Cellectar Biosciences, Inc., formerly Novelos Therapeutics, Inc. is engaged in developing agents to detect, treat and monitor a broad spectrum of cancers. Utilizing a phospholipid ether (PLE) platform technology as a targeted delivery and retention vehicle, its compounds are designed to be selectively taken up and retained in both cancer cells and cancer stem cells. The Company�s portfolio consists of PET imaging agents, optical imaging agents and therapeutic agents. The Company's I-124-CLR1404 is a small-molecule, broad-spectrum, cancer-targeted PET imaging agent. Its I-131-CLR1404 is a small-molecule, broad-spectrum, cancer-targeted molecular radiotherapeutic that delivers cytotoxic radiation directly and selectively to cancer cells and cancer stem cells. Its CLR1502 is a preclinical, cancer-targeted, non-radioactive optical imaging agent for intraoperative tumor margin illumination and non-invasive tumor imaging.