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CytRx Announces First Licensing Agreement With Merck & Co., Inc. For TranzFect Technology

ATLANTA, Nov. 6 /PRNewswire/ -- CytRx Corporation (Nasdaq: CYTR - news) announced today that it has entered into a license agreement with Merck & Co., Inc. (NYSE: MRK - news) for its TranzFect technology in DNA-based vaccines targeted against a number of infectious diseases. As part of the agreement, CytRx will receive an up-front payment, and potentially, future milestones and royalty payments.

``We are pleased to conclude the first license for this technology with Merck, which has a long history of innovation in research,'' said Jack Luchese, President and CEO of CytRx. ``We look forward to working with Merck and other prospective partners on this exciting, enabling technology.''

About CytRx Corporation

CytRx Corporation is a biopharmaceutical company focused on the development and commercialization of high value human therapeutics. The company's current research and development activities are focused primarily on two of its technologies -- FLOCOR, an intravenous agent for acute vaso- occlusive disorders and related critical care applications, and TranzFect, a DNA delivery technology for DNA vaccines and gene therapy. CytRx also has a research pipeline in opportunities in the areas of vaccine adjuvants, infectious disease, and food animal feed additives.