Full Press Release Details
be Granted EU Patent for Phospholipid Ether (PLE) Analogs as Cancer-Targeting Drug Vehicles
of matter and method of use into 2036 for proprietary PLE analogs in combination with various small molecule chemotherapeutics
FLORHAM PARK, N.J., June 11, 2020
-- Cellectar Biosciences, Inc. (NASDAQ: CLRB), a clinical-stage biopharmaceutical company focused on the discovery, development
and commercialization of drugs for the treatment of cancer, today announced that the European Patent Office has announced the intent
to grant patent number EP3229810 (B1) titled "Phospholipid Ether Analogs as Cancer-Targeting Drug Vehicles." The patent
provides composition of matter and use protection for the company's proprietary PLE, targeted delivery vehicle analogs in
combination with a broad range of chemotherapeutics such as paclitaxel, gemcitabine, and other classes of small molecule chemotherapeutic
agents. The cancer-targeting PLE delivery vehicle serves as the foundation for the company's lead product candidate CLR 131,
which continues to advance through clinical studies in both adult and pediatric cancer indications.
represents a key step towards the expansion of our PDC franchise into the European and the rest of the world markets. It provides
intellectual property protection for many of our ongoing preclinical programs, similar to the previously granted U.S. patent,"
stated James Caruso president and chief executive officer of Cellectar Biosciences. "We plan to explore other therapeutic
modalities with the PLE and seek partnerships with pharmaceutical and biotechnology companies interested in utilizing our technology
to potentially improve the delivery and the efficacy and tolerability of their drugs."
The combination of the PLE with a small
molecule chemotherapeutic is known as a Phospholipid Drug Conjugate or PDC . PDC's provide targeted delivery and release
of therapeutic payloads inside tumor cells including primary and metastatic tumor sites as well as cancer stem cells and has also
demonstrated the capacity to cross the blood-brain-barrier and target brain tumors.
About Phospholipid Drug Conjugates
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 cancerous cells and cancer stem cells,
including hematologic cancers and solid tumors. 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 does not rely upon specific cell surface epitopes or antigens which can be modified
or removed by tumor cells resulting in resistance to the treatment. 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 agents.
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 lead PDC therapeutic,
CLR 131, is currently in two clinical studies. The CLOVER-1 Phase 2 study completed the Part A dose-exploration portion, conducted
in relapsed/refractory (r/r) B-cell malignancies, and is now enrolling in the Part B expansion cohorts evaluating an approximate
100mCi total body dose of CLR 131 in relapsed/refractory (r/r) multiple myeloma (MM) and lymphoplasmacytic lymphoma/Waldenstrom's
macroglobulinemia (LPL/WM). The data from the Part A portion was announced on February 19, 2020. The company is also conducting
a two-part Phase 1 dose-escalation with expansion arms in pediatric solid tumors and lymphomas.
The company's product pipeline includes
one preclinical PDC chemotherapeutic program (CLR 1900) and multiple partnered PDC assets.
For more information, please visit www.cellectar.com
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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 recent
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, 2019 and our Form 10-Q for the quarter ended March 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. These forward looking statements are made only as of the date hereof, and we disclaim any obligation to update any
such forward-looking statements.