Harry S. Palmin, President and CEO, Director

Mr. Palmin has been President, CFO and Director of Novelos Therapeutics since 1998, and Acting CEO since January 2005. He was elected CEO in October 2005. Prior to joining Novelos, Mr. Palmin was Vice President, Lehman Brothers from 1996 to 1998 and was responsible for sales, product and risk management in Private Client Services. He was an Associate at Morgan Stanley & Co. from 1993 to 1996. Mr. Palmin has a B.A. degree in Economics and Business, magna cum laude, and an M.A. degree in International Economics and Finance from the International Business School at Brandeis University. He has studied at the London School of Economics and the Copenhagen Business School. Mr. Palmin is fluent in Russian and English.

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Christopher J. Pazoles, Ph.D., Vice President of Research & Development

Dr. Pazoles has more than 25 years of biopharmaceutical R&D and senior management experience. Most recently, he held a senior research and development position at the Abbott Bioresearch Center, a division of Abbott Laboratories, where he helped to establish the Department of Translational Medicine. In 1994, Dr. Pazoles joined the biotech industry as VP of Research for Phytera, a drug discovery and development company focused on infectious diseases and oncology, where he built and led a multi-discliplinary and multi-national research team and helped forge a variety of corporate alliances and partnerships. Previously, he spent 13 years as a researcher and senior manager with Pfizer where he had responsibility for programs in a variety of disease areas, including acute and chronic inflammatory diseases, osteoarthritis, asthma, pain and central nervous system disorders. Dr. Pazoles was involved in numerous pre-clinical and clinical development programs at Pfizer, ultimately serving as Director, Exploratory Development Planning. Dr. Pazoles holds a Ph.D. in microbiology from the University of Notre Dame.

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Kristin C. Schuhwerk, Vice President of Clinical Development, Operations

Ms. Schuhwerk has over 14 years of operations, research and management experience in life sciences. Over the past several years, she has worked in the biopharmaceutical industry managing and overseeing business operations for multiple global Phase 2 and 3 clinical studies. Most recently, Ms. Schuhwerk was the Director of Planning and Business Operations in Clinical Development at a cancer biotechnology company where she managed an annual budget of more than $30 million. Previously, she spent seven years as a researcher, manager and project director at Boston University Medical Center, AstraZeneca and Brigham & Women’s Hospital. Ms. Schuhwerk has a B.S. degree in Chemistry from the University of New Hampshire.

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Elias Nyberg, DVM, BVSc, MACVS, MRCVS, MBA, Vice President of Regulatory, Quality and Compliance

Dr. Nyberg has over 20 years of regulatory and senior management experience. Prior to joining Novelos in 2008, he was a regulatory advisor for two years for several companies including Labopharm and Novartis Phramaceuticals, Inc. From 2004-2006 Dr. Nyberg was the Vice President Regulatory Affairs for CombinatoRx. From 2001-2004 he served as the Senior Director International Regulatory Affairs for Biogen, where he was responsible for the EMEA part of the first simultaneous eCTD done for a monoclonal antibody at both the FDA and EMEA submitted on the same day. Dr. Nyberg has also held senior regulatory positions with INC Research/PRA International Inc., Astra Arcus AB, Pfizer Pharmaceuticals and Ciba-Geigy. Prior to his tenure in the biotechnology industry, Dr. Nyberg practiced as a veterinarian. He undertook his primary veterinary training in the Philippines followed by post doctorate work in South Africa and Australia. Dr. Nyberg earned an MBA in England and his specialty (diplomate) boards in Exotic Animal (Avian) Medicine (MACVS) in Australia. He is also a member of the Royal College of Veterinary Surgeons (MRCVS) in London.

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Joanne M. Protano, CPA, Vice President, Chief Financial Officer

Ms. Protano has over fifteen years of finance and accounting and management experience. Over the past 10 years she has held various management and senior management positions with Ascential Software, Inc. and predecessor companies. She served as 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. Her experience in those roles includes financial and strategic planning, SEC and financial reporting, mergers and acquisitions and the management of accounting operations. Prior to her tenure in the technology industry, she was an audit manager with Deloitte and Touche LLP where she served small and large clients in the technology and healthcare industries. She is a certified public accountant and has a BS in Business Administration from Bryant College.

