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CytRx spins off non-core molecular chaperonesto fund oncology pipeline

This article was originally published in Scrip

Executive Summary

CytRx, based in Los Angeles, California, has once again raised money to support the clinical advancement of its oncology pipeline by spinning off a non-core asset. It has sold the worldwide rights to its three molecular chaperone compounds to the privately held Danish company Orphazyme Aps, in a deal that could bring CytRx total payments of up to $120 million, assuming all milestones are met, in addition to royalties.



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