Profile: Novelos Therapeutics Inc (NVLT.PK)

Novelos Therapeutics, Inc. (Novelos), incorporated in June 1996, is a biopharmaceutical company focused on developing and commercializing oxidized glutathione-based compounds for the treatment of cancer and hepatitis. The Company’s compound, NOV-002 is a small-molecule compound based on a formulation of oxidized glutathione that has been administered to approximately 1,000 cancer patients in clinical trials. As of December 31, 2009, NOV-002 was in Phase II development for solid tumors in combination with chemotherapy. The Company’s second glutathione-based compound, NOV-205 acts as a hepatoprotective agent with immunomodulating and anti-inflammatory properties.

NOV-002

NOV-002 is an injectable small-molecule compound based on a formulation of oxidized glutathione. As of December 31, 2009, NOV-002 was being developed for use in combination with care chemotherapies for the treatment of solid tumors. As of December 31, 2009, the Company was developing NOV-002 to treat early-stage breast cancer in combination with chemotherapy. As of December 31, 2009, it was also developing NOV-002 to treat platinum-resistant ovarian cancer. Glutoxim (the tradename for NOV-002 in Russia) is approved in Russia for general medicinal usage as an immunostimulant in combination with chemotherapy and antimicrobial therapy, and specifically for indications, such as tuberculosis and psoriasis.

NOV-205

NOV-205 is an injectable, small-molecule formulation of oxidized glutathione in a 1:1 molar ratio with inosine. As of December 31, 2009, the Company was developing NOV-205 for the treatment of chronic hepatitis C non-responders. NOV-205 acts as a hepatoprotective agent with immunomodulating and anti-inflammatory properties.