Photo courtesy of Cellectar Biosciences

Cellectar Biosciences announced Wednesday that Acting CEO Simon Pedder, PhD., has been promoted to president and CEO. Dr. Pedder began his new role on Tuesday.

“I am … appreciative of the support expressed by shareholders and investigators during this transition and look forward to solid operational execution driving delivery of near-term trial data and long-term success,” Dr. Pedder said in a statement.

According to a release, Dr. Pedder was named acting CEO in October 2013. Prior to joining Cellectar, he served as CEO of Chelsea Therapeutics.

Founded in 2007, Cellectar is developing agents to detect, treat and monitor a broad spectrum of cancers.