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Monday, 07/12/2010 3:38:15 PM

Monday, July 12, 2010 3:38:15 PM

Post# of 24568
NVLT..NOVELOS THERAPEUTICS ANNOUNCES POSITIVE PHASE 2 RESULTS

IN NOV-002 NEOADJUVANT BREAST CANCER TRIAL AT SYLVESTER

COMPREHENSIVE CANCER CENTER, AT THE UNIVERSITY OF MIAMI

- - -

Tumor Response Target Achieved – Detailed Results Submitted for Presentation at

SABCS in December 2010

NEWTON, Mass., July 12, 2010 – Novelos Therapeutics, Inc. (OTCBB: NVLT), a

biopharmaceutical company developing therapeutics to treat cancer and hepatitis, today

announced positive results in a Phase 2 trial of NOV-002 in combination with neoadjuvant

chemotherapy treatment in patients with stage IIB-IIIC HER-2/neu negative invasive breast

cancer, conducted by the Braman Family Breast Cancer Institute at Sylvester Comprehensive

Cancer Center at the University of Miami Miller School of Medicine. Alberto Montero, MD,

Assistant Professor of Medicine at the Miller School and medical oncologist at Sylvester, is the

Principal Investigator.

This Phase 2 open-label, single-arm, Simon 2-Stage trial was designed to determine if

preoperative administration of NOV-002 in combination with doxorubicin and cyclophosphamide

followed by docetaxel (AC-T) results in at least a doubling in the rate of pathologic complete

response (pCR) compared to a historical control. For NOV-002 to be declared active at the end

of the trial, a minimum of 12 patients must achieve a pCR. This criterion of 12 pCRs has been

met prior to all patients completing the trial. Patient enrollment continues and some patients are

still in the NOV-002 treatment stage. Trial results have been submitted for presentation to the

AACR Breast Cancer Symposium taking place in San Antonio, TX, in December 2010. The

Phase 2 trial design can be found on www.clinicaltrials.gov – ID: NCT00499122, or via a link at

www.novelos.com ‘Clinical Trials’ section.

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