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CytRx Highlights Use of Licensed Drug Aldoxorubicin in Treatment of Former Senate Majority Leader Harry Reid’s Pancreatic Cancer

Reid’s Stage IV Pancreatic Cancer is Reportedly in “Complete Remission” After Combination Immunotherapy That Included NantKwest’s PD-L1 t-haNK, ImmunityBio’s N-803 and Aldoxorubicin

ImmunityBio and NantKwest Announced in May 2020 That They Planned to Commence a Randomized Phase 2 Study of This Experimental Treatment for Pancreatic Cancer

CytRx Corporation (OTCQB: CYTR) (“CytRx” or the “Company”), a specialized biopharmaceutical company focused on research and development for the oncology and neurodegenerative disease categories, today highlighted the use of its licensed drug – aldoxorubicin – in the combination immunotherapy used by ImmunityBio, Inc. and NantKwest, Inc. to treat former Senate Majority Leader Harry Reid’s stage IV pancreatic cancer. It was widely reported in June 2020 that former Senator Reid described himself as being in “complete remission” after receiving experimental treatment pioneered by the Chief Executive Officer of ImmunityBio and NantKwest.1

Earlier this year, CytRx highlighted that ImmunityBio and NantKwest announced the initiation of a Phase 2 randomized, two-cohort, open-label study for first and second-line treatment of locally advanced or metastatic pancreatic cancer (QUILT-88). The study received Food and Drug Administration (“FDA”) authorization and was slated to initially enroll 268 subjects across both cohorts. It has been indicated that enrollment was expected to begin in June 2020.

“We wish former Senator Reid the best now that he is reportedly in complete remission and hope that his combination immunotherapy treatment can become the basis for treating other individuals with pancreatic cancer,” said Steven A. Kriegsman, CytRx’s Chairman and CEO. “Although former Senator Reid is only one person and other comprehensive studies and trials are necessary and required, we continue to be encouraged with the progress and results of this promising pancreatic cancer treatment that includes aldoxorubicin.”

CytRx out-licensed global development, manufacturing and commercialization rights for aldoxorubicin to ImmunityBio in 2017. The Company has an agreement with ImmunityBio that can yield up to $343 million in potential milestone payments as well as prospective royalties on sales of aldoxorubicin.

About CytRx Corporation

CytRx Corporation (OTCQB: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. CytRx’s most advanced drug conjugate, aldoxorubicin, is an improved version of the widely used anti-cancer drug doxorubicin and has been out-licensed to ImmunityBio, Inc. In addition, CytRx’s other drug candidate, arimoclomol, was sold to Orphazyme A/S (Nasdaq Copenhagen exchange: ORPHA.CO) in exchange for milestone payments and royalties. Orphazyme is testing 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 Pancreatic Cancer

Pancreatic cancer kills an estimated 47,000 people annually; it is the fourth leading cause of cancer-related death in the U.S., and 57,600 new cases are expected in 2020. Less than 5% of these patients will live for more than five years after diagnosis, and the median survival prognosis is 5 to 8 months. Pancreatic cancer is a disease in which malignant (cancerous) cells form in the tissues of

CorroHealth Emerges as a Leader in Healthcare Reimbursement Solutions, Following Merger of Four Industry Players

Four healthcare services and technology organizations have launched under a combined brand—CorroHealth. TrustHCS, Visionary RCM, T-System and RevCycle+ joined forces to provide a greater breadth of reimbursement cycle, risk adjustment and quality solutions to health systems and payers. Global investment firm The Carlyle Group (NASDAQ: CG) owns a majority stake in CorroHealth, with Cannae Holdings, Inc. (NYSE: CNNE), Sanaka Group, and affiliates of TripleTree Holdings also serving as investors.

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Patrick Leonard serves as CEO of CorroHealth. (Image: CorroHealth)

CorroHealth—driven by helping clients navigate regulatory and compliance complexities to ease physician burdens and improve financial outcomes—emerges at a time when financial health is particularly important for health systems and payers.

“We knew health systems and plans would have a growing need for our solutions, so we worked hard and found a way to bring all 4,000 employees together as one company—united by our core,” said CorroHealth CEO Patrick Leonard. “At CorroHealth, we will drive results for our clients with our scalable solutions, clinical expertise, and our ability to manage across the continuum of complexity and value.”

