Cellectar Biosciences Expands A New Licensing Agreement With The Wisconsin Alumni Research Foundation For Intellectual Property That Was The Result Of Collaborative Research With Iopofosine I 131 In Pediatric Cancers
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Cellectar Biosciences, Inc. (NASDAQ:CLRB) has expanded its licensing agreement with the Wisconsin Alumni Research Foundation (WARF) for intellectual property related to iopofosine I 131, a compound being researched for the treatment of pediatric cancers. The agreement grants Cellectar exclusive rights to develop and commercialize iopofosine for pediatric solid cancers. The company's position in radiopharmaceutical patents is strengthened by this agreement. Cellectar has also received a $2 million NCI grant to evaluate iopofosine in pediatric high-grade gliomas, with patient enrollment expected soon.
December 19, 2023 | 1:33 pm
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Cellectar Biosciences has expanded its exclusive licensing rights for iopofosine I 131, potentially enhancing its pipeline for pediatric cancer treatments. The company has also been awarded a $2 million grant for further research, indicating positive momentum.
The expanded licensing agreement and the NCI grant are significant positive developments for Cellectar, likely to be viewed favorably by investors. The exclusive rights to develop and commercialize iopofosine I 131 in pediatric cancers could lead to future revenue streams and enhance the company's competitive position in the radiopharmaceutical space. The $2 million grant provides financial support for the company's research efforts, reducing the immediate need for additional capital and potentially accelerating the development timeline.
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