Cellectar Biosciences to Collaborate With Avicenna Oncology

Cellectar Biosciences rose more than 7% in pre-market trade after the company said it will collaborate with Avicenna Oncology GmbH to develop new phospholipid drug conjugates combining Cellectar’s patented phospholipid ether delivery platform with Avicenna’s cytotoxic payloads (potent anti-cancer small molecules).

Avicenna will provide its payloads to Cellectar, which will leverage its expertise in chemical conjugation to link the molecules to its phospholipid ether (PDC platform). Cellectar will oversee the in vitro and in vivo testing of these molecules alongside an antibody drug conjugate with the same payload. Both companies will have the option to advance the development of any of the newly conjugated molecules. Financial terms of the collaboration have not been disclosed.

By Bucky Rini