Novelos Therapeutics to Present at LHA Life Sciences & Medical Technologies Virtual Conference on June 28

MADISON, Wis., June 27, 2012 /PRNewswire/ -- Novelos Therapeutics, Inc. (OTCQX: NVLT), a pharmaceutical company developing novel drugs for the treatment and diagnosis of cancer, today announced that Harry S. Palmin, President and CEO of Novelos, will present a corporate update at the LHA Life Sciences & Medical Technologies Virtual Conference on Thursday, June 28, 2012.  Mr. Palmin is scheduled to present at 12:30 p.m. Eastern time.

A webcast of the Novelos presentation may be accessed at www.novelos.com

The webcast will be archived for 90 days following the presentation.

This day-long virtual conference event includes 30-minute presentations with accompanying slides from seven industry leaders, and begins at 9:00 a.m. Eastern time.  The event may be accessed at the PrecisionIR event site www.vcall.com/CustomEvent/lipper/index.asp

About Novelos Therapeutics, Inc.

We are a pharmaceutical company developing novel drugs for the treatment and diagnosis of cancer.  Our three 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 cancer-targeted PET imaging agent.  We believe LIGHT has first-in-class potential and Phase 1-2 clinical trials are ongoing.  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 first quarter of 2013 as a monotherapy for solid tumors with significant unmet medical need.  CLR1404 (COLD), a pre-clinical cancer-targeted non-radioactive chemotherapy, works primarily through Akt inhibition.  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 www.novelos.com

Novelos Therapeutics, Inc.
Madison, WI                Boston, MA

This news release contains forward-looking statements.  You can identify these statements by our use of words such as "may," "expect," "believe," "anticipate," "intend," "could," "estimate," "continue," "plans," or their negatives or cognates.  Such statements are valid only as of today, and we disclaim any obligation to update this information.  These statements are only estimates and predictions and 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.

SOURCE Novelos Therapeutics, Inc.

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