424B3: Prospectus filed pursuant to Rule 424(b)(3)
Published on September 19, 2007
Filed
pursuant to Rule 424(b)(3)
File
Nos. 333-133043
333-129744
Prospectus
Supplement No. 6
(To
Prospectus dated March 28, 2007)
NOVELOS
THERAPEUTICS, INC.
34,285,449
shares of common stock
____________________
This
prospectus supplement supplements the Prospectus dated March 28, 2007, relating
to the resale of 34,285,449 shares of our common stock. This prospectus
supplement should be read in conjunction with the Prospectus.
Election
of Director
On
September 14, 2007 the board of directors of Novelos Therapeutics, Inc. (the
“Company”) increased the number of directors to eight and elected Stephen A.
Hill, B.M. B.Ch., M.A., F.R.C.S., as chairman of the Company’s board of
directors. Upon his election, Dr. Hill received an option to purchase 150,000
shares of the Company’s common stock at an exercise price of $0.70 per share
which represents the closing price of the Company’s common stock on September
14, 2007 as reported on the Over the Counter Bulletin Board, vesting quarterly
over two years. Dr. Hill will also receive a $15,000 annual fee for his service
as chairman as well as quarterly director fees and compensation for meeting
attendance consistent with the Company’s practice for other independent
directors.
____________________
Investing
in our common stock involves a high degree of risk.
See
Risk Factors beginning on page 7 of the Prospectus.
____________________
Neither
the Securities and Exchange Commission nor any state securities commission
has
approved or disapproved of these securities or passed on the adequacy or
accuracy of this prospectus supplement. Any representation to the contrary
is a
criminal offense.
____________________
The
date
of this prospectus supplement is September 19, 2007