Cellectar Biosciences, Inc., a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131, which is in Phase II clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a range of B-cell malignancies, as well as in Phase I clinical study for R/R MM. The company also develops CLR 1900, a PDC chemotherapeutic program that is targeted to treat solid tumors. It has collaborative PDC programs with Pierre Fabre to develop CLR 1800 Series; Avicenna Oncology GMBH to develop CLR 2000 Series; Onconova Therapeutics, Inc. to develop CLR 2100 and 2200 Series; and Orano Med to develop novel PDCs. The company was formerly known as Novelos Therapeutics, Inc. and changed its name to Cellectar Biosciences, Inc. in February 2014. Cellectar Biosciences, Inc. was founded in 2002 and is headquartered in Florham Park, New Jersey.