CytRx provides business update
During 2017, CytRx has made significant strides in advancing its lead oncology asset aldoxorubicin from a late-stage clinical asset to a partnered, pre-New Drug Application candidate in the U.S. In July 2017, CytRx announced a strategic licensing transaction with NantCell,, for the global rights to aldoxorubicin. Dr. Patrick Soon-Shiong, the CEO and founder of NantCell, developed, obtained regulatory approval for, and commercialized Abraxane, another albumin-mediated cytotoxic agent which currently generates approximately $1B in annual sales. CytRx believes that Dr. Soon-Shiong's track record and expertise with albumin-mediated agents will prove invaluable as NantCell works to obtain regulatory approval for aldoxorubicin, with the goal of commercialization thereafter. CytRx has been actively working with the NantCell team to transition the aldoxorubicin program, including both completed and ongoing studies. Both teams are diligently working toward the preparation of the NDA for aldoxorubicin as a new treatment for soft tissue sarcomas, as well as getting additional clinical trials underway. CytRx looks forward to seeing aldoxorubicin enter NantCell-initiated clinical trials in the near future.