Novelos Therapeutics: To present at the 16th Annual BIO CEO & Investor Conference

MADISON, Wis., Feb. 10, 2014 (GLOBE NEWSWIRE) — Novelos Therapeutics,
Inc. (OTCQX:NVLT) a biopharmaceutical company developing novel agents
to detect, treat and monitor a broad spectrum of cancers, today
announced that Dr. Simon Pedder, acting president and CEO of Novelos,
will present at the 16th Annual BIO CEO & Investor Conference on
Tuesday, February 11, 2014 at 10:30 am EST at the Waldorf Astoria in
New York City.

A live audio webcast of the presentation will be available on
Cellectar’s website at

About Novelos Therapeutics, Inc.

We are a pharmaceutical company developing novel agents for the
treatment and diagnosis of cancer. Our cancer-targeted compounds are
selectively taken up and retained in cancer cells, including cancer
stem cells. I-124-CLR1404 (LIGHT) is a small-molecule, broad-spectrum,
cancer-targeted PET imaging agent. LIGHT Phase 1-2 clinical trials are
ongoing across 11 solid tumor indications. I-131-CLR1404 (HOT) is a
small-molecule, broad-spectrum, cancer-targeted molecular
radiotherapeutic that delivers cytotoxic radiation directly and
selectively to cancer cells and cancer stem cells. Results from a HOT
Phase 1b dose-escalation trial in patients with advanced solid tumors
are anticipated in the first quarter of 2014. CLR1502 (GLOW2) is a
preclinical, cancer-targeted, non-radioactive optical imaging agent for
intraoperative tumor margin illumination and non-invasive tumor
imaging. Together, we believe our compounds are able to “find, treat
and follow” cancer anywhere in the body in a novel, effective and
highly selective way. For additional information please visit

This news release contains forward-looking statements. You can identify
these statements by our use of words such as “may,” “expect,”
“believe,” “anticipate,” “intend,” “could,” “estimate,” “continue,”
“plans,” or their negatives or cognates. These statements are only
estimates and predictions and are subject to known and unknown risks
and uncertainties that may cause actual future experience and results
to differ materially from the statements made. These statements are
based on our current beliefs and expectations as to such future
outcomes. Drug discovery and development involve a high degree of risk.
Factors that might cause such a material difference include, among
others, uncertainties related to the ability to raise additional
capital, uncertainties related to the ability to attract and retain
partners for our technologies, the identification of lead compounds,
the successful preclinical development thereof, the completion of
clinical trials, the FDA review process and other government
regulation, our pharmaceutical collaborators’ ability to successfully
develop and commercialize drug candidates, competition from other
pharmaceutical companies, product pricing and third-party
reimbursement. A complete description of risks and uncertainties
related to our business is contained in our periodic reports filed with
the Securities and Exchange Commission including our Form 10-K for the
year ended December 31, 2012 and in our subsequent quarterly reports on
Form 10-Q. These forward-looking statements are made only as of the
date hereof, and we disclaim any obligation to update any such
forward-looking statements.