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Novelos Nabs Patent on Anti-Cancer Drug


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Monday, September 10, 2007

Newton-based Novelos Therapeutics Inc. reports it has obtained a U.S. patent that covers certain aspects of its lead anti-cancer compound, NOV-002.

The drug is in Phase 3 clinical trials for the treatment of nonsmall cell lung cancer and has been granted a fast-track regulatory designation from the U.S. Food and Drug Administration, according to the firm.

Company officials said the new patent covers the structure of NOV-002, giving the firm five U.S. patents related to its oxidized glutathione technology and allowing the firm to expand its pipeline of compounds with the same structure.

The company now has NOV-002 in Phase 2 studies for patients with ovarian cancer and unable to be treated with chemotherapy, as well as those with early-stage breast cancer.

Novelos, a developer of drugs to treat cancer and hepatitis, reported a 2006 net loss of $8.9 million with no revenue. The firm has seven employees.

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