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Novelos wins patent approval for cancer drug

Boston Business Journal - 12:28 PM EDT Monday

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Novelos Therapeutics has won preliminary patent approval for a new cancer drug.

Novelos (OTC: NVLT), headquartered in Newton, Mass., said in a release that the U.S. Patent and Trademark Office has approved its application for NOV-002, currently in phase three testing for lung cancer.

The drug is described by the company as a chemoprotectant and an immunomodulator, designed as a companion treatment to chemotherapy. The medication is supposed to enhance the effectiveness of radiation and protect patients from some of the side effects of cancer treatment.

"This most recent addition to our IP portfolio further strengthens Novelos' proprietary position in the oxidized glutathione field in general and, in particular, around the structure of NOV-002," said Christopher Pazoles, Ph.D, Vice President of Research and Development of Novelos.

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