CytRx Corp. has created Centurion BioPharma Corp., a private unit, to develop potential anti-cancer drugs using a proprietary drug release technology.
The Germany-based subsidiary will develop potential therapies designed using CytRx's Linker-Activated Drug Release, or LADR, technology, which allows drug compounds to be selectively bound to the albumin protein in the bloodstream.
According to CytRx, the technology maximizes a drug's ability to kill tumor cells while minimizing system toxicity.
Centurion will develop the four drug candidates LADR-7, LADR-8, LADR-9 and LADR-10, which are undergoing pre-clinical trials to treat melanoma, ovarian, non-small cell lung cancer, and head and neck cancers.
The newly formed company holds all of the assets, liabilities and personnel related to CytRx's laboratory operations in Freiburg, Germany.
"The creation of Centurion BioPharma is a strategic endeavor that we believe will provide a vehicle to unlock the consolidated value of CytRx's biopharmaceutical assets by enhancing our efforts to attract potential licensees in order to advance the pipeline of these albumin binding ultra-high potency LADR drug candidates," Eric Curtis said, Centurion Biopharma's CEO and president.
Los Angeles-based CytRx develops new therapeutics to treat cancer.
