LOS ANGELES, Dec. 15 /PRNewswire/ -- CytRx Corporation , a biopharmaceutical company focused on developing products primarily in the area of small molecules and ribonucleic acid interference (RNAi), today announced that it has signed an expanded agreement with the University of Massachusetts Medical School (UMMS) covering several newly discovered novel drug targets that have demonstrated the ability to regulate insulin activity in fat cells. Decreased insulin activity is known to contribute to type 2 diabetes and other complications such as obesity. These drug targets were identified using RNAi screening technology through CytRx’s existing collaborative program with UMMS. CytRx now plans to develop small molecule drugs based on these newly licensed-targets.
“Obesity has reached global epidemic proportions and type 2 diabetes is among the leading health concerns in the United States. Our ultimate goal is to develop drugs against these novel targets to help patients lose weight and maintain normal glucose levels,” said Steven A. Kriegsman, President and CEO of CytRx Corporation. “We are delighted with our long term partnership with UMMS and with the success of our collaboration to date.
“Two of these newly discovered drug targets regulate a well-known ‘fat burning’ metabolic pathway that has been the focus of significant interest to several large pharmaceutical companies,” he added. “Our strategy is to secure a significant pharmaceutical or biotechnology partnership to assist with resources as we develop drugs that alter the activity of these novel targets.”
The novel insulin-regulating drug targets were discovered through experiments conducted in the laboratory of world-renowned metabolic scientist Michael P. Czech, Ph.D., professor and chair of molecular medicine at UMMS. The drug targets were shown to regulate insulin action in fat cells when specific gene expression was silenced using small interfering RNA (siRNA) technology. Many of these drug targets are part of pathways previously shown to be important to diabetes and obesity.
“We have now screened over 700 possible drug targets in fat cells for regulation of insulin action and fatty acid metabolism. Through this process, we have discovered many promising targets that have never before been identified as having involvement with type 2 diabetes,” said Dr. Czech. “We look forward to continuing our collaboration with CytRx to utilize these novel targets to discover valuable drugs.”
Worldwide, more than one billion adults are overweight and at least 300 million are clinically obese. Obesity is a major contributor to the global burden of chronic disease and disability, according to the World Health Organization. Obesity and being overweight pose a major risk for serious diet-related chronic diseases, including type 2 diabetes, cardiovascular disease, hypertension, stroke, and certain forms of cancer. Obesity-related deaths rose 33% between 1990 and 2000 to an estimated 400,000, according to the Journal of the American Medical Association. According to a recent Rand study, by 2020 approximately one in five healthcare dollars spent on people age 50 to 70 will be due to obesity-related disabilities, if the current trend of overeating and inactivity continues.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company engaged in the development of products, primarily in the area of small molecules and ribonucleic acid interference (RNAi). The Company owns three clinical-stage compounds based on its small molecule “molecular chaperone” co-induction technology, as well as a targeted library of 500 small molecule drug candidates that may be used to screen for new drug candidates. CytRx has initiated a Phase II clinical trial with its lead small molecule product candidate arimoclomol for the treatment for amyotrophic lateral sclerosis (ALS or Lou Gehrig’s disease). Arimoclomol has received Orphan Drug and Fast Track designation from the U.S. Food and Drug Administration. CytRx has previously announced that a novel HIV DNA + protein vaccine exclusively licensed to CytRx and developed by researchers at University of Massachusetts Medical School (UMMS) and Advanced BioScience Laboratories, and funded by the National Institutes of Health, demonstrated very promising interim Phase I clinical trial results that indicate its ability to produce potent antibody responses with neutralizing activity against multiple HIV viral strains. For more information, visit CytRx’s Web site at www.cytrx.com.
About the University of Massachusetts Medical School
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 $174 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 www.umassmed.edu for additional information.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Examples of such statements include, but are not limited to, statements relating to the expected timing, scope and results of our clinical development and research programs, including the initiation of clinical trials, and statements regarding the potential benefits of our drug candidates and potential drug candidates. Such statements 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 regarding regulatory approvals for clinical testing and the scope of the clinical testing that may be required by regulatory authorities for its molecular chaperone co-induction drug candidates, including arimoclomol, and other products, and the timing and outcomes of those tests, uncertainties related to the early stage of CytRx’s diabetes, obesity, cytomegalovirus and ALS research, the need for future clinical testing of any RNAi-based products and small molecules 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 or small molecules, CytRx’s need for additional capital to fund its ongoing working capital needs, including ongoing research and development expenses related to its molecular chaperone co-induction drug candidates, 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.
For Additional Information: CytRx Corporation: CEOcast, Inc. Ed Umali (eumali@cytrx.com) Investor Contacts: Director of Corporate Communications Kevin Theiss (ktheiss@ceocast.com) (310) 826-5648, ext. 309 Cormac Glynn (cglynn@ceocast.com) (212) 732-4300
CytRx Corporation
CONTACT: Ed Umali, Director of Corporate Communications of CytRxCorporation, +1-310-826-5648, ext. 309, eumali@cytrx.com; or Investors,Kevin Theiss, ktheiss@ceocast.com, or Cormac Glynn, cglynn@ceocast.com,both of CEOcast, Inc., +1-212-732-4300, for CytRx Corporation