CYTRX RECEIVES $24.5 MILLION FROM THE ALS CHARITABLE REMAINDER TRUST IN EXCHANGE FOR A 1% ROYALTY INTEREST IN WORLDWIDE SALES OF ARIMOCLOMOL FOR ALS

CytRx Corporation announced that it has received $24.5 million in a non-dilutive royalty agreement with the privately-funded ALS Charitable Remainder Trust to fund continued development of the Company's lead small molecule drug candidate arimoclomol for the treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). The ALS Charitable Remainder Trust, under which The Greater Los Angeles Chapter of The ALS Association (ALSA-GLAC) is the charitable remainder beneficiary, will receive a one percent royalty payment from worldwide sales of arimoclomol for the treatment of ALS. BioSpace (http://home.businesswire.com/portal/site/biospace/index.jsp?epi-content=GENERIC&newsId=20060829005544&ndmHsc=v2*A1156244400000*B1156895143000*DgroupByDate*J2*N1000122&newsLang=en&beanID=1229976837&viewID=news_view)