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Kenneth Tew, Ph.D., D.Sc, Chairman of Scientific Advisory Board

Since 2004, Dr. Tew has been Professor and Chair of the Department of Cell and Molecular Pharmacology & Experimental Therapeutics at the Medical University of South Carolina. Previously, Dr. Tew was Chairman of the Department of Pharmacology and the G. Willing "Wing" Pepper Chair in Cancer Research at Fox Chase Cancer Center in Philadelphia. Dr. Tew is recognized worldwide for his research on cancer drug resistance and the development of drugs targeting glutathione-S-transferase function and over-expression of ABC transporters. Dr. Tew holds a number of patents, has over 120 peer reviewed and 90 review publications and co-authored a number of books. Dr. Tew has been the recipient of an Outstanding Investigator Grant from the National Cancer Institute, a Scientific Research Award from the American Cancer Society and a D.Sc. from the University of London. Dr. Tew received a Ph.D. in Biochemical Pharmacology from University of London, Institute for Cancer Research.

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Jeffrey A. Gelfand, M.D., Senior Medical Advisor

Dr. Jeffrey Gelfand is the Executive Director of the Sheldon and Miriam Adelson Medical Research Foundation, an organization focused on cancer research and cancer immunotherapy. In addition, Dr. Gelfand is the Senior Advisor for International Medical Affairs at Partners HealthCare System, the parent organization for the Massachusetts General Hospital, as well as a Senior Attending Physician at MGH and a Professor at Harvard Medical School. Until recently, Dr. Gelfand served as Director of the International Program of the Center for Integration of Medicine and Innovative Technology (CIMIT), a consortium of M.I.T., The Charles Stark Draper Laboratory, the Massachusetts General Hospital and the Brigham and Women's Hospital. CIMIT's focus is on the development of innovative approaches to medical problems by collaborative research between engineers and physicians. Previously, he had been Dean for Research at Tufts University School of Medicine and Senior Vice President for Research and Technology at the New England Medical Center, positions he assumed in March 1998. From 1994 to 1998, Dr. Gelfand was the Sheldon M. Wolff, MD Professor of Medicine and Chairman of the Department of Medicine of Tufts University School of Medicine and Physician-in-Chief at the New England Medical Center. A 1971 graduate of Tufts University School of Medicine, Dr. Gelfand subsequently did his clinical training at the Johns Hopkins Hospital and at the National Institutes of Health. He is board-certified in Internal Medicine, Infectious Diseases, and Clinical Immunology and Allergy. Dr. Gelfand is performing services for Novelos pro bono, thus he is not receiving any cash, stock or stock option compensation from Novelos.

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Michael Kurman, M.D., Oncology Consultant

Michael Kurman, M.D. is an independent consultant to the pharmaceutical, biotechnology and health care industries specializing in oncology and oncology drug development, with 24 years of experience. He received his B.S. in Biology from Syracuse University graduating summa cum laude and received his M.D. degree from Cornell University Medical College. Dr. Kurman started his career in the practice of oncology, during which he was an investigator on several oncology clinical trials. Since joining industry, he has held positions of progressively more responsibility in Janssen, Cytogen and US Bioscience, and was involved in the successful development or launch of four oncology products. Before starting his consultancy, Dr. Kurman was Vice President of Clinical Operations for Quintiles’ Oncology Division. His primary interests are in early/late phase oncology clinical trial design and drug development, and in strategic portfolio management. In addition, he serves on the Scientific Advisory Boards of several companies and is on the Board of Directors of Avalon Pharmaceuticals. Dr. Kurman is board certified in Internal Medicine and Oncology, and did his oncology training at Mt. Sinai Hospital in New York.

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Raymond S. Koff, M.D., Hepatology Consultant

Dr. Koff is Clinical Professor of Medicine at the University of Connecticut School of Medicine. He received his MD from the Albert Einstein College of Medicine, his training in Internal Medicine at Barnes Hospital, and his training in gastroenterology at the Massachusetts General Hospital. He has been Chief of Hepatology and Professor of Medicine at Boston University and Chairman of the Department of Medicine at MetroWest Medical Center in Framingham, Massachusetts. At the University of Massachusetts he served as Professor of Medicine and Director of Clinical Hepatology Research. He has served as an Associate Editor of Hepatology, and on the editorial boards of Gastroenterology, the American Journal of Gastroenterology, and Digestive Diseases and Sciences. His 155 journal articles include original publications in the New England Journal of Medicine, JAMA, the Annals of Internal Medicine, Hepatology, Gastroenterology, and the Lancet. He has written over 85 book chapters, two monographs, co-edited two books, and has edited an issue of Clinics in Liver Disease. He has a long-standing interest in viral hepatitis and its sequelae and has been a participant in numerous trials of therapy in chronic viral hepatitis.

