PR Newswire | Jul 20, 2020 09:01AM EDT

The Michael J. Fox Foundation on Parkinson's Disease Research

07/20 08:00 CDT

CytRx Corporation Highlights Orphazyme's Announcement of its Collaboration with The Michael J. Fox Foundation on Parkinson's Disease ResearchArimoclomol has potential across a range of neurodegenerative diseases, including GCase-deficient Parkinson's disease (PD) LOS ANGELES, July 20, 2020

LOS ANGELES, July 20, 2020 /PRNewswire/ -- CytRx Corporation (OTCQB: CYTR), a biopharmaceutical research and development company specializing principally in oncology and neurodegenerative diseases, today highlighted that Orphazyme A/S announced it will join The Michael J. Fox Foundation's (MJFF) Parkinson's Disease Research Tools Consortium. The group brings together experts from the medical community and industry to identify and develop new pre-clinical tools to address unmet research needs and accelerate experiments. Orphazyme's drug candidate arimoclomol has potential across a range of neurodegenerative diseases, including GCase-deficient Parkinson's disease (PD).

An Orphazyme spokesperson stated: "Our pre-clinical and clinical research activities have given the team at Orphazyme a deep understanding of neurodegenerative conditions, including PD. We look forward to sharing our knowledge of targeting heat shock proteins and lysosomal function with the consortium."

A spokesperson for the MJFF stated: "We welcome Orphazyme to the Parkinson's Disease Research Tools Consortium. The company's unique expertise will help us create even more useful tools and contribute to the positive momentum in Parkinson's research."

Orphayzme has been conducting pre-clinical research in GCase-deficient Parkinson's. Arimoclomol amplifies the production of heat-shock proteins (HSPs) and Orphazyme's research is focused on exploring the potential role of HSPs, which help to correct and restore protein misfolding and improve lysosomal function, in disorders such as GCase-deficient PD.

"We are very proud of how Orphazyme continues to explore how arimoclomol can assist in attacking various neurodegenerative diseases," stated Steven A. Kriegsman, CytRx's Chairman and CEO.

About CytRx CorporationCytRx Corporation (OTCQB: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. One of CytRx's drug candidates, arimoclomol, was sold to Orphazyme A/S in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in four indications including amyotrophic lateral sclerosis (ALS), Niemann-Pick disease Type C (NPC), Gaucher disease and sporadic Inclusion Body Myositis (sIBM). CytRx Corporation's website is www.cytrx.com.

About Orphazyme A/SOrphazyme is a biopharmaceutical company focused on bringing novel treatments to patients living with life-threatening or debilitating rare diseases. Their research focuses on developing therapies for diseases caused by misfolding of proteins including lysosomal storage diseases. Arimoclomol, the company's lead candidate, is in clinical development for four orphan diseases: Niemann-Pick disease Type C, Gaucher disease, sporadic Inclusion Body Myositis, and Amyotrophic Lateral Sclerosis. The Denmark-based company is listed on Nasdaq Copenhagen (ORPHA.CO). For more information, please visit www.orphazyme.com.

About Parkinson's diseasePD occurs when brain cells that make dopamine, a chemical that coordinates movement, stop working or die. It can cause resting tremor, slowness, stiffness, and walking balance and memory problems. PD is a lifelong and progressive disease. Mutations in the gene GBA, which lead to misfolded/deficient lysosomal enzyme glucocerebrosidase (GCase), present the greatest genetic risk in PD and therapeutics targeting this pathway may have potential in such forms of PD. Orphazyme's research is focused on exploring the potential role of Heat-Shock Proteins, which help to correct and restore protein misfolding and improve lysosomal function, in disorders such as GCase-deficient PD.

About the MJFF Parkinson's Disease Research Tools ConsortiumThe consortium brings together industry researchers to discuss unmet research needs and priorities in PD. The group leverages combined resources to advance the development of high-quality pre-clinical research tools and ensure their widespread availability.

About ArimoclomolArimoclomol is an investigational drug candidate that amplifies the production of heat-shock proteins (HSPs). HSPs can rescue defective misfolded proteins, clear protein aggregates, and improve the function of lysosomes. Arimoclomol is administered orally, crosses the blood brain barrier, and has been studied in seven Phase 1, four Phase 2 and one pivotal Phase 2/3 clinical trial. Arimoclomol is in clinical development at Orphazyme for the treatment of NPC, Gaucher disease, sIBM and ALS. Arimoclomol has received orphan drug designation for NPC, sIBM and ALS in the US and EU, as well as fast-track designation from the US Food and Drug Administration (FDA) for NPC, sIBM and ALS. In addition, arimoclomol has received breakthrough therapy designation and rare-pediatric disease designation from the FDA for NPC.

Forward-Looking StatementsThis press release contains forward-looking statements. 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 and uncertainties relating to the ability of Orphazyme A/S to obtain regulatory approval for, manufacture and commercialize its products and therapies that use arimoclomol; the results of future clinical trials involving arimoclomol;the amount, if any, of future milestone and royalty payments that we may receive from Orphazyme A/S;and other 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.

Investor Relations ContactJohn CalozChief Financial OfficerCytRx Corporation(310) 826-5859info@cytrx.com

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SOURCE CytRx Corporation