WisBusiness: Cellectar Biosciences and LegoChemBio have entered a partnership

WisBusiness: Cellectar Biosciences and LegoChemBio have entered a partnership

Madison-based Cellectar Biosciences and LegoChemBio, a biotechnology company in South Korea, have entered a partnership aimed at developing and commercializing cancer therapies.

According to a joint release, the companies will be able to develop new therapeutic drugs using Cellectar’s drug-targeting platform in conjunction with LegoChemBio’s own drug technology.

“This partnership reflects the shared commitment of LegoChemBio and Cellectar to rapidly provide novel targeted therapies to patients with difficult to treat cancers,” Cellectar Biosciences CEO James Caruso said in a statement. “This collaboration has potential to further enrich our oncology pipeline.”

Financial terms of the agreement were not disclosed.