Full Press Release Details
Cellectar Biosciences Patent Application
for Phospholipid-Ether Analogs as Cancer Targeting Drug Vehicles Published by USPTO
Patent Further Supports the Company's
Phospholipid Drug Conjugate (PDC) Platform and Provides Intellectual Property Protection for Chemotherapeutic Drug Conjugates to
MADISON, Wis., May 20, 2016 (GLOBE
NEWSWIRE) -- Cellectar Biosciences, Inc. (NASDAQ:CLRB) (the Company), an oncology-focused biotechnology company, today announces
that its previously filed non-provisional US and International (PCT) patent applications for Phospholipid-Ether Analogs as Cancer
Targeting Drug Vehicles have received their US Patent and Trademark Office (USPTO) identification numbers and have been published
by the USPTO, which marks the next step in the application process for approval and issuance of these patents.
As previously stated, these patents
will protect both composition of matter and method of use for those phospholipid drug conjugates, or PDCs, developed with Cellectar's
proprietary phospholipid-ether delivery vehicle conjugated with any existing or future cytotoxic agents, including chemotherapeutics
such as paclitaxel, for targeted delivery to cancer cells and cancer stem cells.
"When issued, these patents will provide Cellectar and potential partners with intellectual property (IP) protection through
approximately November 2036, providing significant runway for product development and commercialization," said Jim Caruso,
president and CEO of Cellectar. "This expanded IP protection supports the value-optimizing potential of our CLR CTX chemotherapeutic
program and we look forward to providing ongoing updates as we continue to advance this R&D program."
The objective of the CLR CTX program
is to develop PDC chemotherapeutics through conjugation of the Company's delivery vehicle and non-targeted anti-cancer agents
to improve therapeutic indices and expand potential indications through targeted cancer cell delivery of chemotherapeutic payloads.
About Phospholipid Drug Conjugates
Cellectar's PDC platform has demonstrated
highly selective cancer targeting both preclinically in over 60 in vivo cancer models, and subsequently confirmed clinically
in over 10 cancer types. The platform's payload diversity has been validated using cytotoxic radioisotopes for cancer therapy;
PET imaging isotopes for cancer imaging; fluorophores for image-guided surgery, and now the company plans to expand its payload
portfolio to chemotherapeutics with further preclinical study of paclitaxel and other non-targeted anti-cancer agents with both
in-house and collaborative R&D efforts.
About Cellectar Biosciences, Inc.
Cellectar Biosciences is developing
phospholipid drug conjugates (PDCs) designed to provide cancer targeted delivery of diverse oncologic payloads to a broad range
of cancers and cancer stem cells. Cellectar's PDC Delivery Platform is based on the company's proprietary phospholipid ether analogs.
These novel small-molecules have demonstrated highly selective uptake and retention in a broad range of cancers. Cellectar's PDC
pipeline includes product candidates for cancer therapy and cancer diagnostic imaging. The company's lead therapeutic PDC, CLR
131, utilizes iodine-131, a cytotoxic radioisotope, as its payload. CLR 131 is currently being evaluated under an orphan drug
designated Phase 1 study in patients with relapsed or refractory multiple myeloma. The company is also developing PDCs for targeted
delivery of chemotherapeutics such as paclitaxel (CLR 1602-PTX), a preclinical stage product candidate, and plans to expand its
PDC chemotherapeutic pipeline through both in-house and collaborative R&D efforts. For additional information please visit
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, 2015. These forward-looking statements are made only as of the date
hereof, and we disclaim any obligation to update any such forward-looking statements.
INVESTOR AND MEDIA CONTACT: