Cellectar gets okay to start drug trials

The U.S. Food & Drug Administration has given Madison-based Cellectar Biosciences approval to begin clinical testing on patients with multiple myeloma. The company can begin testing its I-131-CLR1404 compound on multiple myeloma patients to see how safe and tolerable the drug is. The trial will begin with about 20 patients at the end of the year, with preliminary reports due in late 2015. Cellectar claims its technology, with radioactive properties, has been found to collect in cancer cells and destroy malignant cells without harming healthy tissue.