CLRB - Cellectar inks development and commercialization agreement with LegoChemBio

Cellectar Biosciences (CLRB) has entered into a development and commercialization collaboration with South Korea-based biotechnology company LegoChemBio for the development and commercialization of novel first-in-class phospholipid drug conjugates ((PDCs)).Shares up nearly 7% premarket.Under the agreement, the companies have the option to jointly develop three new small molecule PDCs utilizing Cellectar’s proprietary drug targeting platform, phospholipid ether ((PLE)) technology and LegoChemBio’s proprietary drug conjugate linker-toxin platform.Details of the financial terms of the agreement have not been disclosed."This collaboration has potential to further enrich our oncology pipeline and builds upon our strategy of developing our PDC platform across a multitude of targeted cancer treatment modalities, including radioisotopes small molecules as well as others," Cellectar's CEO James Caruso said.

For further details see:

Cellectar inks development and commercialization agreement with LegoChemBio