Novelos Therapeutics commences enrollment in Phase 2 trial of NOV-205 for chronic hepatitis C

Novelos Therapeutics, Inc. (OTCBB: NVLT), a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis, today announced that it has enrolled the first patient in a U.S. Phase 2 trial evaluating NOV-205 as monotherapy in up to 40 chronic hepatitis C genotype 1 patients who previously failed treatment with pegylated interferon plus ribavirin. Details of the trial design may be found on www.clinicaltrials.gov – ID: NCT01058512, or via a link at www.novelos.com ‘Clinical Trials’ section.

“We look forward to further evaluating the clinical activity of NOV-205 in chronic hepatitis C non-responders – a large patient population for which there is no established, beneficial therapy.”

“The safety data from the U.S. Phase 1b short-term dosing trial support initiation of this Phase 2 trial, evaluating both dose escalation and extended dosing with NOV-205. Because NOV-205 is not a direct anti-viral agent, we believe the Phase 2 trial is more likely to demonstrate clinical activity,” said Dr. Raymond Koff, Novelos’ expert Medical Advisor for hepatitis. “We look forward to further evaluating the clinical activity of NOV-205 in chronic hepatitis C non-responders – a large patient population for which there is no established, beneficial therapy.”