Novelos Therapeutics and Academic Collaborators Present Diapeutic Technology Platform at Imaging in 2020 Conference

MADISON, Wis., Oct. 3, 2012 /PRNewswire/ --Novelos Therapeutics, Inc. (NVLT), a pharmaceutical company developing novel drugs for the treatment and diagnosis of cancer, today announced that an oral presentation on research conducted by Jamey Weichert, Ph.D., Lance Hall, M.D., Anne M. Traynor, M.D., Glenn Liu, M.D. and their colleagues is being made by Dr. Weichert at the Imaging in 2020 Conference taking place September 30 to October 4, 2012 in Jackson Hole, Wyoming. This presentation describes the mechanistic foundation for Novelos' diapeutic (diagnostic + therapeutic) technology platform together with animal data and initial findings in advanced cancer patients that demonstrate selective and prolonged uptake of Novelos' PET imaging I-124-CLR1404 (LIGHT), therapeutic I-131-CLR1404 (HOT) and optical imaging CLR1502 (GLOW2) compounds in a range of tumor types. Dr. Weichert is Associate Professor of Radiology, Dr. Hall is Assistant Professor of Radiology, Dr. Traynor is Associate Professor of Medicine and Dr. Liu is Associate Professor of Medicine, all in the School of Medicine and Public Health at the University of Wisconsin, Madison and all are members of the UW Carbone Cancer Center. Dr. Weichert is also the Chief Scientific Officer of Novelos and the founder of Novelos' technology.

"LIGHT, HOT and GLOW2 were designed to exploit a common feature of most, if not all cancer cells including cancer stem cells that results in their selective uptake and retention in a wide range of malignant tumors compared with normal tissues," said Dr. Weichert. "By incorporating a unique functional property in each, we have generated an array of potential products that could, singly and in combinations, significantly improve the detection and treatment of cancer in multiple ways."

Slides of the oral presentation are available at http://www.novelos.com/technology-ip/posters-publications/

In the presentation, titled Molecular Diapeutics: Phospholipid Ether Analogs as Broad-Spectrum Cancer and Cancer Stem Cell Detection and Treatment, Dr. Weichert presents data showing that LIGHT, HOT and GLOW2 all share a common cancer-targeted core chemical structure. Each attaches a unique moiety to this delivery vehicle LIGHT a PET imaging agent (iodine-124), HOT a radiotherapeutic agent (iodine-131) and GLOW2 an optical imaging agent (near-infrared tracer). Results described with LIGHT demonstrate broad-spectrum tumor PET imaging in dozens of animal tumor models, and recent human findings in ongoing Phase 1-2 clinical trials show selective uptake and retention by primary tumors and metastases in advanced non-small cell lung and brain cancer patients. HOT results shown include single-dose efficacy in a wide range of animal tumor models as well as selective uptake and retention in cancerous tumors in clinical trials to date. The presentation highlights the potential diapeutic application of LIGHT and HOT, based on their chemical identity, to provide individualized treatment to cancer patients. For example, LIGHT serves as an ideal biomarker to potentially identify patients most likely to benefit from therapy with HOT. Dr. Weichert's talk also describes how selective uptake of GLOW2 could provide better definition of tumor margins in real time during cancer surgery, enabling more complete and selective removal of malignant tissue and potentially improving patients' prognosis. Data illustrating the potential use of GLOW2 for non-invasive detection of tumors is also being shown.

"We are pleased to share the science behind Novelos' cancer-targeted diapeutic platform with the scientific community attending this prestigious conference," said Harry Palmin, President and CEO of Novelos. "As we have recently reported, we continue to make good clinical progress with LIGHT and HOT across multiple human trials while advancing GLOW2 towards human trials."

About Novelos Therapeutics, Inc.

We are a pharmaceutical company developing novel drugs for the treatment and diagnosis of cancer. Our cancer-targeted compounds are selectively taken up and retained in cancer cells, including cancer stem cells, versus normal cells. Thus, our therapeutic compounds appear to directly kill cancer cells while minimizing harm to normal cells. This offers the potential for a paradigm shift in cancer therapy by providing efficacy versus all three major drivers of mortality in cancer: primary tumors, metastases and stem cell-based relapse. I-124-CLR1404 (LIGHT) is a small-molecule, broad-spectrum, cancer-targeted PET imaging agent. We believe LIGHT has first-in-class potential and Phase 1-2 clinical trials are ongoing across 11 solid tumor indications. I-131-CLR1404 (HOT) is a small-molecule, broad-spectrum, cancer-targeted molecular radiotherapeutic that delivers cytotoxic radiation directly and selectively to cancer cells and cancer stem cells. We believe HOT also has first-in-class potential. HOT Phase 1b dose-escalation trial is ongoing and we expect HOT to enter Phase 2 trials in the third quarter of 2013 as a monotherapy for solid tumors with significant unmet medical need, subject to additional funding. CLR1502 (GLOW2) is a preclinical, cancer-targeted, non-radioactive optical imaging agent for intraoperative tumor margin illumination and non-invasive tumor imaging. Together, we believe our compounds are able to "find, treat and follow" cancer anywhere in the body in a novel, effective and highly selective way. For additional information please visit http://www.novelos.com

INVESTOR CONTACTS

J. Patrick Genn, Vice President of IR, Novelos Therapeutics, Inc., Madison, Wisc. & Boston, Mass., Ph: (858) 775-7456, Email: jpgenn@novelos.com

Anne Marie Fields, Senior Vice President, LHA, Ph: (212) 838-3777, Email: afields@lhai.com, @LHA_IR_PR

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Novelos Therapeutics and Academic Collaborators Present Diapeutic Technology Platform at Imaging in 2020 Conference