Madison Startups: Cellectar Awarded $2M SBIR Grant

Madison Startups: Cellectar Awarded $2M SBIR Grant

Cellectar Biosciences logo

Cellectar Biosciences has been awarded a $2 million Phase II National Institutes of Health (NIH) SBIR grant from the National Cancer Institute (NCI), the company announced recently.

According to a release, the grant will support a pivotal study of iopofosine I-131 in Waldenstrom’s Macroglobulinemia.

“We appreciate the recognition and funding that the NIH and NCI have chosen to provide Cellectar for our pivotal iopofosine program,” Cellectar Biosciences CEO James Caruso said in a statement. “This $2 million non-dilutive grant will be used to support and accelerate the ongoing study.”

As previously reported, the study was initiated in January 2021 and is expected to take approximately 18 months to fully enroll.