LOS ANGELES, March 11, 2015 /PRNewswire/ -- CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced the appointment of Anita J. Chawla, PhD, to its Board of Directors.
Dr. Chawla brings over 25 years of experience as an economist in the health care industry to CytRx, with a proven track record helping pharmaceutical, biotechnology, medical device, and diagnostic companies achieve their product development and commercialization objectives. Most recently, she has provided strategic consultancy services to a variety of life science companies, including CytRx. With broad experience advising companies in matters including corporate and business unit strategy, market dynamics across multiple therapeutic areas, reimbursement, health economics, and business analytics, her appointment strengthens the executive leadership team and adds significant operational and commercial expertise.
"We are delighted to welcome Anita to the CytRx Board of Directors," said Steven A. Kriegsman, Chairman and CEO of CytRx. "Anita is a talented health economist who has become a very successful and trusted advisor to biopharmaceutical companies. She has been intimately involved in providing strategic guidance for product development and commercialization in oncology for many successful biopharmaceutical companies and we believe her contributions will be invaluable as we prepare to commercialize aldoxorubicin and other new treatments for cancer patients."
"CytRx's aldoxorubicin is a novel, targeted therapeutic that has shown promise in various oncology clinical trials and has significant potential in several cancer types," said Dr. Chawla. "I look forward to working alongside the Board and management team to help CytRx navigate the clinical and commercial development of its lead asset and create long term value for shareholders."
Dr. Chawla currently serves as Managing Principal at Analysis Group, a consultancy firm that provides economic, financial, and business strategy consulting to corporations, law firms, and government agencies. Clients include major pharmaceutical manufacturers, biotech and medical device companies, including smaller, innovative companies. Prior to joining Analysis Group, she held positions at Genentech, Inc. as the head of the Health Economics & Outcomes Research department where she also supported the oncology franchise, The MEDSTAT Group (now Truven Health Analytics), and the American Medical Association (Center for Health Policy Research). She has over 75 professional presentations, technical reports, and publications to her credit. Dr. Chawla also serves on the Board of Trustees of Newbury College in Brookline, Massachusetts. She has served as a reviewer or referee for several journals, including Value in Health, Health Affairs, Health Services Research, Journal of the American Medical Association, and Journal of Business and Economic Statistics. Dr. Chawla holds a Ph.D. in Economics from the University of Michigan and received a Bachelor of Arts degree in Economics and Political Science from Wellesley College.
Dr. Anita Chawla bears no familial relation to Sant P. Chawla, M.D., FRACP, Director of the Sarcoma Oncology Center and Principal Investigator of the Company's global Phase 3 clinical trial in soft tissue sarcoma or Shanta Chawla, M.D., Vice President, Clinical Development at CytRx.
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 (formerly known as INNO-206), its improved version of the widely used chemotherapeutic agent doxorubicin. CytRx has initiated under a special protocol assessment a pivotal Phase 3 global trial with aldoxorubicin as a therapy for patients with soft tissue sarcomas whose tumors have progressed following treatment with chemotherapy, and recently announced that it has received approval from the FDA to continue dosing patients with aldoxorubicin until disease progression in that clinical trial. CytRx is currently evaluating aldoxorubicin in a global Phase 2b clinical trial in small cell lung cancer, a Phase 2 clinical trial in HIV-related Kaposi's sarcoma, a Phase 2 clinical trial in patients with late-stage glioblastoma (brain cancer), a Phase 1b trial in combination with ifosfamide in patients with soft tissue sarcoma, and a Phase 1b trial in combination with gemcitabine in subjects with metastatic solid tumors. CytRx has completed a global Phase 2b clinical trial with aldoxorubicin as a first-line therapy for soft tissue sarcomas, a Phase 1b/2 clinical trial primarily in the same indication, a Phase 1b clinical trial of aldoxorubicin in combination with doxorubicin in patients with advanced solid tumors and a Phase 1b pharmacokinetics clinical trial in patients with metastatic solid tumors. CytRx plans to expand its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, based on novel linker technologies that can be utilized with multiple chemotherapeutic agents and may allow for greater concentration of drug at tumor sites. For more information about CytRx Corporation, visit www.cytrx.com/.
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 trials, the timing or FDA approval of projected commercial sales of aldoxorubicin, the risk that any future human testing of aldoxorubicin might not produce results similar to those seen in past human or animal testing, 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 3 clinical development of aldoxorubicin, 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.
David J. Haen
Vice President, Business Development and Investor Relations