Firm gets funds for Lou Gehrig research.CytRx Corp., an L.A. drug maker with a director well known in the Valley business community, has received $24.5 million for Lou Gehrig's disease Lou Geh·rig's disease n. See amyotrophic lateral sclerosis. research. "It gives us the funds to continue us to do what we want to do," said Marvin Selter, vice chairman of the board of directors for West Los Angeles-based CytRx and a former chairman of the Valley Economic Development Center board. Selter said the grant is from the ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Charitable Remainder Trust charitable remainder trust (Charitable Remainder Irrevocable Unitrust) n. a form of trust in which the donor (trustor or settlor) places substantial funds or assets into an irrevocable trust (a trust in which the basic terms cannot be changed or the gift withdrawn) . The agreement gives publicly-traded CytRx funding to continue researching a drug called Arimoclomol, used to treat Amyotrophic Lateral Sclerosis amyotrophic lateral sclerosis (ALS) (ā'mīətrōf`ik, sklĭrō`sĭs) or motor neuron disease, , also known as Lou Gehrig's disease. A progressive degeneration of the brain and spinal column, the disease affects 120,000 worldwide. |
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