LadRx Corp (LADXD)

[RuffRYder]

***This is pretty interesting, what does everyone think????..** Check sec.gov for more info..



On August 12, 2011, CytRx Corporation (“we,” “us,” “our” or the “Company”) notified Oncotherapeutics that we are terminating the clinical services agreement, dated as of December 6, 2010, between CytRx and Oncotherapeutics, effective 30 days from the date of our notification. Pursuant to the clinical services agreement, Oncotherapeutics provided fee-based contract research services in connection with clinical trials of our tamibarotene new product candidate at trial sites in the United States and Mexico. We intend to bring in-house the trial management services previously provided by Oncotherapeutics and to possibly expand the clinical trial to additional territories outside the United States with the assistance of one or more contract research organizations.

The clinical services agreement was terminable by either party, without liability, upon not less than 30 days’ prior written notice.

The preceding summary of the clinical services agreement does not purport to be complete and is subject to the full text of the clinical services agreement, a copy of which was filed as an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2010.