CorroHealth combines the industry-leading domestic middle revenue cycle group of TrustHCS, with the full-service global delivery model of Visionary RCM, the emergency documentation technology solutions of T-System, and the advanced coding solutions of RevCycle+.

“Our new and unified brand name speaks to our mission to advance health by connecting people to the right solutions at the right time,” added Leonard. “We are proud of our fully integrated team and excited for the growth journey ahead.”

“We see the highly complementary nature of CorroHealth’s solutions as uniquely able to add value for health system and health plan customers,” said Joe Bress, a Principal specializing in healthcare at The Carlyle Group. “We’re excited to partner with Pat and the company’s leading management team to help build the CorroHealth platform.”

“We believe CorroHealth is well positioned for organic and inorganic growth opportunities,” added fellow Carlyle Principal James Shillito. “Carlyle and the entire investor group look forward to supporting this growth going forward.”

The four legacy company names will remain through the end of 2020 with a final move to the CorroHealth name across all companies beginning Jan. 1, 2021.

Equity capital for the investment came from the Carlyle Equity Opportunity Fund II that makes majority and strategic minority investments primarily in the U.S. in targeted industries, including healthcare.

About CorroHealth

Our core purpose is to help you exceed your financial health goals. Across the reimbursement cycle, our scalable programs and clinical expertise help solve programmatic needs. Enabling our skilled domestic and global teams with leading technology allows analytics to guide our solutions and keeps us accountable to your goals. For both health systems and plans, we navigate regulatory and compliance complexities, ease physician burdens and improve financial outcomes. We consistently deliver the right solutions at the right time.

For additional information about CorroHealth, please visit www.CorroHealth.com.

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Contacts

Sara Payne,

Harvard Psychiatric Leader Appointed to Posts at Baylor College of Medicine and Menninger Clinic

HOUSTON, Sept. 28, 2020 /PRNewswire/ — Baylor College of Medicine and The Menninger Clinic jointly announce the hiring of Robert J. Boland, M.D., as vice chairman of the Menninger Department of Psychiatry and Behavioral Sciences at Baylor College of Medicine and chief of staff at The Menninger Clinic. Boland joins the organizations on January 4, 2021, after transitioning from Harvard Medical School and Brigham and Women’s Hospital.

Boland is currently vice chair of education and director of the psychiatry residency program at Brigham and Women’s Hospital. He is also an associate professor of psychiatry at Harvard Medical School and is board certified in psychiatry with expertise in medical education, psychosomatic medicine and geriatric psychiatry. He is an alumnus of Georgetown University where he earned his undergraduate and medical degrees.

Prior to joining Brigham and Women’s Hospital five years ago, Boland had an 18-year tenure at the Alpert School of Medicine at Brown University, Providence, RI. He developed special interest in depression resulting from medical illness and, with Brown and the Centers for Disease Control, he examined the influence of depression on the course of HIV in women.  Currently, he’s an associate editor of Journal of Technology in Behavioral Science.

“Dr. Boland brings exceptional leadership experience and skills to The Menninger Clinic and to Baylor College of Medicine. His focus on innovation and the application of technology in our field of medicine is important to patients of the Texas Medical Center,” says Wayne Goodman, M.D., Chair and the D.C. and Irene Ellwood Chair in Psychiatry, Baylor College of Medicine Department of Psychiatry and Behavioral Science.

As one of Baylor’s teaching hospitals for psychiatrists and psychologists, The Menninger Clinic values Boland’s mentoring of early-career psychiatrists and other mental health clinicians. In addition, His work in geriatric psychiatry and consultation-liaison psychiatry required the ability to treat complex patients, which Menninger has specialized in treating for 95 years.

“Dr. Boland is an innovator in the way patient care is delivered to meet the needs of communities today,” said Armando E. Colombo, president and CEO of The Menninger Clinic. “We share a common belief about the opportunity of psychiatry to improve the productivity and health of individuals, families and communities.”

A nationally ranked hospital, The Menninger Clinic serves Houston and Texas and is also a trusted assessment and treatment provider for people across the country.

Contact:  Nancy Trowbridg
C: 713-806-5061
[email protected]

Cision
Cision

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SOURCE The Menninger Clinic

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