CytRx Corporation Appoints Olivia Ware as Chief Commercial Officer

LOS ANGELES, Jan. 11, 2016 /PRNewswire/ -- CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced that it has hired Olivia Ware as its Chief Commercial Officer and a member of its senior executive team.  Ms. Ware brings more than 20 years of biotechnology and pharmaceutical experience, including thirteen years at Genentech where she was responsible for key aspects of the launches of the oncology drugs Rituxan^®, Herceptin^® and Avastin^®.

"We are very fortunate to have Olivia join the CytRx team.  She is a seasoned veteran who has played key roles in the launching of several of the world's largest revenue producing oncology drugs," said Steven A. Kriegsman, Chairman and CEO.  "The creation of this new executive management position reflects our transition to a commercial organization as we prepare for the results from our pivotal Phase 3 trial with aldoxorubicin as a treatment for patients with relapsed or refractory soft tissue sarcomas."

"I am excited to join CytRx at such an important time, and I look forward to maximizing the commercial success for our investigational drug candidate aldoxorubicin as a treatment for patients with soft tissue sarcomas and potentially other cancers," said Ms. Ware. 

While at Genentech, Ms. Ware was a Senior Director of Oncology and was responsible for the initial commercial launch of Avastin in the U.S., which reached $1 billion in sales during its first year on the market.  Prior to this, she was head of Herceptin marketing and held a number of other positions in the commercial organization.  Later, Ms. Ware was a Senior Director in the Product Portfolio Management Group, managing approximately 20 senior leaders responsible for building and leading the cross-functional drug development teams that developed and implemented strategic plans and guided the drug development processes for all oncology products at Genentech.

Since leaving Genentech, Ms. Ware has worked as an independent consultant providing strategic support and management expertise for global product launches, market assessments and coaching and mentoring for team leaders and executive teams.

Prior to Genentech, Ms. Ware worked in healthcare consulting for Baxter Healthcare; and was the western region general manager for a large national home healthcare company.  She has an MBA in Finance and Marketing, from the University of North Carolina at Chapel Hill and a B.A. from Davidson College.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. CytRx currently is focused on the clinical development of aldoxorubicin, its improved version of the widely used chemotherapeutic agent doxorubicin, and DK049, a novel drug conjugate which is expected to enter clinic trials in 2016.  CytRx is also expanding its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR™ (Linker Activated Drug Release) technology platform, a discovery engine designed to leverage CytRx's expertise in albumin biology and linker technology for the development of a new class of anti-cancer therapies.

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 relating to the outcome, timing and results of CytRx's clinical testing of aldoxorubicin and preclinical testing of its LADR™ linker technology platform, the outcome, timing or results of CytRx's clinical testing of aldoxorubicin, the risk that any future pre-clinical or human testing of compounds based on the LADR™ technology platform might not show efficacy or reduced side effects of those compounds, risks related to CytRx's ability to manufacture its drug candidates in a timely fashion, cost-effectively or in commercial quantities in compliance with stringent regulatory requirements, risks related to CytRx's need for additional capital or strategic partnerships to fund its ongoing working capital needs and development efforts, including the Phase 2 and Phase 3 clinical development of aldoxorubicin for SCLC and STS, respectively, and the preclinical and clinical development of compounds based on the LADR™ technology platform, risks related to lawsuits that have been brought against the Company and its officers and/or directors for alleged violations of the securities laws, 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.

Company Contact:
CytRx Corporation
David J. Haen
Vice President, Business Development and Investor Relations
(310) 826-5648, ext 304
[email protected]

Investor Relations:
Alexander Capital, LP
(855) 288-ALEX (2539)
[email protected]

SOURCE CytRx Corporation

Related Links

http://www.cytrx.com