Cellectar Biosciences to Provide Update on Phase 1 Multiple Myeloma Study
09 Dezember 2015 - 2:30PM
Cellectar Biosciences, Inc. (NASDAQ:CLRB), an oncology-focused
biotechnology company, today announces it plans to provide
performance data from the first cohort of patients enrolled in its
orphan drug designated Phase 1 study of CLR 131, in patients with
relapsed or refractory multiple myeloma, in January, 2016. The
company is developing CLR 131, its lead radiotherapeutic
Phospholipid Drug Conjugate (PDC), for the treatment of multiple
myeloma through the targeted delivery of iodine-131 to myelomatous
cells.
Cellectar previously guided that the company would provide an
update on the first cohort of its Phase I study during the first
half of 2016.
"We will now be providing an update on our Phase 1 study of CLR
131 in January 2016, at the front end of our prior guidance," said
Jim Caruso, President and CEO of Cellectar Biosciences. "We look
forward to sharing cohort 1 patient performance data as part of
this update."
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. 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 1603-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 www.cellectarbiosciences.com.
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/A for the year ended December 31, 2014. These forward-looking
statements are made only as of the date hereof, and we disclaim any
obligation to update any such forward-looking statements.
CONTACT: INVESTOR AND MEDIA CONTACT:
Jules Abraham
JQA Partners
917-885-7378
jabraham@jqapartners.com
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