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Cellectar Collects $13 Million For Clinical Trials

Wednesday, January 09, 2008 5:37:00 AM PDT | VentureDeal Staff

MADISON, WI -- Biotechnology company Cellectar, LLC said that it has raised $13 million in new venture capital investment.

Cellectar designs drugs to "find, treat and follow" cancerous malignancies through the delivery of radio-pharmaceuticals in a unique way.

Investors were led by Venture Investors, and included Advantage Capital and other international investors.  The company said it will use the funds to execute phase 1 trials for its lead candidate, CLR1404.

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