CytRx Announces Centurion BioPharma Invited to Present Plans for State-of-the-Art Cancer Center in Las Vegas, Nevada | Nation / World

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LOS ANGELES – (BUSINESS WIRE) – November 9, 2021–

CytRx Corporation (OTCQB: CYTR) (“CytRx” or the “Company”), a specialty biopharmaceutical company focused on research and development for the oncology and neurodegenerative disease categories, today announced that Centurion BioPharma Corporation (“Centurion BioPharma »), A private company The wholly-owned subsidiary that focuses on advancing the company’s proprietary oncology drug candidates LADR â„¢ (Liber-Activated Drug Release) at ultra-high potency albumin binding, was invited to present plans for a world-class cancer treatment center in Las Vegas, Nevada.

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Rendered images of the proposed Centurion BioPharma center. (Graphic: Business Wire)

Steven A. Kriegsman, Chief Executive Officer of CytRx and Executive Chairman of Centurion BioPharma, will present the proposal to the Nevada Governor’s Office and the World Economic Alliance in Las Vegas at a national and local stakeholder luncheon on Thursday November. 6:20 p.m. – 11:30 a.m. PT. The World Economic Alliance in Las Vegas issued a letter of support for the project ahead of the scheduled lunch.

Mr. Kriegsman commented:

“After approximately two years of planning and discussions, we are delighted to have the opportunity to present our plans to build a state-of-the-art cancer treatment center in Las Vegas, Nevada. We also believe that the center could become a major hub for medical tourism and scientific development in Nevada. It would be an honor to provide the people of Nevada with the resources and tools they need to fight cancer, especially given the state’s historic struggles with the disease relative to others in the southern region. western United States. , we believe this could be a great opportunity to expand Centurion BioPharma’s footprint and establish a world-class research center to further develop our LADR â„¢ platform. “

About Centurion BioPharma Corporation

CytRx’s wholly owned subsidiary, Centurion BioPharma Corporation, is focused on developing personalized medicine designed to transform the treatment of solid tumors. This transformational strategy combines a portfolio of novel cancer drug candidates that utilize Linker Activated Drug Release (LADR â„¢) technology, a discovery engine designed to leverage Centurion’s expertise in albumin biology and drug technology. linkers for the development of a new class of revolutionary antiviruses. -cancer therapies with a unique companion albumin diagnosis (ACDx) that can help identify patients most likely to benefit from treatment with LADR â„¢-derived therapies. A critical component of the LADR â„¢ platform is its ability to bind anticancer molecules to circulating albumin, the most ubiquitous protein in human blood plasma, and then release the very potent cytotoxic payload at the tumor site. This technology allows the delivery of higher doses of the drug directly to the tumor, while avoiding much of the off-target toxicity seen with the parent molecules. Centurion BioPharma Corporation’s website is www.centurionbiopharma.com.

About CytRx Corporation

CytRx Corporation (OTCQB: CYTR) is a biopharmaceutical company specializing in the discovery and development of new therapies primarily to treat patients with cancer and neurodegenerative diseases. CytRx’s newest advanced drug conjugate, aldoxorubicin, is an improved version of doxorubicin, a widely used cancer drug. in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol for two indications, including Niemann-Pick disease type C (NPC) and Gaucher disease. The CytRx Corporation website is www.cytrx.com.

Forward-looking statements

This press release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in forward-looking statements, including risks and uncertainties relating to the ability of ImmunityBio, Inc. , to obtain regulatory approval for its products. who use aldoxorubicin; the ability of ImmunityBio, Inc., to manufacture and market products or therapies that use aldoxorubicin; the amount, if any, of future milestone and royalty payments we may receive from ImmunityBio, Inc .; Centurion BioPharma Corporation’s ability to develop new ultra-high potency drug candidates based on its LADR â„¢ technology platform; our ability to attract potential licensees; and other 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 on information available to CytRx as of the date of their first publication. CytRx assumes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211109005642/en/

CONTACT: MKA

Greg Marose / Bela Kirpalani

[email protected]

KEYWORD: CALIFORNIA NEVADA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: COMMERCIAL AND REAL ESTATE BUILDING CONSTRUCTION AND REAL ESTATE OTHER PHARMACEUTICAL HEALTH MANAGED ONCOLOGY GENERAL HEALTH CARE HPITAL SCIENCE BIOTECHNOLOGY OTHER SCIENCE NURSING HEALTH OTHER CONSTRUCTION AND RESEARCH REAL ESTATE

SOURCE: CytRx Corporation

Copyright Business Wire 2021.

PUB: 09/11/2021 8:00 a.m. / DISC: 09/11/2021 8:02 a.m.

http://www.businesswire.com/news/home/20211109005642/en

Copyright Business Wire 2021.

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