Cellectar Biosciences raises $140M to advance cancer drug iopofosine I 131 for Waldenström macroglobulinemia.

Cellectar Biosciences secured an oversubscribed $140 million financing led by Nantahala Capital to support the confirmatory study and FDA accelerated approval filing for its cancer drug iopofosine I 131, targeting Waldenström macroglobulinemia. The funding also supports development of CLR 125 for triple-negative breast cancer. Nantahala’s Andrew Gu will join Cellectar’s board, highlighting investor confidence. This financing validates Cellectar’s strategy to bring new targeted oncology therapies to market and advance its proprietary drug delivery platform.