Cellectar Bio submits IND for cancer drug

Cellectar Biosciences (OTCQX:CLRB) submits an IND seeking regulatory approval to begin the clinical study of the radiopharmaceutical I-131-CLR1404 for the treatment of relapsed/refractory multiple myeloma.

President and CEO Dr. Simon Pedder says, "The radiosensitivity of multiple myeloma has been well-established and preclinical models show pronounced uptake of our phospholipid ether (PLE) analog delivery platform and significant therapeutic response to a single dose administration of I-131-CLR1404. We believe the selective nature and prolonged retention of our agent could enable effective, localized treatment to suppress or eliminate malignant plasma cells while preserving the important functions of normal blood cells."

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