Full Press Release Details
Cellectar Strengthens Global IP Position with
Phospholipid Drug Conjugate Composition of Matter Patent in Eurasia, Australia, and Mexico
patent covers phospholipid-ether analogs combined with various small molecule chemotherapeutics and methods of use for PDCs
PARK, N.J., Apr. 27, 2021 -- Cellectar Biosciences, Inc. (NASDAQ: CLRB), a late-stage clinical biopharmaceutical
company focused on the discovery, development and commercialization of drugs for the treatment of cancer, today announced that it has
received notification of formal grant of the patent titled, "Phospholipid-Ether Analogs as Cancer-Targeting Drug Vehicles"
by the Eurasian, Australian and Mexican patent authorities. This patent provides composition of matter and use protection for the company's
proprietary phospholipid-ether (PLE) analogs as a targeted delivery vehicle in combination with a broad range of commonly used chemotherapeutic
classes such as alkaloids, nucleoside analogs, as well as other classes of small molecule chemotherapeutic agents.
patents further strengthen the global IP coverage for our phospholipid drug conjugate (PDC) platform that can enable selective delivery
of key small molecules to cancer cells," said James Caruso, president and CEO of Cellectar. "Our PDC platform has a wide range
of functionality, including the potential to improve the efficacy and tolerability of certain drugs, and is applicable to multiple classes
of molecules. We look forward to continuing our development and exploring potential partnerships to leverage this impressive technology
for the benefit of patients."
The cancer-targeting
PLE delivery vehicle serves as the foundation for the company's research, development and pipeline including CLR 131, our lead product
candidate. CLR 131 is currently in multiple clinical studies, including a pivotal registrational study in Waldenstrom's macroglobulinemia,
a Phase 2b study in multiple myeloma, and a Phase 1 study in multiple pediatric solid tumor indications.
About Phospholipid Drug Conjugates
Cellectar's product candidates
are built upon a patented delivery platform that utilizes optimized phospholipid ether-drug conjugates (PDCs ) to target cancer
cells. The PDC platform selectively delivers diverse oncologic payloads to hematologic cancers and solid tumors including cancer stem
cells. This selective delivery allows the payloads' concentration within tumor cells to be increased while reducing the concentration
in normal tissue, which may enhance drug potency while reducing adverse events. This platform takes advantage of a metabolic pathway utilized
by all tumor cell types. Compared with other targeted delivery platforms, the PDC platform's mechanism of entry relies on targeting
a change in cancer cell membranes that occurs due to the metabolic needs of the cancer which is very different than normal tissue. In
addition, PDCs can be conjugated to molecules in numerous ways, thereby increasing the types or classes of molecules that can be selectively
delivered. Cellectar believes the PDC platform holds potential for the discovery and development of the next generation of cancer-targeting
Cellectar Biosciences
is focused on the discovery, development and commercialization of drugs for the treatment of cancer. The company is developing proprietary
drugs independently and through research and development collaborations. The company's core objective is to leverage its proprietary
Phospholipid Drug Conjugate (PDC) delivery platform to develop PDCs that specifically target cancer cells, delivering improved
efficacy and better safety as a result of fewer off-target effects. The company's PDC platform possesses the potential for the discovery
and development of the next-generation of cancer-targeting treatments, and it plans to develop PDCs independently and through research
and development collaborations.
The company's product
pipeline includes CLR 131, a small-molecule PDC designed to provide targeted delivery of iodine-131 (radioisotope), and proprietary preclinical
PDC chemotherapeutic programs and multiple partnered PDC assets.
more information, please visit www.cellectar.com or join the conversation by liking and following us on the company's
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Forward-Looking Statement Disclaimer
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 including our expectations of the impact of the COVID-19 pandemic. 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 disruptions at our sole source supplier of CLR 131, the ability to attract and retain partners
for our technologies, the identification of lead compounds, the successful preclinical development thereof, patient enrollment and the
completion of clinical studies, the FDA review process and other government regulation, our ability to maintain orphan drug designation
in the United States for CLR 131, the volatile market for priority review vouchers, 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, 2020. These forward-looking statements are made only
as of the date hereof, and we disclaim any obligation to update any such forward-looking statements.