Monday, May 22, 1995
CytRx puts idle assets to use
In a move to manage its risk profile, CytRx Corp. (CYTR) established Proceutics Inc., a
preclinical research organization that will use CYTR's preclinical facilities to generate
revenues. Proceutics will provide pharmaceutical development services to supplement the
pre-IND activities of certain compounds.
The Atlanta company, which is focused on vascular and infectious diseases and cancer,
decided to create the subsidiary when most of