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Novelos Therapeutics to Webcast Investor and Analyst Day on Nov 27th in NYC

NEWTON, Mass.--(BUSINESS WIRE)--Nov 26, 2007 - Novelos Therapeutics, Inc. (OTCBB: NVLT), a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis, today announced that Novelos will host and webcast presentations to institutional investors and analysts on Tuesday, November 27, 2007, 8-11am EST. The event will be held at The Cornell Club, 6 East 44th Street, New York, NY.

Presentations will highlight molecular, cellular and animal findings with NOV-002 (Novelos' lead compound currently in a pivotal Phase 3 trial for non-small cell lung cancer under a Special Protocol Assessment and Fast Track). The current understanding of its mechanisms of action will be discussed, particularly in relation to the unique clinical profile of NOV-002 when administered to cancer patients in combination with standard chemotherapy - improved toleration and increased efficacy.

Presenting will be: Kenneth Tew, Ph.D., D.Sc., Chairman of Novelos' Scientific Advisory Board, Professor and Chair of the Department of Cell and Molecular Pharmacology and Experimental Therapeutics and John C. West Endowed Chair in Cancer Research at Medical University of South Carolina; Danyelle Townsend, Ph.D., Assistant Professor in the Department of Pharmaceutical Sciences at the Medical College of South Carolina; and Christopher Pazoles, Ph.D., Vice President of R&D of Novelos.

A live webcast of the presentations may be accessed via www.novelos.com

The webcast will be archived for 90 days following the presentations.

About Novelos Therapeutics, Inc.

Novelos Therapeutics, Inc. is a biopharmaceutical company commercializing oxidized glutathione-based compounds for the treatment of cancer and hepatitis. NOV-002, the lead compound currently in Phase 3 development for lung cancer under a SPA and Fast Track, acts together with chemotherapy as a chemoprotectant and an immunomodulator. NOV-002 is also in Phase 2 development for chemotherapy-resistant ovarian cancer and early-stage breast cancer, and is in addition being developed for acute radiation injury. NOV-205 acts as a hepatoprotective agent with immunomodulating and anti-inflammatory properties. NOV-205 is in Phase 1b development for chronic hepatitis C non-responders. Both compounds have completed clinical trials in humans and have been approved for use in the Russian Federation where they were originally developed. For additional information about Novelos please visit www.novelos.com

This news release contains forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other government regulation, our pharmaceutical collaborators' ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third-party reimbursement.

Contact

COMPANY
Novelos Therapeutics, Inc.
Harry S. Palmin, 617-244-1616 x11
President and CEO
hpalmin@novelos.com
or
INVESTOR RELATIONS
Novelos Therapeutics, Inc.
Stephen Lichaw, 201-240-3200
slichaw@novelos.com

Posted: November 2007

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