LOS ANGELES--(BUSINESS WIRE)--CytRx Corporation (NASDAQ:CYTR), a biopharmaceutical company engaged in the development and commercialization of human therapeutics, today announced that iroxanadine, its next drug candidate in the pipeline believed to stimulate the normal cellular protein repair pathway through the activation of “molecular chaperones,” has demonstrated the ability to dramatically and reproducibly accelerate the healing of skin wounds in diabetic animals. Based on these favorable preclinical results and earlier clinical study data, CytRx plans to move into a Phase II clinical trial with iroxanadine for the treatment of diabetic foot ulcers in the first half of 2008, subject to FDA clearance.
