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Novelos Therapeutics, Inc. One Gateway Center, Suite 504 02458 Newton, Massachusetts, United States http://www.novelos.com
Contact Stephen Lichaw +1 201-240-3200
NT
Novelos Therapeutics, Inc.

Novelos Therapeutics and Mundipharma Sign Exclusive Collaboration Agreement in Europe and Japan

$95mil for Cancer Compound through Equity Investment, Milestones and Fixed Sales-Based Payments, Plus Royalties

(PresseBox) (Newton, Massachusetts, )
Novelos Therapeutics, Inc. (OTCBB: NVLT), a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis, announced today that Novelos signed an exclusive collaboration agreement with Mundipharma International Corporation Limited to commercialize in Europe and Asia / Pacific(excluding China) Novelos' lead compound, NOV-002, which is in a pivotal Phase 3 trial for non-small cell lung cancer under a Special Protocol Assessment (SPA) and Fast Track. NOV- 002 has also demonstrated positive results in Phase 2 trials for other cancer indications.

In parallel, Novelos has also closed a private placement with Purdue Pharma L.P. resulting in $10 million
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