A $2m grant from the National Cancer Institute (NCI) will cover half the study cost, with the potential option to pursue another $3m for a pivotal Phase III trial of Cellectar’s lead radiotherapeutic compound.
According to the company, the results of the 80-patient, Phase II study will be used to design its pivotal trial of CLR 131 in multiple myeloma and other hematologic malignancies.
Jim Caruso, president and CEO of Cellectar described INC Research as the “ideal partner for this important trial.”
The company expects to initiate the trial during the first quarter of 2017.
As many as 15 participating sites will be used in order to provide initial efficacy data in the second half of 2017.