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 Harry Palmin, President and CEO of Novelos, purchased 150,000 shares of the Company’s common stock on December 19, 2007, in open market transactions. In total, Mr. Palmin purchased 300,000 shares of common stock in open market transactions over the past thirteen months.
