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Novelos Therapeutics Prices $5.9 Million Public Offering
Date:12/1/2011

ring.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: pgenn@novelos.com

Email: afields@lhai.com 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.


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