Novelos expects to submit CLR1502 IND with FDA for non-invasive tumor imaging

Novelos Therapeutics, Inc. (OTCQX: NVLT), a pharmaceutical company developing novel drugs for the treatment and diagnosis of cancer, today announced that it is developing CLR1502 (GLOW2), a preclinical cancer-targeted optical imaging agent for intraoperative tumor margin illumination and non-invasive tumor imaging.  GLOW2 is expected to facilitate and enable diagnostic, staging, debulking and curative cancer surgeries intraoperatively in real time.  Novelos expects to submit an Investigational New Drug Application (IND) to the U.S. Food and Drug Administration (FDA) for GLOW2 in the second half of 2013 and begin clinical trials shortly thereafter.

"Current imaging modalities are extremely limited in their ability to define tumor margins, thus contributing to the unacceptably high rate of incomplete surgical removal of malignant tissue, which is associated with an increased risk of cancer recurrence," said Sharon Weber, M.D., Professor and Chief of Surgical Oncology, Vice Chair of Academic Affairs for General Surgery, University of Wisconsin Department of Surgery, and Director of Surgical Oncology, Carbone Cancer Center.  "The potential for GLOW2 to provide surgeons with more accurate visualization of tumor margins during surgery could result in more complete and selective removal of tumors and significantly improve patient outcomes.  I am excited to hear that Novelos is advancing the development of this product and look forward to the initiation of clinical trials, since the use of this technology could result in a profound positive impact on patient care."

"GLOW2 illustrates the broad spectrum cancer therapy and imaging potential of our proprietary phospholipid ether analog (PLE)-based delivery and retention vehicle which is also being used to selectively target cancer cells with a PET imaging agent (I-124-CLR1404, or LIGHT) and a molecular radiotherapeutic agent (I-131-CLR1404, or HOT) in ongoing clinical trials," said Jamey Weichert, Ph.D., Chief Scientific Officer and Technology Founder of Novelos.  "We plan to continue to explore coupling other therapeutic and diagnostic moieties to our tumor-targeted PLE carriers."