Cellectar Biosciences Awarded $2.3M National Cancer Institute Fast-Track SBIR Grant to Advance Phospholipid Drug Conjugate (P...
01 Oktober 2015 - 2:30PM
Cellectar Biosciences, Inc. (NASDAQ:CLRB), a clinical stage
biopharmaceutical company developing phospholipid drug conjugates
(PDCs) for cancer targeted delivery of diverse oncologic payloads
for the treatment of cancer, announced today it has received
initial notice of award for a Phase I-II Fast-Track Small Business
Innovation Research (SBIR) grant. This SBIR grant provides up to
$2.3 million from the National Cancer Institute (NCI) to fund
development of Cellectar's PDC platform for targeted delivery of
I-125, a radiotherapeutic isotope that may be uniquely suited to
treat micro-metastatic disease.
"The receipt of this SBIR grant further validates our PDC
delivery platform's potential to improve the therapeutic index and
product performance of known cytotoxic agents through targeted
delivery," commented Jim Caruso, CEO and President of Cellectar
Biosciences. "This grant provides non-dilutive capital to expand
our radiotherapeutic PDC pipeline beyond our lead candidate, CLR
131, with the development of CLR 125, a new PDC product candidate.
We look forward to further characterizing the potential clinical
utility CLR 125 may possess in the treatment of cancer."
The SBIR grant is awarded in two installments with the potential
for up to $2.3 million over two and a half years. The Phase I
funding segment of $300,000, which will support all of the costs
projected for preclinical work with CLR 125, is now being funded.
The second phase of the grant provides $2.0 million of funding for
a phase 1 clinical study of CLR 125 to determine safety,
tolerability and optimal dosing.
"This award acknowledges Cellectar's unique expertise in
radiobiology and PDC chemistry. The radiobiologic properties of
I-125 suggest it will be particularly efficacious for treating
micro-metastatic disease. By leveraging Cellectar's PDC delivery
platform, CLR 125 may be an ideal vehicle to bring the proven
anti-cancer activity of ionizing radiation to bear on systemic
malignancies– an optimal outcome of radiation oncology," stated Dr.
Kevin Kozak, Cellectar's chief medical officer. "We are also very
excited about our lead radiotherapeutic PDC, CLR 131, and look
forward to results from our current phase 1 study in multiple
myeloma. This grant will allow us to expand our radiotherapeutic
PDC pipeline and should permit highly refined clinical application
of these agents based on patient, disease and drug properties."
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 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 and cancer stem cells. 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 I study in patients with relapsed/refractory multiple
myeloma. The company is also developing PDCs for targeted delivery
of chemotherapeutics such as paclitaxel (CLR 1601-PTX) and
gemcitabine (CLR 1605-GEM), both preclinical stage product
candidates, and plans to expand its PDC chemotherapeutic pipeline
through both in-house and collaborative R&D efforts. For
additional information please visit www.cellectar.com.
CONTACT: Jules Abraham
JQA Partners, Inc.
917-885-7378
jabraham@jqapartners.com
Cellectar Biosciences (NASDAQ:CLRBW)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Cellectar Biosciences (NASDAQ:CLRBW)
Historical Stock Chart
Von Jul 2023 bis Jul 2024