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CytRx Sells Noncore Assets; $120M+ for Oncology Trials

By Tom Wall

Tuesday, May 17, 2011
CytRx Corp. continued its strategy of cashing in on noncore assets by selling worldwide rights to its molecular chaperone portfolio to privately held Orphazyme ApS, of Copenhagen, Denmark, for a potential $120 million in up-front and milestone payments plus possible royalties.

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