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Cellectar LLC Expands Clinical Management Team


10/3/2007 8:48:56 AM

MADISON, Wis., Oct. 3 /PRNewswire/ -- Cellectar LLC, (Cellectar), a privately-held radiopharmaceuticals company that designs and develops products to detect, treat and monitor human cancers, today announced the appointment of Ernest Allen as Director, Clinical Operations and LisaAnn Trembath as Manager of Medical Affairs. These appointments reflect the advancement of the company's lead product, CLR1404, toward clinical trials.

Prior to joining Cellectar, Mr. Allen spent over 20 years in progressively senior positions in clinical operations for pharmaceutical companies including Alcon, Amgen, Parke-Davis and Origin Pharmaceuticals, Inc., a U.K.-based Clinical Research Organization (CRO), where he served as Senior Clinical Manager. Most recently, he was Clinical Manager for Tapestry Pharmaceuticals, Inc., a cancer treatment pharmaceutical company located in Boulder, CO.

Ms. Trembath brings 21 years of experience as a nuclear medicine technologist specializing in medical imaging, including 10 years of clinical trials research experience and nine years in the radiopharmaceuticals industry. Immediately prior to joining Cellectar, Ms. Trembath was a Senior Clinical Affairs Specialist in the Medical Affairs Division at Bristol-Myers Squibb Medical Imaging, where she developed tools and educational programs for partner clinicians and field personnel. Prior to her position at BMS, she coordinated clinical trials research at the Medical College of Wisconsin and project management at Affiliated Research Centers.

Bill Clarke, M.D., Cellectar's President and CEO, commented, "As we advance our lead product candidate, CLR1404, toward clinical trials, Ernest and LisaAnn bring the necessary clinical development skills needed for our progression. These highly experienced individuals are excellent additions to our team."

CLR1404 is currently in preclinical development and the company expects to initiate Phase I clinical trails in mid-2008.

About Cellectar

Cellectar LLC is a radiopharmaceuticals company that designs and develops products to detect, treat and monitor a wide variety of human cancers. Cellectar's novel product candidates combine lipid-like molecules, phospholipid ethers (PLEs), with radioisotopes that destroy malignant cells. Cellectar's products' unique mechanism of action is based on their selective accumulation and retention in malignant tumors and not normal cells. The company's operations are based in Madison, WI. Cellectar has previously raised approximately $9.0 million from angel investors; including Continuum Investment Partners. For further information about Cellectar, visit the company website at www.cellectar.com.

About CLR1404

Cellectar's lead product candidate, CLR1404, is a phospholipid ether (PLE) combined with the radiolabel 131Iodine. Preclinical studies have shown that this compound is selectively retained in malignant cells. In pre-clinical studies, CLR1404 was taken up and retained in 100% of the 40+ malignant tumor types tested. Cellectar plans to move the compound into phase I clinical trials in mid-2008.

CONTACT: Pat Diamond of FD for Cellectar LLC, +1-617-747-3609 or
pat.diamond@fd.com

Web site: http://www.cellectar.com/


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