Wisconsin Roundup: Cellectar, Shine Medical, Concordia, & More

Wisconsin Roundup: Cellectar, Shine Medical, Concordia, & More

Before everyone checks out for the long weekend, here are a few recent headlines from Wisconsin’s innovation and technology community:

—Madison-based Cellectar Biosciences (NASDAQ: CLRB) said in its latest quarterly earnings report that patient enrollment in its phase 2 clinical trial of one of its experimental cancer imaging agents is going slower than anticipated. The company is considering ways to incorporate existing data from separate researcher-sponsored studies, which could help Cellectar complete the company-sponsored trial more quickly.

The company also said it has $7 million in cash—enough to fund operations through the end of the year. It will need to secure additional capital to finish its current and planned clinical trials.

Cellectar’s stock was trading around $2.70 per share this morning, about the same as its $2.71 close yesterday and above its $2.65 price at the opening bell Thursday.

—The Nuclear Regulatory Commission issued a preliminary recommendation that a permit be issued to Shine Medical Technologies to build its planned manufacturing facility in Janesville, WI, the company said. Shine would make medical radioisotopes at the facility, which is slated to begin production in 2018. The company must still complete the Nuclear Regulatory Commission’s safety review, and the commission is now soliciting public comments on its draft environmental impact statement that was released this week.

—Concordia University Wisconsin and its affiliate school in Ann Arbor, MI, are launching a student startup accelerator program in August. The program will focus on businesses that could have a social impact, and it will give small grants to the winning companies, the Milwaukee Journal Sentinel reported.

—Flying Car, the Milwaukee innovation conference, and the [email protected] Summit are being combined this year into a new annual conference focused on the “intersection of creativity and innovation,” organizers said. There’s no name yet for the new event, but it will be held on October 6, according to a press release from the Greater Milwaukee Committee, which oversaw Flying Car.

—The Water Council said it hired city of Milwaukee sustainability director Matt Howard to oversee the North American operations of the Alliance for Water Stewardship. The alliance brings together a global group of leaders in water resource management, and its North American operations are housed within The Water Council.

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