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Novelos Therapeutics Announces Encouraging Results in Ongoing Phase,2 Ovarian Cancer Trial at Dana-Farber/Partners Cancer Care

rding to the American Cancer Society, in 2006 approximately 20,000 U.S. women were expected to be diagnosed with ovarian cancer and 15,000 women were expected to die from it. There is a lack of effective treatment, particularly in the case of platinum-resistant patients. Once a woman's ovarian cancer is defined as platinum-resistant the chance of having a partial or complete response to further platinum therapy is typically less than 10%. Thus, there is a major unmet medical need for this indication.

About Dana-Farber/Partners CancerCare (DF/PCC)

DF/PCC is a joint venture non-profit consortium established by Massachusetts General Hospital, Brigham and Women's Hospital and Dana-Farber Cancer Institute. The clinical research efforts of this consortium are organized through Disease Programs. The Gynecologic Cancer Program focuses on the evaluation of novel therapeutic strategies in the treatment of women with gynecologic malignancies and in particular ovarian cancer.

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 Novelos Therapeutics, Inc. One Gateway Center, Suite 504
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