Cellectar Biosciences Inc (CLRB) Granted Additional U.S. Patents Covering the Use of PDC Optical Agents
Cellectar Biosciences Inc (NASDAQ:CLRB) announces the United States Patent and Trademark Office has granted a method of use patent for CLR 1501, CLR 1502 and an additional CLR 1401-boron-dipyrromethene analog for the detection of multiple cancer types. All of these compounds utilize Cellectar’s proprietary phospholipid drug conjugate (PDC) delivery platform.
The recently issued patent, 9,616,140, outlines the method of use of these fluorophore compounds to detect a variety of solid tumors in patients, including melanomas, colorectal adenocarcinoma, uterine carcinoma, pancreatic carcinoma, ovarian adenocarcinoma, glioblastoma, clear cell carcinoma, and prostate adenocarcinoma. The current patent provides intellectual property protection through May 11, 2029.
“We continue to successfully execute our plan to expand the company’s intellectual property portfolio to protect and enhance the value of our PDC pipeline assets, both in diagnostic and therapeutic applications,” said Jim Caruso, president and CEO of Cellectar. “While our focus continues to be the development of our therapeutic assets, specifically CLR 131, for the treatment of multiple myeloma and other hematologic malignancies, our platform assets offer significant additional opportunity in a variety of clinical applications.”
Shares of Cellectar Biosciences rose nearly 7% to $2.22 in pre-market trading Tuesday. CLRB has a 1-year high of $4.93 and a 1-year low of $1. The stock’s 50-day moving average is $2.30 and its 200-day moving average is $1.90.
Cellectar BioSciences, Inc. operates as a biopharmaceutical company. It engages developing phospholipid drug conjugates designed to provide cancer targeted delivery of oncologic payloads to cancer stem cells.