Cellectar opens $3.3M factory, headquarters

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Cellectar has opened a $3.3 million radiopharmaceutical research, development and manufacturing facility and a new headquarters in Madison, Wis.

The radiopharmaceutical company said the facility will allow it to manufacture and radiolabel its lead compound, CLR1404, in compliance with good manufacturing practices (GMP), a requirement for the advancement of the compound for phase 1 clinical trials in mid 2008.

The new radiolabeling facility includes an isolator that allows scientists to label Cellectar’s CLR1404 with 131Iodine, a radioisotope commonly used to treat cancer and 124Iodine, a positron emitting isotope that will allow CLR1404 to be used with PET imaging as a cancer diagnostic, according to the company.