CytRx Announces Publication of Paper Stating that Chaperone Amplification Represents a `Significant Strategy` in Anti-aging Pharmaceutical Design

- Independent Review Links Diminished Chaperone Expression to Protein Damage in
Aging Process -

- Expands Chaperone Regulation Technology`s Potential Applications and Enhances
Partnering Opportunities -
LOS ANGELES--(Business Wire)--
CytRx Corporation (NASDAQ:CYTR), a biopharmaceutical company and a leader in
molecular chaperone regulation technology, today announced that a paper
published in the peer-reviewed journal Gerontology concluded that molecular
chaperone amplification may represent a "significant strategy" in the future
design of anti-aging pharmaceuticals. The paper`s authors, led by Stuart K.
Calderwood, Ph.D., of Beth Israel Deaconess Medical Center, Harvard Medical
School, reviewed 40 clinical and animal studies in peer-reviewed publications
and found that molecular chaperones play an important role in the deterrence of
protein damage during the aging process and that chaperone expression is
required for cell longevity.

"This extensive review of scientific data from multiple clinicians provides
independent verification of the considerable potential of molecular chaperones
in designing pharmaceuticals to treat a multitude of age-related diseases and
disorders. This opens new blockbuster opportunities for our molecular chaperone
technology beyond the large neurodegenerative disease, stroke recovery and
neuropathy markets that we have been investigating," said CytRx`s President and
CEO Steven A. Kriegsman. "The abstract`s conclusions add to the continually
growing validation in the scientific literature of the tremendous commercial
potential of our chaperone amplifying drug candidates. Several interested
pharmaceutical suitors are currently evaluating potential partnerships aimed at
advancing development of this technology, which will allow for greater internal
focus on developing our considerable oncology assets."

In the paper, "The Shock of Aging: Molecular Chaperones and the Heat Shock
Response in Longevity and Aging - A Mini-Review," in the September 2009 edition
of Gerontology (volume 55, pages 550-558), the authors found that molecular
chaperone expression declines with aging, setting the stage for more
interrogation of the role of molecular chaperone amplification in aging and
longevity in human patients.

Jack Barber, Ph.D., Chief Scientific Officer, commented, "The authors`
conclusion of the importance of chaperones in aging coincides with our data
indicating the potential of arimoclomol and iroxanadine in age-progressive
indications, such as amyotrophic lateral sclerosis, also known as ALS or Lou
Gehrig`s disease, as well as diabetes and its complications, cardiovascular
disease, and stroke. The authors speculated that one of the ways to accomplish a
pharmacologic stimulation of chaperone synthesis is to activate the
transcriptional regulator Heat Shock Factor-1 (HSF-1), and that is exactly the
mechanism by which arimoclomol and iroxanadine are thought to work."

CytRx has submitted a revised protocol to the U.S. Food and Drug Administration
for its clinical trial with arimoclomol as a treatment for ALS with the
expectation that the clinical hold will be lifted in the current quarter.

Molecular Chaperone Technology

CytRx currently has two orally administered, clinical-stage molecular chaperone
drug candidates and recently discovered a series of additional compounds that
may provide a pipeline for additional drug candidates. The Company's drug
candidates are believed to function by regulating a normal cellular protein
repair pathway through the activation or inhibition of "molecular chaperones."
Because damaged proteins are thought to play a role in many diseases, activation
of molecular chaperones that help to reduce the accumulation of misfolded
proteins may have therapeutic efficacy in a broad range of disease states.
Similarly, CytRx believes that the inhibition of molecular chaperones that
normally help protect cancer cells from toxic misfolded proteins may result in
the selective destruction of cancer cells.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company
engaged in the development of high-value human therapeutics. The CytRx drug
development pipeline includes programs in clinical development for cancer
indications, including tamibarotene in a potential registration study for the
treatment of acute promyelocytic leukemia (APL). In addition, CytRx is
developing two drug candidates based on its industry-leading molecular chaperone
technology, which aims to repair or degrade misfolded proteins associated with
disease. CytRx also maintains a 36% equity interest in publicly traded RXi
Pharmaceuticals, Inc. (NASDAQ:RXII). For more information on the Company, visit
www.cytrx.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 related to the timing, outcome or results of future
clinical testing of molecular chaperone regulators, uncertainties related to the
fact that the studies described were not conducted by or at the direction of
CytRx, and CytRx has not independently reviewed the study data, the risk that
CytRx will be unable to secure a partnership to fund any further development of
arimoclomol for ALS, including any Phase II clinical trial, uncertainties
related the timing and ability to resume clinical testing at the desired dosage
of arimoclomol, the risk that the requirements imposed on the Company's planned
clinical trial designs for ALS by the FDA as expressed in its recent written
correspondence might adversely affect or delay the Company's ability ultimately
to demonstrate that arimoclomol is efficacious in treating ALS, increase the
cost of clinical development, adversely affect the Company`s ability to enter
into a partnership related to the future development of arimoclomol for ALS or
any other indication, or cause the cancellation of the trial altogether, risks
related to CytRx's need for additional capital or strategic partnerships to fund
its ongoing working capital needs and development efforts, risks related to the
future market value of CytRx's investment in RXi and the liquidity of that
investment, 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.

Legend Securities, Inc.
Thomas Wagner
800-385-5790 x152
718-233-2600 x152
twagner@legendsecuritiesinc.com

Copyright Business Wire 2009