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 three scientific posters, based on collaborations with Drs. Kenneth Tew and Danyelle Townsend of the Medical University of South Carolina, Charleston, SC, and Drs. C. Marcela Diaz-Montero and Alberto Montero of the Sylvester Comprehensive Cancer Center, University of Miami, Miami FL, at the ongoing American Association for Cancer Research (AACR) 2010 Annual Meeting being held in Washington, DC. These three 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. Immunomodulatory activity of NOV-002 potentiates the anti-tumor efficacy of cyclophosphamide in the CT26 murine colon cancer model (Abstract #5620) Drs. Diaz-Montero and Montero are presenting data showing that NOV-002 combined with cyclophosphamide results in failure of tumors to develop in this in vivo model in a high proportion of mice via a transferrable, immune-based mechanism. This suggests that, in addition to having direct anti-tumor activity, NOV-002 may enhance anti-tumor immune responsiveness in some settings. The redox modulator NOV-002 inhibits proliferation of ovarian tumor cells but increases proliferation of myeloid cells (Abstract #1615) Drs. Tew and Townsend’s presentation of results in human tumor and myeloid cell lines describes the ability of NOV-002 to induce oxidative signaling, protein modification (S-glutathionylation) and cell signaling changes in both cell types, but with different functional outcomes. An anti-proliferative/apoptotic outcome in the tumor cells contrasts with a proliferative stimulus in the myeloid cells supporting the hypothesis that the net result of redox modulation by NOV-002 is dependent on cell type. Serpin-A1 and A3 as potential pharmacodynamic biomarkers for NOV-002, a redox-modulating anti-cancer agent (Abstract #430) Drs. Tew and Townsend’s second poster includes data showing that NOV-002 administered to mice results in persistent S-glutathionylation of Serpin-A1 and A3 in the plasma, proteins which have been implicated in the regulation of myeloproliferation and hematopoetic progenitor cell mobilization. These results suggest that modulation of Serpin activity may represent a mechanistic link to the in vivo myeloproliferative actions of NOV-002 and point to a potential pharmacodynamic biomarker. “The data being presented at the AACR Annual Meeting provide further evidence of anti-tumor activity of NOV-002 in vitro and in vivo,” said Christopher Pazoles, Ph.D., Vice President of Research & Development of Novelos. “They also shed light on how the same central pharmacological action, oxidative signaling, could lead to both anti-tumor activity and myeloproliferation at the same time.” 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. Novelos is seeking to build a pipeline through licensing or acquiring clinical stage compounds or technologies for oncology indications. Our lead compound, NOV-002, has been administered to approximately 1,000 cancer patients in clinical trials and is in Phase 2 development for solid tumors in combination with chemotherapy. Novelos has a partnership with Mundipharma, an independent associated company of Purdue Pharma, to develop and commercialize NOV-002 in Europe and Asia (excluding China). Novelos’ second compound, NOV-205, which has been administered to approximately 200 hepatitis patients in clinical trials, is in Phase 2 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 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, our pharmaceutical collaborators’ ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third-party reimbursement.