CytRx and PRA Health Sciences Receive Gold Awards for Excellence in Clinical Research as the Strategic Partnership Team of the Year

LOS ANGELES, April 25, 2016 /PRNewswire/ -- CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced that two members of its clinical development team, Scott Wieland, Ph.D., Senior Vice President, Drug Development, and Nancy Wu, Senior Director of Clinical Operations, received the prestigious gold award at the PharmaTimes Clinical Researcher of the Year – The Americas competition held in Atlanta, Georgia.  The award in the Strategic Partnership Team category is shared with CytRx's partners at PRA Health Sciences, Inc., (PRA) (Nasdaq: PRAH), which was also recognized at the competition as the Best Clinical Research Company of the Year for the second consecutive year. 

Based on its expertise and international presence, CytRx and PRA have worked together for several years to conduct the global, pivotal Phase 3 clinical trial with aldoxorubicin as a treatment for patients with second-line soft tissue sarcomas.  Top-line data from the trial is expected in June 2016.     

"On behalf of CytRx, I am proud to recognize Scott, Nancy and our partners at PRA for this achievement," stated Daniel Levitt, M.D., Ph.D., CytRx's Executive Vice President and Chief Medical Officer.  "This highly experienced team is responsible for managing our pivotal Phase 3 trial with aldoxorubicin in second-line soft tissue sarcomas, including completing enrollment a quarter ahead of schedule."

Organized by PharmaTimes, the Clinical Research of the Year competition is considered a barometer of quality standards in the Clinical Research Organizations (CRO) industry.  The multi-stage competition is organized by an independent executive steering committee drawn from senior industry leaders from big and small pharmaceutical companies, leading CROs, and professional membership associations.  The competition was held in association with the annual Meeting & Expo of the Association of Clinical Research Professionals (ACRP) that was held in Atlanta, Georgia, from April 16-19, 2016.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. CytRx currently is focused on the clinical development of aldoxorubicin, its improved version of the widely used chemotherapeutic agent doxorubicin, and DK049, a novel drug conjugate which is expected to enter clinical trials in 2016.  CytRx is also expanding its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR™ (Linker Activated Drug Release) technology platform, a discovery engine designed to leverage CytRx's expertise in albumin biology and linker technology for the development of a new class of anti-cancer therapies.

About PRA Health Sciences

PRA is one of the world's leading global contract research organizations, by revenue, providing outsourced clinical development services to the biotechnology and pharmaceutical industries. PRA's global clinical development platform includes approximately 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East, and approximately 12,000 employees worldwide. Since 2000, PRA has performed approximately 3,300 clinical trials worldwide and has worked on more than 100 marketed drugs across several therapeutic areas. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 60 drugs. To learn more about PRA, please visit www.prahs.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. 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 relating to the outcome, timing and results of CytRx's clinical testing of aldoxorubicin and preclinical testing of its LADR™ linker technology platform, the outcome, timing or results of CytRx's clinical testing of aldoxorubicin, the risk that any future pre-clinical or human testing of compounds based on the LADR™ technology platform might not show efficacy or reduced side effects of those compounds, risks related to CytRx's ability to manufacture its drug candidates in a timely fashion, cost-effectively or in commercial quantities in compliance with stringent regulatory requirements, risks related to CytRx's need for additional capital or strategic partnerships to fund its ongoing working capital needs and development efforts, including the Phase 2 and Phase 3 clinical development of aldoxorubicin for SCLC and STS, respectively, and the preclinical and clinical development of compounds based on the LADR™ technology platform, risks related to lawsuits that have been brought against the Company and its officers and/or directors for alleged violations of the securities laws, and the risks and uncertainties described in the most recent annual and quarterly reports filed by CytRx with the Securities and Exchange Commission and current reports filed since the date of CytRx's most recent annual report. 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.

Company Contact:CytRx CorporationDavid J. HaenVice President, Business Development and Investor Relations(310) 826-5648, ext. 304[email protected]

Investor Relations:Alexander Capital, LP(855) 288-ALEX (2539)[email protected]

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SOURCE CytRx Corporation