On November 30, 2021 CytRx Corporation (OTCQB: CYTR) ("CytRx" or the "Company"), a specialized biopharmaceutical company focused on research and development for the oncology and neurodegenerative disease categories, reported a presentation on Centurion BioPharma Corporation’s ("Centurion BioPharma") plans for a world-class cancer center in Las Vegas, Nevada (Press release, Cytran, NOV 30, 2021, View Source [SID1234596286]). Centurion BioPharma is a private wholly-owned subsidiary that focuses on advancing the Company’s proprietary, albumin binding ultra-high potency LADR (Linker-Activated Drug Release) oncology drug candidates and ACDx diagnostic.

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The presentation, which can be found here, highlights how the planned center would:

Be incorporated as a 501(C)3 not for profit organization and funded with $100 million or more in tax deductible gifts and grants raised from outside organizations, including foundations, philanthropists and other individual donors.
Centurion BioPharma would receive a percentage of the funds raised from the cancer center for the completion of its Investigational New Drug (IND)-enabling studies and clinical trials.
Establish a world-class oncology team dedicated to delivering compassionate care and truly innovative cancer treatments.
Implement approved therapies that have been proven to possess clinical benefit as well as be a scientific hub for additional research and new clinical trials for the next generation of cancer-fighting drugs.
Help establish Las Vegas, Nevada as a future center for medical tourism, allowing residents of Nevada and non-residents to receive best-in-class treatment.
Move Centurion BioPharma’s headquarters to Las Vegas, Nevada while it maintains a satellite office in Los Angeles, California.
Steven A. Kriegsman, Chairman and Chief Executive Officer of CytRx and Executive Chairman of Centurion BioPharma, commented:

"At CytRx and Centurion BioPharma, we believe establishing a best-in-class healthcare center in the city of Las Vegas can provide advanced cancer care and research for patients, establish Las Vegas as an important hub for further groundbreaking treatments and assist in the development of Centurion BioPharma’s LADR technology. Over the last three years, Centurion BioPharma has made critical strides in the development and diagnostics of its therapies. A combination immunotherapy including aldoxorubicin, which was developed by the Centurion BioPharma research team, was recently proven successful in a Phase 2 trial for advanced metastatic pancreatic cancer. We believe that establishing a major cancer center in Las Vegas – which we aim to complete with philanthropic support – will enable Centurion BioPharma to continue its important scientific research and pursue transformational treatment programs."