progressive, chronic CNS disorders, such as amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease), Huntington’s disease, Parkinson’s Disease and Alzheimer’s disease, which are increasing in prevalence with longer life expectancy. We are pursuing similar coverage in the U.S. with an active patent application pending," said CytRx President and CEO Steven A. Kriegsman. "Broadened European patent coverage supports our activities to attract a biotechnology or pharmaceutical partner for the development of arimoclomol for all indications on a worldwide basis."
Arimoclomol represents a novel approach to the treatment of CNS disorders by activating molecular chaperones that regulate the normal cellular protein repair pathway. Arimoclomol has the ability to detect proteins that are misfolded and to refold those proteins into the appropriate, non-toxic shape. Arimoclomol is currently being considered as a treatment for ALS and stroke recovery, and other diseases. In August 2009, CytRx reported that arimoclomol had exhibited both statistically significant neuroprotective and neuroregenerative effects in brain cells of animals induced with stroke, offering important insights into its mechanism of action.
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 programs in clinical development for cancer indications, including tamibarotene in a registration study for the treatment of acute promyelocytic leukemia (APL). In addition, CytRx is developing two drug candidates based on its industry-leading molecular chaperone technology, which aims to repair or degrade misfolded proteins associated with disease. CytRx also maintains a 39% equity interest in publicly traded RXi Pharmaceuticals, Inc. (Nasdaq: RXII). For more information on the Company, visit www.cytrx.com.
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 the risk that CytRx will be unable to secure a partnership to fund any further development of arimoclomol for ALS, including any Phase IIb clinical trial, risks relating to the outcome or results of any future pre-clinical or clinical testing of arimoclomol for CNS disorders, including ALS, uncertainties related to the impact of the FDA's clinical hold on our clinical program for arimoclomol for the treatment of ALS on the timing and ability to initiate further clinical development of arimoclomol, risks related to CytRx's need for additional capital or strategic partnerships to fund its ongoing working capital needs and development efforts, risks related to the future market value of CytRx's investment in RXi and the liquidity of that investment, 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.
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