Novelos Therapeutics, Inc. Files IND For Novel Hepatitis C Drug; IND Represents Company's Second Clinical Stage Compound

NEWTON, Mass.--(BUSINESS WIRE)--March 22, 2006--Novelos Therapeutics, Inc. (OTCBB: NVLT), a biotechnology company focused on the development of therapeutics to treat cancer and hepatitis, today announced that it has filed an Investigational New Drug Application (IND) with the Food and Drug Administration (FDA) for NOV-205, its second clinical stage compound. The initial U.S.-based trial will evaluate NOV-205 as monotherapy for chronic hepatitis C patients who have failed pegylated interferon plus ribavirin therapy.