424B3: Prospectus filed pursuant to Rule 424(b)(3)
Published on December 21, 2007
Filed
pursuant to Rule 424(b)(3)
File
No. 333-143263
Prospectus
Supplement No. 3
(To
Prospectus dated September 6, 2007)
NOVELOS
THERAPEUTICS, INC.
12,000,000
shares of common stock
This
prospectus supplement supplements the Prospectus dated September 6, 2007,
relating to the resale of 12,000,000 shares of our common stock. This prospectus
supplement should be read in conjunction with the Prospectus.
Appointment
of Officers
On
December 17, 2007 the board of directors of Novelos Therapeutics, Inc. (the
“Company” or “Novelos”) appointed Joanne M. Protano to the position of Vice
President, Chief Financial Officer and Treasurer and appointed Kristin C.
Schuhwerk to the position of Vice President of Clinical Development, Operations.
In
connection with their appointments, Ms. Protano received an option to purchase
100,000 shares of the Company’s common stock and Ms. Schuhwerk received an
option to purchase 125,000 shares of the Company’s common stock. Both options
vest in equal annual installments over three years and have an exercise price
of
$0.451 per share which represents the closing price of the Company’s common
stock on December 17, 2007 as reported on the Over the Counter Bulletin Board.
Ms.
Protano succeeds George Vaughn, principal of Vaughn & Associates, P.C., as
Chief Financial Officer. Mr. Vaughn, who will continue to provide consulting
services to the Company, has served as the Company’s Chief Financial Officer on
a consulting basis from 2005 until the appointment of Ms. Protano.
Ms.
Protano, 39, has held the position of Senior Director of Finance and Controller
of the Company since June 2006. From 1996 to 2006, she held various management
and senior management positions with Ascential Software, Inc. and predecessor
companies including Assistant Controller, Reporting for Ascential Software,
Vice
President and Chief Financial Officer for the Ascential Software Division of
Informix Software, Inc. and Corporate Controller of Ardent Software, Inc. Prior
to her tenure in the technology industry, she was an audit manager with Deloitte
and Touche LLP, where she practiced as a certified public accountant from 1990
to 1996.
Ms.
Schuhwerk, 37, has been employed by the Company since July 2005 as
Director/Senior Director of Operations. Prior to her employment at Novelos,
she
worked in the biopharmaceutical industry managing and overseeing business
operations for multiple global Phase 2 and 3 clinical studies. From 2002 to
2005
she held the positions of Senior Project Manager and Director of Planning and
Business Operations in Clinical Development at Antigenics, Inc., a cancer
biotechnology company. From 1993 to 2002, she held research, project management
and management positions at Boston University Medical Center, Parexel
International, AstraZeneca and Brigham & Women’s Hospital.
Investing
in our common stock involves a high degree of risk.
See
Risk Factors beginning on page 6 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 December 21, 2007