Investor Relations - 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 (Nasdaq - "ORPH") for arimoclomol. The agreement can provide CytRx with up to $100M in potential milestones as well as royalties paid on arimoclomol. Orphazyme is currently studying arimoclomol in Nieman-Pick disease Type C (NPC) and Gaucher disease. Orphazyme has submitted an MAA with the EMA for arimoclomol for NPC and recently held a Type A meeting with the FDA. NPC is a severely debilitating and fatal disease that predominantly affects children. Orphazyme has also received FDA Breakthrough Therapy Designation for arimoclomol for NPC. They launched an Early Access Program for NPC in January 2020 to further accelerate access to treatment with arimoclomol for people living with NPC. For CytRx, this milestone and royalty agreement represents significant near-term value for our company.
CytRx also has a milestone and royalty agreement with 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 has highlighted aldoxorubicin as one of three separate modalities of its platform. They recently announced updates on Cohort C of its Phase 2 registrational-intent study for first-line and second-line locally advanced or metastatic pancreatic cancer, which includes aldoxorubicin. In addition, they are pursuing clinical trials in glioblastoma, triple negative breast cancer and head and neck. ImmunityBio is reviewing options in Soft Tissue Sarcoma. This milestone and royalty agreement could provide significant payments to CytRx in multiple tumor types for aldoxorubicin.
CytRx is also focused on the development on the development of personalized medicine that is designed to transform solid tumor treatment. This transformational strategy combines a portfolio of novel, anti-cancer drug candidates that employ LADR(TM) (Linker Activated Drug Release) technology, a discovery engine designed to leverage CytRx's expertise in albumin biology and linker technology for the development of a new class of breakthrough anti-cancer therapies with a unique albumin companion diagnostic (ACDx) that can help identify patients who are most likely to benefit from treatment with the LADR(TM)-derived therapies. A critical element of the LADR(TM) platform is its ability to bind anti-cancer molecules to circulating albumin, the most ubiquitous protein in human blood plasma, and then to release the highly potent cytotoxic payload at the tumor site. This technology allows for the delivery of higher doses of drug directly to the tumor, while avoiding much of the off-target toxicity observed with the parent molecules.
CytRx Corporation's website is www.cytrx.com.