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Novelos Therapeutics Provides Product Pipeline Update
Date:5/16/2013

MADISON, Wis., May 16, 2013 /PRNewswire/ -- Novelos Therapeutics, Inc. (OTCQX: NVLT), a pharmaceutical company developing novel drugs for the treatment and diagnosis of cancer, today provided an update on its product pipeline, including I-124-CLR1404 (LIGHT) positron emission tomography (PET) imaging agent for solid tumor indications, I-131-CLR1404 (HOT) cancer-targeted molecular radiotherapeutic for advanced solid tumors and CLR1502 (GLOW2) optical imaging agent for intraoperative tumor margin illumination in real-time and non-invasive tumor imaging.

"We are excited to be advancing multiple product opportunities aimed at significant unmet needs, all based on Novelos' proprietary cancer-targeted delivery platform," said Harry Palmin, President and CEO of Novelos.  "Our development plan is centered on advancing compounds that we expect to most rapidly achieve significant development milestones.  Both LIGHT and GLOW2, subject to additional funding, are expected to reach such milestones by the end of 2014."

LIGHT is a small-molecule, broad-spectrum, cancer-targeted PET imaging agent.  LIGHT Phase 1-2 clinical trials are ongoing across 11 solid tumor indications.  These trials have demonstrated initial proof-of-concept in multiple tumor types, including primary and metastatic brain cancer.  Novelos expects to start a LIGHT Phase 2 imaging trial in brain cancer at the beginning of 2014 and, subject to additional funding, complete the trial by the end of 2014.  This trial will compare LIGHT imaging of glioma with standard of care based on pathology confirmation in approximately 30 patients.

"In early PET imaging trials with I-124-CLR1404 (LIGHT) in primary and metastatic brain cancer patients, we have observed high tumor-to-background ratios," said Lance Hall , M.D., Assistant Professor of Radiology at the University of Wisconsin Carbone Cancer Center, and t
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SOURCE Novelos Therapeutics, Inc.
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