Nobel Laureate To Chair CytRx Scientific Advisory Board Meeting
10/14/2002 8:30:00 AM









LOS ANGELES, Oct 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- CytRx Corporation (CYTR) announced today that Dr. Louis Ignarro, Nobel Laureate in Medicine and Physiology will chair the company's first Scientific Advisory Board meeting on Thursday, October 17th in Los Angeles, California.







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The all-day meeting will cover the current status of all of the company's technologies and will outline the strategic positioning for CytRx's success in the future. Among the compounds that will be covered are FLOCOR and its potential use for acute myocardial infarction, sickle cell disease, cardiac bypass surgery, stroke, spinal cord injury, muscular dystrophy and drug delivery enhancers. TranzFect, CytRx's vaccine adjuvant compound, will also be discussed for its potential use in DNA vaccines. Currently, TranzFect has been out-licensed to Merck and Vical but is still available for licensing in prostate cancer. The drug also could be out-licensed for a variety of conventional vaccines such as flu, hepatitis B and malaria. Other topics will include a detailed review of the company's intellectual property portfolio and potential strategic partners.

In addition to Dr. Ignarro, the Scientific Advisory Board members scheduled to participate include: Vice Chairman of the Scientific Advisory Board Dr. Michael Hayden, Dr. Leonard Ruiz, Dr. Jeffery Berg, Dr. Fariba Ghodsian, and Dr. Mark Gelfer.

CytRx anticipates that a number of world renowned scientists, as well as business executives will be attending as guests to provide their expertise in various fields of technology on the agenda.

Steven A. Kriegsman, CEO of CytRx announced, "I am extremely pleased to have such an outstanding group of scientists and executives planning to attend our first Scientific Advisory Board conference. Upon completion of the event, CytRx may announce the key results of the meeting."

About CytRx Corporation:

CytRx Corporation is a biopharmaceutical company focused on the development and commercialization of high-value human therapeutics. The company's current portfolio of potential products includes FLOCOR, an intravenous agent for treatment of sickle cell disease and other acute vaso- occlusive disorders, and TranzFect, a delivery technology for DNA-based vaccines. CytRx has licensed TranzFect to Merck & Co., Inc. for use in Merck's efforts to develop DNA-based vaccines for HIV and three other infectious diseases. A number of other uses of TranzFect for enhancement of viral or non-viral delivery of polynucleotides (such as DNA and RNA) have been licensed to Vical, Incorporated. CytRx has a research pipeline in the areas of muscular dystrophy, cancer, spinal cord injury, vaccine delivery, gene therapy and food animal feed additives.

CytRx's wholly owned subsidiary, GGC Pharmaceuticals, Inc., (formerly Global Genomics Capital, Inc.) is a genomics holding company that currently has a forty percent ownership interest in Blizzard Genomics, Inc. in Minneapolis, Minnesota and a five percent ownership interest in Psynomics, Inc., a central nervous system genomics company in San Diego, CA. Blizzard Genomics, Inc. is developing instrumentation, software, and consumable supplies (including patent-pending "T-Chip" and "Contact" technologies) for the genomics industry. GGC expects that DNA chips will significantly impact a broad range of biomedical and agricultural businesses. These include drug development, diagnostic testing, forensics, environmental testing and plant biotechnology. Psynomics, Inc. is a genomics company developing technology for the diagnosis and treatment of neuropsychiatric diseases and has rights to access a significant database of patient data and corresponding tissue sample.

Cautionary Notice About 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, 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 ability of CytRx to identify and enter into licensing agreements or strategic alliances on satisfactory terms with larger companies for the development and marketing of FLOCOR and its other products, the ability of CytRx to identify and consummate agreements to acquire new products with CytRx's limited financial resources, the integration of CytRx and Global Genomics Capital, and the potential need for additional capital for continued operations. 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.

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SOURCE CytRx Corporation

Steven A. Kriegsman, Chief Executive Officer of CytRx
Corporation, +1-310-826-5648, or steven@kriegsmangroup.com ; or Broker
Relations, Loren Brown of Madison & Wall Worldwide, +1-407-682-2001, or
Loren@insidewallstreet.com , for CytRx Corporation


http://www.cytrx.com


Copyright (C) 2002 PR Newswire. All rights reserved.

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