CytRx Corporation, a biopharmaceutical company that makes therapeutics based on molecular chaperone amplification technology, has agreed to purchase Innovive Pharmaceuticals, Inc., a biopharmaceutical company with four clinical stage oncology drug candidates. The combined company will have a broad portfolio of clinical development programs in oncology, ALS or Lou Gehrig’s disease, stroke recovery and diabetic foot ulcers. According to Steven Kelly, Innovive President and CEO, Innovive has focused primarily on four treatments of diseases with well-understood clinical endpoints that would provide the company with a streamlined path to approval by the FDA. Partnering with CytRx will allow Innovive access to funding to advance the four drug candidates, thereby serving the best interests of cancer patients. One of Innovive’s oncology portfolio highlights is INNO-305, also known as WT1 (Wilm’s Tumor Antigen
1). INNO-305 is a cancer vaccine immunotherapeutic that is in a Phase 1 clinical trial for the treatment of patients with AML, MDS, non-small cell lung cancer and mesothelioma. INNO-305 was designed to have a unique ability among WT1 peptide cancer immunotherapies to stimulate both CD8 and CD4 T-cells, which may result in a more robust immune response.
For more information on the two companies, visit www.cytrx.com and www.Innovivepharma.com.
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