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World-Renowned Scientist Joins Scientific Advisory Board Of CytRx Corporation (CYTR) Subsidiary, Araios Inc.



10/19/2005 5:09:29 PM

LOS ANGELES, Dec. 10 /PRNewswire-FirstCall/ -- CytRx Corporation announced today that Bruce Spiegelman, Ph.D., of Harvard University has joined the Scientific Advisory Board (SAB) of its obesity and type II diabetes subsidiary, Araios, Inc., increasing its size to four members.

In addition to Michael Czech, Ph.D., of the University of Massachusetts Medical School (a founder of Araios and SAB Chairman), the SAB also includes C. Ronald Kahn, M.D., also of Harvard University, and Luciano Rossetti, M.D. of the Albert Einstein College of Medicine.

"With the addition of Dr. Bruce Spiegelman, an outstanding senior biomedical researcher from Harvard, we now have in place the leading doctors and scientists in the world in the field of obesity and type II diabetes. Having these world-renowned experts will give CytRx the opportunity to develop and commercialize an RNAi, as well as small molecule, therapeutic for the prevention, treatment and cure of type II diabetes, obesity and their complications," said Steven A. Kriegsman, CytRx CEO.

Detailed biographical information for all four SAB members follows: Michael P. Czech, Ph.D., Founder, Chairman of SAB

Dr. Czech is Professor and Chair, Program in Molecular Medicine, University of Massachusetts Medical School. He is a recognized leader in the field of Insulin action and signal transduction in diabetes and obesity, and recently developed methods for RNAi-mediated gene silencing in cultured adipocytes. He has authored over 250 papers in the field of insulin action, and was awarded the American Diabetes Association's Eli Lilly Award for Diabetes Research, and the Banting Award for scientific achievement. Dr. Czech was on the faculty at Brown University in Medical Sciences from 1974 to 1981, when he moved to assume the Chairmanship of the University of Massachusetts Medical Center's Biochemistry and Molecular Biology Department. In 1990 he became the founding Chair of the Program in Molecular Medicine, which has grown to include over 250 staff and 28 faculty laboratory heads, including three Howard Hughes Medical Institute investigators. Dr. Czech received his M.S. in Biochemistry from Duke University, and his Ph.D. in Biochemistry from Brown University.

C. Ronald Kahn, M.D.

Dr. Kahn is President and Director of the Joslin Diabetes Center, and the Mary K. Iacocca Professor of Medicine at Harvard Medical School. During his more than 20-year tenure at the Joslin Diabetes Center, he has led the research program in its growth from $2 million to over $45 million in annual research funding, with a current staff of over 300 people. In addition, Dr. Kahn heads a very productive laboratory of his own focused on the mechanisms of insulin action, insulin resistance and type II diabetes. He also has overall responsibility for the Boston-based clinical programs and a wide range of outreach programs. Dr. Kahn has received the highest scientific awards of the American Diabetes Association, Juvenile Diabetes Foundation, International Diabetes Federation, the American Federation of Clinical Research, and the Endocrine Society of the U.S. In 1999, Dr. Kahn received two prestigious national honors -- election to membership in the National Academy of Sciences and election to the Institute of Medicine, for his distinguished and continuing achievements in original research.

Luciano Rossetti, M.D.

Dr. Rossetti is Professor and Director, Albert Einstein College of Medicine, Diabetes Research and Training Center. An internationally recognized diabetes investigator, Dr. Rossetti is the Judy R. and Alfred A. Rosenberg Faculty Scholar in Diabetes Research at the Albert Einstein College of Medicine of Yeshiva University. In 2000, Dr. Rossetti received the prestigious Outstanding Scientific Achievement Award of the American Diabetes Association in recognition of groundbreaking research in diabetes that demonstrates independence of thought and originality. This award is sponsored by Eli Lilly and Company and he presented the Lilly Lecture, entitled "The Dialogue between Fat and Brain: Its Role in Nutrient Sensing and Insulin Resistance." Dr. Rossetti has made major contributions to the understanding of the biochemical and molecular mechanism mediating the sensing of nutrients and, more recently, the role of leptin in the regulation of glucose and fat metabolism. He is an expert in the application of molecular genetics and pharmacological approaches to studies on appetite control by the hypothalamus.

Bruce Spiegelman, Ph.D.

Dr. Spiegelman is Professor of Cell Biology, Dana Farber Cancer Institute, Harvard Medical School. He has been a full Professor at Harvard Medical School and the Dana Farber Cancer Institute since 1991. His work is focused on the molecular basis of cell differentiation and tissue development, using adipogenesis as a model system. His groundbreaking work on transcriptional control of adipocyte development and metabolism has brought international recognition. He has also made major advances in the biochemical mechanisms of metabolic diseases, especially obesity and insulin-resistant diabetes (NIDDM). Dr. Spiegelman received a B.S. with highest honors from the College of William and Mary, and a Ph.D. from Princeton University. His graduate work was immediately followed by postdoctoral research at the Massachusetts Institute of Technology. Dr. Spiegelman was elected to the National Academy of Science in 2002 and has received numerous awards and other honors.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical company engaged in the development and commercialization of large-market opportunity products in a variety of therapeutic categories. The company formed a broad-based strategic alliance with the University of Massachusetts Medical School to develop novel compounds for obesity, type II diabetes and ALS, including using a promising new technology known as RNA interference (RNAi). Araios, a subsidiary of CytRx with offices and lab space in Worcester, Massachusetts, uses RNAi based technology in combination with structure-based medicinal chemistry for the discovery and development of new therapeutics to treat, cure and prevent type II diabetes and obesity. For more information, visit CytRx's website at http://www.cytrx.com/ and Araios' website at http://www.araios.com/ .

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 diabetes and obesity and ALS research, the need for future clinical testing of any RNAi-based products that may be developed by CytRx, the significant time and expense that will be incurred in developing any of the potential commercial applications 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: Steven A. Kriegsman, Chief Executive Officer,stevenk@cytrx.com , or Carolyn French, Director of Communications,cfrench@cytrx.com , both of CytRx Corporation, +1-310-826-5648


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