Navigation Links
Novelos Therapeutics Prices $5.9 Million Public Offering

MADISON, Wis., Dec. 1, 2011 /PRNewswire/ -- Novelos Therapeutics, Inc. (OTCBB: NVLT), a pharmaceutical company developing novel drugs for treatment and diagnosis of cancer, today announced the pricing of an underwritten public offering of 9,840,000 units at $0.60 per unit for gross proceeds of $5,904,000.  Each unit consists of one share of common stock and a warrant to purchase one share of common stock.  The warrants will have an exercise price of $0.60 per share and a 5-year term.  The Company has granted the underwriter a 45-day option to purchase up to an additional 15% of the units offered in the public offering to cover over-allotments, if any.  The offering is being made pursuant to an effective registration statement under the Securities Act of 1933, as amended.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NasdaqGM: RODM), is acting as sole underwriter for the offering.  Novelos expects to close the transaction, subject to customary conditions, on or about December 6, 2011.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.  The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Rodman & Renshaw, LLC, Prospectus Department, 1251 Avenue of the Americas, New York, NY, 10020, telephone: 212-356-0500 or email:  Before any investment, an investor should read the prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, for more complete information about Novelos and this offering.INVESTOR CONTACTSPatrick Genn, Exec. Director

Anne Marie Fields, Senior Vice PresidentNovelos Therapeutics, Inc.

Lippert/Heilshorn & Associates, Inc.Ph: (858) 775-7456

Ph: (212) 838-3777Email:

Email: Novelos Therapeutics, Inc.Madison, WI

Boston, MAThis news release contains forward-looking statements.  You can identify these statements by our use of words such as "may," "expect," "believe," "anticipate," "intend," "could," "estimate," "continue," "plans," or their negatives or cognates.
Such statements are valid only as of today, and we disclaim any obligation to update this information.  These statements are only estimates and predictions and 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.

SOURCE Novelos Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Novelos Therapeutics Announces Dismissal of Putative Federal Securities Class Action Lawsuit
2. Novelos Therapeutics to Present at the 5th Lippert/Heilshorn Life Sciences & Medical Technologies Virtual Conference on June 16
3. Nonconformity of NOV002 Used in Phase 3 NSCLC Trial Sponsored by Novelos Therapeutics, Inc to NOV002 (Glutoxim(R)), Used in Phase 1/2 NSCLC and all Previous Trials
4. Unigenes Proprietary Peptelligence™ Platform Used to Commence Cara Therapeutics Phase 1 Clinical Trial of Oral Novel Peripherally-Acting Kappa Opioid Agonist
5. Antiviral Therapeutics - Technologies, Markets and Companies
6. Pain Management Therapeutics Market to 2017 - Price Competition to Intensify Following Patent Expiries of Lyrica and Cymbalta
7. Cara Therapeutics Initiates Phase I Study with Oral Formulation of Novel Peripherally-Acting Kappa Opioid Agonist
8. Amsterdam Molecular Therapeutics Receives Orphan Designation in the European Union for Hemophilia B Gene Therapy
9. Prime Therapeutics Launches Retail Medication Therapy Management Program
10. Pieris Announces Results and Successful Completion of its PRS-050 Anticalin Phase I Trial at AACR-EORTC-NCI Molecular Targets and Cancer Therapeutics Conference
11. TetraLogic Pharmaceuticals Announces Presentation of Data on Smac Mimetic TL32711 at AACR-NCI-EORTC International Conference: Molecular Targets and Cancer Therapeutics
Post Your Comments:
(Date:11/26/2015)... , November 26, 2015 /PRNewswire/ ... --> adds "Global ... and "Investigation Report on China Repaglinide ... 2021 forecasts data and information to ... . --> ...
(Date:11/25/2015)... DUBLIN , Nov. 25, 2015 /PRNewswire/ ... announced the addition of the "Global ... to their offering. --> ... "Global Brain Monitoring Devices Market 2015-2019" ... Research and Markets ( ) ...
(Date:11/25/2015)... 25, 2015 AAIPharma Services Corp./Cambridge Major ... at least $15.8  Million to expand its laboratories ... . The expansion will provide additional office ... growing demands of the pharmaceutical and biotechnology markets. ... will provide up to 40,000 square feet of ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... November 27, 2015 , ... ... 27th edition of USA Today in Atlanta, Dallas, New York, Minneapolis, South Florida, ... The digital component is distributed nationally, through a vast social media strategy and ...
(Date:11/27/2015)... ... November 27, 2015 , ... MPWH, the No.1 Herpes-only dating community in the world, ... Table 1-1 ). More than 3.7 billion people under the age of 50 – ... according to WHO's first global estimates of HSV-1 infection . , "The data shocks ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... of the well-respected Microsoft Dynamics SL User Group (MSDSLUG). Recognized as Microsoft’s official ... independent group of Microsoft Dynamics SL software users, partners, industry experts and representatives. ...
(Date:11/27/2015)... ... November 27, 2015 , ... The moment you stop improving ... only fulfilling the needs of advisers and clients but going above and beyond ... top-tier customer service. However, there's always room for improvement, which is why the ...
(Date:11/27/2015)... ... , ... CBD College is proud to announce that on November ... to its Diagnostic Medical Sonography program. CBD College is honored to join this very ... and universities in the state of California make the cut. CBD College is officially ...
Breaking Medicine News(10 mins):