Radiopharmaceutical production facility to support clinical development for lead drug candidate and other molecules MADISON, Wis., Aug. 18
MADISON, Wis., Aug. 18 /PRNewswire/ -- Cellectar, Inc., a privately-held
radiopharmaceutical company that designs, develops and manufactures products
to detect, treat and monitor human cancers, today announced that it has
completed commissioning its in-house manufacturing capability to meet clinical
trial needs in compliance with Good Manufacturing Practice (GMP) requirements.
This capability will allow Cellectar to initiate and complete its clinical
trials while remaining independently able to develop and manufacture new
radiopharmaceuticals beyond its lead candidate, CLR1404. With this unique
capability in place, Cellectar is now actively looking to expand its portfolio
both with internal candidates and through potential in-licensing
opportunities.
"We are extremely gratified to have achieved GMP compliance in our
radiopharmaceutical manufacturing facility because it takes us one step closer
toward clinical trials with our lead drug candidate, CLR1404," commented Neal
Sandy, Chief Operating Officer at Cellectar. "Our manufacturing technology
and custom-designed building, provide the flexibility and opportunity for our
growing company to supply the radiopharmaceuticals needed to support our
clinical program and to continue the development of additional molecules."
Cellectar's lead drug candidate, CLR1404, is a phospholipid ether (PLE)
analog radiolabeled with iodine-131, a radioactive isotope commonly used to
treat cancer. In pre-clinical evaluations, CLR1404 has shown the ability to
carry the potent isotope inside malignant cells and destroy them without
adversely affecting healthy tissues. Human trials will begin later this year
following submission and FDA review of Cellectar's Investigational New Drug
(IND) application.
Cellectar's initial clinical trial will focus on assessing safety and
appropriate dosing in the treatment of a variety of solid tumors.
About Cellectar
Cellectar, Inc. is a radiopharmaceutical company that designs, develops
and manufactures products to detect, treat and monitor a wide variety of human
cancers. Cellectar's novel product candidates combine lipid-like molecules,
phospholipid ethers (PLEs) analogs, with radioisotopes that can either image
or destroy malignant cells. Cellectar's products' unique mechanism of action
is based on their accumulation and selective retention in malignant tumors and
not in normal cells. The company's operations are based in Madison, WI.
Cellectar has previously raised approximately $22.0 million from angel and
venture capital investors; including Continuum Investment Partners and Venture
Investors, LLC. For further information about Cellectar, visit the company's
website at www.cellectar.com.
SOURCE Cellectar, Inc.
