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Michael P. Czech, Ph.D., Chairman Of CytRx Laboratories, Inc. Scientific Advisory Board, Honored By American Diabetes Association


10/19/2005 5:08:59 PM

LOS ANGELES, July 12 /PRNewswire-FirstCall/ -- CytRx Corporation today announced that Michael P. Czech, Ph.D., Chairman of the CytRx Laboratories Scientific Advisory Board, was named the 2004 recipient of the Albert Renold Award. The Albert Renold Award is named for Professor Renold, renowned diabetologist and researcher, and given by the American Diabetes Association. The award goes to an individual whose career is distinguished by outstanding achievements in the training of diabetes research scientists or the facilitation of diabetes research by diabetes investigators. The award was presented at the American Diabetes Associations' 64th Annual Scientific Sessions on June 4-8th in Orlando, Florida.

Dr. Czech is Professor and Chair of Molecular Medicine, Professor of Biochemistry and Molecular Pharmacology at the University of Massachusetts Medical School (UMMS). He is an expert in the area of diabetes research, insulin action, and signal transduction pathways involved in metabolic diseases. He has published over 250 papers and trained over 100 postdoctoral and graduate researchers, many of whom have gone on to become distinguished scientists themselves in the area of metabolic disease research. Dr. Czech has also won numerous awards for his work including the 2000 Banting Medal for Scientific Achievement, the highest scientific award given by the American Diabetes Association that honors an individual's long-term achievement in the study of diabetes; the Eli Lilly award; and the 1998 Elliot P. Joslin Medal in diabetes research. He currently serves as a member of several editorial boards for journals in the fields of biochemistry, molecular biology, diabetes and oncogene research.

In addition to serving as Chairman of CytRx Laboratories' Scientific Advisory Board, Dr. Czech is a cofounder of CytRx Laboratories and is actively pursuing sponsored research on the study of drug targets acting in insulin signaling and metabolic pathways deranged in type 2 diabetes and obesity.

"I am honored to be the recipient of the 2004 Albert Renold Award in recognition for my role of mentoring the many students and postdocs that have passed thorough my lab. I know that each and every one of them has made a contribution to further advancing our knowledge of diabetes and obesity," said Dr. Czech.

"We are very proud to be affiliated with Dr. Michael P. Czech, who not only is a scientist with extraordinary professional acumen, but is a unique human being. We are extremely pleased that he received this special award. This award is well deserved, as I am personally aware of the strong commitment Dr. Czech has to advancing the field of diabetes and obesity. As the chairman of the CytRx Laboratories SAB, Dr. Czech has already accelerated our efforts to develop new therapeutics to treat diabetes and obesity," said Steven A. Kriegsman, President and CEO of CytRx Corporation.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company, based in Los Angeles with a subsidiary in Worcester, Massachusetts. The company is engaged in the development of products, primarily in the area of ribonucleic acid interference (RNAi), for the human health care market, in a variety of therapeutic categories. The company has a broad-based strategic alliance with the University of Massachusetts Medical School to develop novel compounds in the areas of obesity, type 2 diabetes, CMV and ALS using RNAi technology. CytRx also licensed from UMMS the rights to a DNA-based HIV vaccine technology. The company also has a research program with Massachusetts General Hospital, Harvard University's teaching hospital, to use RNAi technology to develop a drug for the treatment of a familial form of ALS. The company has licensed its TranzFect delivery technology for DNA-based vaccines for certain diseases. For more information, visit CytRx's website at http://www.cytrx.com/.

ABOUT THE UNIVERSITY OF MASSACHUSETTS

The University of Massachusetts Medical School, one of the fastest growing academic health centers in the country, has built a reputation as a world-class research institution, consistently producing noteworthy advances in clinical and basic research. The Medical School attracts more than $153 million in research funding annually, 80% of which comes from federal funding sources. Research funding enables UMMS scientists to explore human disease from the molecular level to large-scale clinical trials. Basic and clinical research leads to new approaches for diagnosis, treatment and prevention of disease. Visit http://www.umassmed.edu/ for additional information.

This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that 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 risks or uncertainties related to the early stage of CytRx's obesity and diabetes research, the need for, and uncertainty of the results from, future clinical testing of any RNAi-based obesity products that may be developed by CytRx, the significant time and expense that will be incurred in developing any of the potential commercial applications in the field of obesity for CytRx's RNAi technology, CytRx's potential need for additional capital, risks relating to the enforceability of any patents covering CytRx's products and to the possible infringement of third party patents by those products, and the impact of third party reimbursement policies on the use of and pricing for CytRx's products. Additional uncertainties and risks are described in CytRx's most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K filed since the date of the last Form 10-K. 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.

CytRx Corporation

CONTACT: Carolyn French, Director of Communications of CytRxCorporation, +1-310-826-5648, cfrench@cytrx.com; or Jane Lin, or John Nesbett,both of Investor Relations Group, +1-212-825-3210, for CytRx Corporation


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