Cellectar Biosciences, Inc.

Cellectar Biosciences, Inc. is a late-stage clinical biopharmaceutical company dedicated to the discovery and development of targeted cancer therapies. The company's mission is to leverage its proprietary Phospholipid Drug Conjugate (PDC)™ platform to precisely treat tumors while minimizing harm to healthy tissue, focusing on improving outcomes for patients with advanced cancers where better options are urgently needed. Its headquarters are located in Florham Park, New Jersey.

The core of Cellectar's product pipeline is its Phospholipid Drug Conjugate (PDC)™ delivery platform, designed to selectively target cancer cells by exploiting lipid rafts in plasma membranes. The lead product candidate, iopofosine I 131 (also known as CLR 131), is a small-molecule PDC that delivers iodine-131, a radioisotope, directly to cancer cells. This candidate is currently under investigation for various hematologic malignancies, including relapsed or refractory Waldenström macroglobulinemia (WM), multiple myeloma, and pediatric brain tumors. The company is also advancing earlier-stage programs such as CLR 125 for solid tumors and CLR 121225 for indications like pancreatic cancer.

In recent news, Cellectar Biosciences received FDA Breakthrough Therapy Designation for iopofosine I 131 for relapsed/refractory Waldenström macroglobulinemia. The company reported positive 12-month follow-up data from its Phase 2b CLOVER WaM study, demonstrating durable responses and efficacy for iopofosine I 131 in this patient population. These results support plans for a global confirmatory pivotal study in the fourth quarter of 2026 and an NDA filing for accelerated approval. The company also announced an oversubscribed financing of up to $140 million in June 2026. James V. Caruso serves as the CEO, with Jarrod Longcor as COO.