Cellectar Biosciences Strengthens Intellectual Property Protection for its PDC Platform
December 12 2023 - 8:30AM
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 is has received Notice of Allowance for the patent
titled, “Phospholipid-flavagline conjugates and methods of using
the same for targeted cancer therapy,” from the Japanese, Chinese,
Eurasian, Brazilian, and Mexican patent authorities. These patent
allowances in key global regions follow prior allowances for the
same patent in the US, Europe, Australia and Canada.
The patent provides composition of matter and use
protection for the Cellectar’s Phospholipid Drug Conjugate™ (PDC)
platform as a targeted delivery vehicle in combination with a class
of small molecules known as flavaglines. Flavaglines are a family
of natural (plant derived) cytotoxic molecules that, when targeted
to cancer, have been shown to kill the tumor cells.
“The expansion of our global IP portfolio
supports our plan to develop a diverse product portfolio delivering
value across a broad range of therapeutic modalities beyond
radiotherapies. In the immediate term, we look forward to reporting
topline Waldenstrom’s macroglobulinemia pivotal data for our lead
radioconjugate therapy, iopofosine I 131, in January 2024,” said
James Caruso, president and CEO of Cellectar. “We are also focused
on developing and expanding our pipeline of PDCs in additional high
need cancers. Our robust global IP portfolio provides the
foundation as we drive forward our mission to transform cancer care
for people worldwide.”
About Cellectar Biosciences,
Inc.Cellectar Biosciences is a late-stage clinical
biopharmaceutical company focused on the discovery and development
of proprietary drugs for the treatment of cancer, 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 the next-generation
of cancer cell-targeting treatments, delivering improved efficacy
and better safety with fewer off-target effects.
The company’s product pipeline includes lead asset
iopofosine I 131, a small-molecule PDC designed to provide targeted
delivery of iodine-131 (radioisotope), proprietary preclinical PDC
chemotherapeutic programs and multiple partnered PDC assets.
For more information, please
visit www.cellectar.com and www.wmclinicaltrial.com or
join the conversation by liking and following us on the company’s
social media channels: Twitter, LinkedIn,
and Facebook.
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 regarding the WM CLOVER-WaM pivotal trial. 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 iopofosine, 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 iopofosine, 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, 2022, and our Form 10-Q for the quarter ended
September 30, 2023. These forward-looking statements are made
only as of the date hereof, and we disclaim any obligation to
update any such forward-looking statements.
Contacts
CELLECTAR MEDIA:Claire LaCagninaBliss Bio
Health315-765-1462clacagnina@blissbiohealth.com
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