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CytRx Establishes Research And Development Team And Opens New Laboratory To Develop Albumin-Binding Anti-Cancer Drug Platform

CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced the appointment of Felix Kratz, Ph.D. as Vice President of Drug Discovery and André Warnecke, Ph.D. as Senior Director of Drug Discovery. Drs. Kratz and Warnecke and their scientific team will expand the Corporation’s novel albumin-binding anti-cancer drug pipeline.

Dr. Kratz, one of the most highly regarded conjugation chemists in oncology, joins CytRx with 25 years of experience in drug discovery and research. Dr. Kratz’s research includes the development of novel, targeted molecules for cancer therapies, with a special emphasis on the use of albumin as a targeting agent. His research in preclinical and early clinical development of these therapies has led to the creation of a number of new cancer-fighting agents that use albumin to concentrate chemotherapeutics inside cancers, including the invention of CytRx’s lead compound, aldoxorubicin. Dr. Kratz has been at the forefront of designing novel agents, using various linker chemistries to create a variety of protein-drug conjugates.

Dr. Warnecke comes to CytRx with 16 years of experience in chemistry research, including the development of chemical architectures for innovative drug release mechanisms and albumin conjugates of anti-cancer agents.

The new laboratory, located in Freiburg, Germany, will conduct discovery and translational research to create drug candidates that utilize novel linker technologies that couple chemotherapeutic agents and proteins either inside the body or externally, and then concentrate drug in tumors. The work done at the laboratory will generate new pipeline product candidates and thereby enable expansion of the Company’s existing patent portfolio, adding to intellectual property that was originally developed by the KTB Tumor Biology Center in Freiburg and licensed exclusively to CytRx.

“Dr. Kratz is one of the most widely published researchers on the use of albumin as a targeting agent for cancer therapies and he brings a tremendous wealth of experience and insight to the development programs at CytRx,” said Steven A. Kriegsman, CytRx President and CEO. “Felix and André have worked side by side for many years and we are quite fortunate to have the opportunity to bring their drug discovery potential in-house.”

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