CytRx's bafetinib demonstrates significant inhibition of glioblastoma multiforme cell lines in preclinical trial

CytRx Corporation (NASDAQ:CYTR), a biopharmaceutical company specializing in oncology, today announced that its drug candidate bafetinib (formerly known as INNO-406) demonstrated statistically significant inhibition of glioblastoma multiforme cell lines in a preclinical trial. Glioblastoma multiforme is the most common and aggressive primary adult brain tumor. Data from the trial, titled "Preclinical evaluation of Lyn kinase inhibition for treatment of glioblastoma multiforme," will be presented in a poster at the 46^th Annual Meeting of the American Society of Clinical Oncology (ASCO) being held June 4-8, 2010 in Chicago. It was authored by Vamsidhar Velcheti, M.D.; Brittany Peterson; Daniel Levitt, M.D., Ph.D.; and Om Prakash, Ph.D. Dr. Levitt is CytRx's Chief Medical Officer and the bafetinib used in the trial was supplied by CytRx. CytRx also said that it is on track with previously announced plans to initiate a Phase 2 proof-of-concept clinical trial evaluating the efficacy and safety of the potent, orally available, dual kinase inhibitor bafetinib in patients with glioblastoma multiforme in the second half of 2010.

"We are delighted that a trial featuring bafetinib will be presented at this year's Annual Meeting of ASCO, the world's leading professional organization representing physicians who care for patients with cancer. Organizers expect this year's meeting will draw more than 30,000 cancer specialists from around the world," said CytRx President and CEO Steven A. Kriegsman. "The acceptance of this trial for presentation strengthens our confidence to move forward with additional clinical development of bafetinib in glioblastoma multiforme. We believe that bafetinib could be efficacious in several hematological cancers and we also are preparing to begin evaluating bafetinib in a Phase 2 proof-of-concept clinical trial in high-risk B-cell chronic lymphocytic leukemia (B-CLL) this quarter, as well as a Phase 2 clinical trial in advanced prostate cancer next quarter."