Novelos Therapeutics and Academic Collaborators Present Four Posters at AACR 2009 Annual Meeting

New Mechanistic Findings with NOV-002 in Animal and Cellular Models
NEWTON, Mass.--(Business Wire)--
Novelos Therapeutics, Inc. (OTCBB: NVLT), a biopharmaceutical company focused on
the development of therapeutics to treat cancer and hepatitis, today announced
that Novelos is presenting four scientific posters, based on collaborations with
Drs. Qihong Huang and Kiranmai Gumireddy of the Wistar Institute, Philadelphia
PA, and Drs. Kenneth Tew, Danyelle Townsend and Yefim Manevich of the Medical
University of South Carolina, Charleston, SC, at the ongoing American
Association for Cancer Research (AACR) 2009 Annual Meeting in Denver, CO. These
four posters present findings in animal and cellular model systems that add to
the understanding of the pharmacological actions of NOV-002 and how these may
relate to its clinical profile in oncology patients. An abstract of each poster
presentation has been published in the conference proceedings. NOV-002 is in a
pivotal Phase 3 trial for non-small cell lung cancer under a Special Protocol
Assessment (SPA) and Fast Track, which is expected to conclude in late 2009.
NOV-002 has also demonstrated positive results in Phase 2 trials for other
cancer indications.

Inhibition of tumor cell invasion and ErbB2/PI3K signaling pathways by the
glutathione disulfide-mimetic NOV-002 (Abstract #1807) Dr. Qihong Huang is
presenting data showing that NOV-002 inhibited the ability of multiple human
cancer cell types to invade extracellular matrix, apparently as a consequence of
modulating the redox-sensitive signaling pathway that is known to control tumor
metastasis in vivo.

In vivo pharmacokinetic and pharmacodynamic behavior of NOV-002, a
redox-modulating glutathione disulfide mimetic (Abstract #1728) Dr. Townsend`s
presentation of results in mice describes plasma levels of oxidized and reduced
glutathione and increased S-glutathionylation of specific plasma proteins
(potential pharmacodynamic biomarkers) following parenteral administration of
NOV-002 which indicate the generation of a mild and transient oxidative signal
that may trigger a variety of redox-regulated biochemical cascades.

Polymorphisms of GST pi: Redox regulation through protein S-glutathionylation
(Abstract #2953) Dr. Townsend`s second poster includes data showing that
S-glutathionylation of some proteins after treatment of transformed human cells
with NOV-002 (in this poster GSSG) may require the activity of glutathione
S-transferase pi, which is known to be elevated in many types of human tumors.

NOV-002, a redox-modulating glutathione disulfide mimetic, leads to
redox-mediated calcium influx and nitric oxide generation through eNOS
activation in myeloid cells (Abstract #3762) Dr. Manevich is presenting data
illustrating that modulation of cell surface redox status and transmembrane
potential by NOV-002 in myeloid cells induces changes in calcium influx and
subsequent NO generation which may be relevant to enhanced recovery from
chemotherapy-induced myelosuppression seen in clinical studies of this drug
candidate.

"The data being presented at the AACR Annual Meeting suggest that NOV-002 may
interfere with tumor metastasis, describe how redox signaling by NOV-002 in the
plasma compartment may be transduced to other tissues, provide a possible
predictive marker (GSTp) for responsiveness to NOV-002 and offer further
evidence of cell signaling modulation by NOV-002 in both tumor and myeloid
cells," said Christopher Pazoles, Ph.D., Vice President of Research &
Development of Novelos. "This array of mechanism-related findings further
expands our understanding of how redox modulation by NOV-002 may relate to its
clinical profile in cancer patients."

The posters are available at www.novelos.com `Our Products`, `NOV-002` section.

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 SPA and Fast Track, acts together with chemotherapy as a chemoprotectant
and a chemopotentiator. NOV-002 is also in Phase 2 development for early-stage
breast cancer and chemotherapy-resistant ovarian cancer. Novelos has a
partnership with Mundipharma to develop and commercialize NOV-002 in Europe and
Japan. Novelos` second compound, 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 been
partnered with Lee`s Pharm in China. For additional information about Novelos
please visit www.novelos.com

Novelos Therapeutics, Inc.

One Gateway Center, Suite 504

Newton, MA 02458

This news release contains forward-looking statements.Such statements are valid
only as of today, and we disclaim any obligation to update this
information.These statements 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,
ourpharmaceutical collaborators` ability to successfully develop and
commercialize drug candidates, competition from other pharmaceutical companies,
product pricing and third-party reimbursement.

Novelos Therapeutics, Inc.
COMPANY
Harry S. Palmin, 617-244-1616 x11
President and CEO
hpalmin@novelos.com
or
INVESTOR RELATIONS
Stephen Lichaw, 201-240-3200
slichaw@novelos.com

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