– USA, CA – CytRx Corporation (OTC: CYTR), a biopharmaceutical innovator focused on research and development of life-saving cancer therapeutics, today announced the appointment of Cary Claiborne to its Board of Directors, brings a wealth of experience in public company governance, finance and operational management to the Board.
“We are proud and excited to welcome Cary to our Board as our latest step in refreshing the composition of our Board. Cary’s extensive experience in public company governance, finance and operations and his connectivity within the biotech industry are valuable adds to our Board and shareholders. We look forward to working with Cary as we continue to move our LADR assets forward.” said CEO, Dr. Stephen Snowdy.
Mr. Claiborne will also join the Compensation Committee as Chair and the Audit Committee as a member.
About Cary J. Claiborne
Cary Claiborne is COO at Adial Pharmaceuticals, Inc., a public biopharmaceuticals company, where he also serves as a board director. He is also a board director and audit committee chair at NeuroSense Therapeutics, a public biopharmaceutical company. Prior to joining Adial, Mr. Claiborne served as CFO and board director at Indivior, PLC, a public global commercial-stage pharmaceutical company. Mr. Claiborne also served as CEO and a board director at New Generation Biofuels, Inc. and MedicAlert Foundation, where he served as the chair of the audit and finance committees. From 2011 to 2014, Mr. Claiborne was CFO of Sucampo Pharmaceuticals, Inc., a public commercial-stage biopharmaceutical company.
Mr. Claiborne said: “Using LADR as a platform, CytRx has developed some exciting opportunities to help those with cancer. From Phase II/III clinical programs with the out-licensed drug Aldoxorubicin to the next-gen LADR drugs that are marching toward IND after showing impressive results in pre-clinical testing, CytRx has multiple shots on goal to deliver value to shareholders. I look forward to being part of this team as we navigate toward our goals.”
Mr. Claiborne graduated from Rutgers University with a B.A. in Business Administration and holds an M.B.A. from Villanova University. He was previously an NACD Governance Fellow.
About CytRx
CytRx Corporation is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer. CytRx’s most recent 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 drug candidate, arimoclomol, was sold to Orphazyme A/S in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in two indications, including Niemann-Pick disease Type C, and Gaucher disease.
For more information: https://www.cytrx.com/
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