Cellectar

Cellectar Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on the development of targeted cancer therapies. The company was originally founded in Madison, Wisconsin, in 2003 by Dr. Jamey Weichert, a professor at the University of Wisconsin-Madison. In 2011, it merged with a public company, Novelos Therapeutics, and in February 2014, Novelos Therapeutics officially changed its name to Cellectar Biosciences, Inc., trading under the ticker symbol CLRB.

Dr. Weichert, whose background is in medicinal chemistry and radiology, founded the company to develop diapeutic oncology agents based on his research. His work focuses on designing and developing cancer-targeted molecular imaging and therapeutic agents. The company's business model is research-driven, concentrating on the development and future commercialization of its cancer therapies. Revenue generation is anticipated through strategic partnerships, licensing agreements, and eventual product sales, contingent on regulatory approvals. Cellectar collaborates with academic institutions and other pharmaceutical companies to advance its product pipeline.

The company's core technology is its proprietary Phospholipid Drug Conjugate (PDC) delivery platform. This platform is designed to selectively deliver a range of therapeutic agents, or "payloads," directly to cancer cells while minimizing exposure to healthy tissues. The selective uptake is based on the discovery that cancer cells exhibit a high affinity for certain phospholipid ethers. Cellectar's PDCs consist of a phospholipid ether for targeting, a linker, and a therapeutic payload, which can be a radioisotope or a chemotherapeutic agent. This targeted delivery mechanism aims to improve treatment efficacy and reduce side effects.

Cellectar's lead product candidate is iopofosine I 131 (CLR 131), a small-molecule PDC that delivers the radioisotope iodine-131 to cancer cells. Iopofosine is being evaluated in multiple clinical trials for various cancers, including B-cell malignancies like Waldenstrom's macroglobulinemia (WM) and multiple myeloma, as well as pediatric solid tumors. The FDA has granted iopofosine multiple designations, including Breakthrough Therapy, Fast Track, and Orphan Drug, for several of these indications, potentially accelerating its path to market. Beyond iopofosine, Cellectar's pipeline includes other PDC programs in preclinical and clinical development, targeting a variety of solid tumors through different payloads and mechanisms.

Keywords: Cellectar Biosciences, CLRB, biopharmaceutical, cancer therapy, Phospholipid Drug Conjugate, PDC platform, iopofosine I 131, targeted radiotherapy, oncology, clinical-stage, radiopharmaceuticals, Jamey Weichert, Waldenstrom's macroglobulinemia, multiple myeloma, B-cell malignancies, drug delivery, molecular imaging, radioconjugate, pediatric oncology, diapeutics