NEWTON, Mass.--(BUSINESS WIRE)--Novelos Therapeutics, Inc. (OTCBB: NVLT), a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis, today announced that the Massachusetts General Hospital (MGH), in collaboration with Novelos, was awarded a $950,371 competitive grant by the National Institutes of Health (NIH) to study two Novelos compounds – NOV-002 and NOV-205 – for the mitigation and treatment of radiation-induced pulmonary injury. This 17-month grant will fund the assessment of both drug candidates in animal models designed to reflect pulmonary injury resulting from, for example, a terrorist incident involving a radiation-dispersal device (“dirty bomb”) or nuclear device or in a radiation accident such as at Chernobyl.
