CytRx Corporation Overview
CytRx is a biopharmaceutical company focused on discovering and developing new therapeutics to treat patients with high unmet needs.
CytRx has a milestone and royalty agreement with Orphazyme A/S (“ORPHA.CO”) for arimoclomol. The agreement can provide CytRx with up to $120M in potential milestones + royalties paid on arimoclomol. Orphazyme is currently studying arimoclomol in clinical trials for 4 indications including Nieman-Pick disease Type C (NPC), amyotrophic lateral sclerosis (ALS), Gaucher disease and sporadic Inclusion Body Myositis (sIBM). Recently, Orpahzyme announced encouraging clinical trial data with arimoclomol in NPC. NPC is a severely debilitating and fatal disease that predominantly affects children. Orphazyme has received FDA Breakthrough Therapy Designation for arimoclomol for NPC. They have announced they will be submitting a New Drug Application (NDA) with the FDA in the first half of 2020 and a Marketing Authorization Application with the European Medicines Agency (EMA) in the second half of 2020. For CytRx, this milestone and royalty agreement represents significant near-term value for our company.
CytRx also has a milestone and royalty agreement with NantCell, Inc. (now called ImmunityBio, Inc.) for aldoxorubicin which is an improved version of the widely used chemotherapeutic agent doxorubicin. The agreement can provide CytRx with up to $343M in potential milestones + royalties paid on aldoxorubicin. Royalties are increasing double digits on soft tissue sarcomas and increasing single digits in all other indications. ImmunityBio is headed by Dr. Patrick Soon-Shiong, the inventor of Abraxane and an albumin research pioneer in oncology. ImmunityBio is developing aldoxorubicin in multiple phase 1b/2 trials in tumors of very high unmet need including pancreatic cancer, head and neck cancer, triple negative breast cancer and colorectal cancer. Early safety and efficacy data from a portion of the studies was presented at Society for Immunotherapy of Cancer's (SITC) 33rd Annual Meeting. The trials combine aldoxorubicin with immunotherapy which will give aldoxorubicin more opportunities to treat patients earlier in their disease state. This milestone and royalty agreement could provide significant payments to CytRx in multiple tumor types for aldoxorubicin.
Centurion BioPharma is a private subsidiary of CytRx focused on oncology research and development. For more information on Centurion BioPharma, click here.