Full Press Release Details
Issuance of U.S. Patent Covering CLR 131 Use in Multiple Myeloma
MADISON, Wis. (April 3, 2018) - Cellectar
Biosciences, Inc. (Nasdaq: CLRB), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization
of targeted treatments for cancer, announces that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent
No. P150207US03, entitled "Alkylphosphocholine analogs for multiple myeloma imaging and therapy." The claims in this
patent cover a method of use for CLR 131, the company's proprietary lead Phospholipid Drug Conjugate (PDC ) in multiple
myeloma (MM). Cellectar and the Wisconsin Alumni Research Foundation (WARF) are joint owners of the patent and Cellectar has licensed
exclusive rights to it from WARF.
"The issuance of this patent and its associated
claims expands the protection for CLR 131 in our most advanced indication, multiple myeloma," stated Jim Caruso, chief executive
officer of Cellectar Biosciences. "Multiple myeloma remains an incurable disease with reduced survival benefits seen for
patients with each successive line of therapy. We hope to demonstrate that CLR 131's unique mechanism of action could enable
extended survival among patients in this population, even those in later lines of treatment."
CLR 131 is Cellectar's investigational PDC under
development for several orphan- designated cancers. CLR 131 utilizes the company's patented phospholipid ether tumor targeting
delivery platform to deliver the cytotoxic radioisotope iodine-131 directly to tumor cells. CLR 131 is currently being evaluated
in a Phase 2 clinical trial for relapsed or refractory MM and select relapsed or refractory lymphomas as well as a Phase 1b dose
escalation clinical trial in patients with relapsed or refractory MM. The U.S. Food and Drug Administration has granted orphan
drug designation for CLR 131 in the treatment of MM and pediatric neuroblastoma.
About Phospholipid Drug Conjugates
Cellectar's product candidates are built upon a
patented delivery and retention platform that utilizes optimized PDCs to target cancer cells. The PDC platform is used to selectively
deliver diverse oncologic payloads to cancerous cells and cancer stem cells, including hematologic cancers and solid tumors. This
selective delivery allows a payloads' therapeutic window to be modified, which may maintain or enhance drug potency while
reducing the number and severity of adverse events. This platform takes advantage of a metabolic pathway utilized by all tumor
cell types in all cell cycle stages. Compared with other targeted delivery platforms, the PDC platform's mechanism of entry
does not rely upon specific cell surface epitopes or antigens. In addition, PDCs can be conjugated to molecules in numerous ways,
thereby increasing the types of molecules selectively delivered. Cellectar believes the PDC platform holds potential for the discovery
and development of the next generation of cancer-targeting agents.
About Cellectar Biosciences, Inc.
Cellectar Biosciences is focused on the discovery,
development and commercialization of drugs for the treatment of cancer. The company plans to develop proprietary drugs independently
and through research and development (R&D) collaborations. The core drug development strategy is to leverage our PDC platform
to develop therapeutics that specifically target treatment to cancer cells. Through R&D collaborations, the company's
strategy is to generate near-term capital, supplement internal resources, gain access to novel molecules or payloads, accelerate
product candidate development and broaden our proprietary and partnered product pipelines.
The company's lead PDC therapeutic, CLR 131, is
in a Phase 1 clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a Phase 2 clinical study in
R/R MM and a range of B-cell malignancies. In 2018 the company plans to initiate a Phase 1 study with CLR 131 in pediatric solid
tumors and lymphoma, and a second Phase 1 study in combination with external beam radiation for head and neck cancer. The company's
product pipeline also includes two preclinical PDC chemotherapeutic programs (CLR 1700 and 1900) and partnered assets include PDCs
from multiple R&D collaborations.
For more information
please visit www.cellectar.com.
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This news release contains forward-looking statements.
You can identify these statements by our use of words such as "may," "expect," "believe," "anticipate,"
"intend," "could," "estimate," "continue," "plans," or their negatives or cognates.
These statements are only estimates and predictions and are subject to known and unknown risks and uncertainties that may cause
actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs
and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause
such a material difference include, among others, uncertainties related to the ability to raise additional capital, uncertainties
related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful
preclinical development thereof, the completion of clinical trials, the FDA review process and other government regulation, our
pharmaceutical collaborators' ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical
companies, product pricing and third-party reimbursement. A complete description of risks and uncertainties related to our business
is contained in our periodic reports filed with the Securities and Exchange Commission including our Form 10-K for the year ended
December 31, 2017. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update
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