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Novelos Therapeutics and MUSC Present Two Posters at AACR 2007,Annual Meeting

NEWTON, Mass.--(BUSINESS WIRE)--Apr 16, 2007 - Novelos Therapeutics, Inc. (OTCBB: NVLT), a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis, today announced that the company, in collaboration with Dr. Kenneth Tew and Dr. Danyelle Townsend of the Medical University of South Carolina (MUSC), is making two poster presentations at the ongoing American Association for Cancer Research annual meeting. These presentations will highlight in vivo and in vitro findings with NOV-002, which is currently in a pivotal Phase 3 trial for non-small cell lung cancer and Phase 2 trials for other oncology indications. The posters are available at www.novelos.com 'Our Products', 'NOV-002' section.

"As clinical development of NOV-002 progresses, we continue to add to our understanding of its molecular and cellular mechanisms of action as they may relate to therapeutic activity," said Christopher Pazoles, Ph.D., Vice President of Research & Development of Novelos. "Our ongoing and broad-ranging research collaboration with Drs. Tew and Townsend at MUSC is an important part of that effort."

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
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