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George R. Vaughn, CPA, Financial Consultant

Mr. Vaughn has more than twenty-five years of senior financial management expertise at Ernst & Young, and public and private companies. For the past ten years, Mr. Vaughn’s firm, Vaughn & Associates, P.C., has been providing life sciences and technology companies with part-time and interim CFO services, outsourced financial management, and tax advisory services. Mr. Vaughn is a certified public accountant and is a member of the American Institute of Certified Public Accountants and the Massachusetts Society of Certified Public Accountants. He received a B.S. degree from Stonehill College, Cum Laude.

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Stephen A. Hill, B.M. B.Ch., M.A., F.R.C.S., Chairman of the Board of Directors

Dr. Hill is President and CEO of Solvay Pharmaceuticals, Inc. From 1999-2008, he was President and CEO of ArQule, Inc. Previously, Dr. Hill was the Head of Global Drug Development at F. Hoffmann-La Roche Ltd. from 1997-1999. Dr. Hill joined Roche in 1989 as Medical Adviser to Roche Products in the United Kingdom. He held several senior positions there that included Medical Director, responsible for clinical trials of compounds across a broad range of therapeutic areas, including CNS, HIV, cardiovascular, metabolic and oncology products. Subsequently, he served as Head of International Drug Regulatory Affairs at Roche headquarters in Basel, Switzerland, where he led the regulatory submissions for seven major new chemical entities. Dr. Hill also was a member of Roche's Portfolio Management, Research, Development and Pharmaceutical Division Executive Boards. Prior to Roche, Dr. Hill served seven years with the National Health Service in the United Kingdom in General and Orthopedic Surgery. Dr. Hill is a Fellow of the Royal College of Surgeons of England and holds his scientific and medical degrees from St. Catherine's College at Oxford University.

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Michael J. Doyle, Director

Mr. Doyle is a distinguished entrepreneur and senior executive who has excelled at creating value for investors in healthcare and technology. He founded, built and operated a number of successful public and venture-backed companies, and is currently President and CEO of Advantedge Healthcare Solutions. Previously, Mr. Doyle was Chairman and CEO of Salesnet from 2000 to 2004, a global enterprise software provider that was one of the three founding companies in the on-demand customer relationship market. Salesnet was recognized in 2003 as one of the top 100 companies to work for in Massachusetts. Previously, he was founder Chairman and CEO of Standish Care / Carematrix, a provider of assisted living and long-term care services, from 1989 to 1997. He founded Standish, built it up through organic growth and a series of mergers and acquisitions, completed the first assisted living company IPO in 1992, and ultimately created an organization with approximately 2000 employees, a run rate of $100 million in revenue and market cap in excess of $500 million. Standish was named to the Inc 100 list as the 25th fastest growing public company in the US between 1991 and 1995. Mr. Doyle has made numerous appearances on CNN, CNBC, and is a frequent featured speaker at conferences. He has been featured or had articles published in The Wall Street Journal, New York Times, Boston Globe and other news media. Mr. Doyle is very active in community services. He received a BS degree in Biology and a minor in Community Health from Tufts University, and a MBA with a concentration in Finance and Health Care from the University of Chicago, where he was a Kaiser Fellow.

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Sim Fass, Ph.D., Director

Dr. Fass has 35 years of senior pharmaceutical management experience. He retired from Savient Pharmaceuticals (SVNT; formerly Bio-Technology General Corp) after a 21 year tenure in which he served as CEO and Chairman from 1997-2004; President and CEO from 1984-1997; and COO from 1983-1984. Savient develops and commercializes specialty pharmaceuticals, some of which are genetically engineered. Under Dr. Fass’ leadership, Savient achieved revenues in excess of $100 million in 2004. From 1980-1983, Dr. Fass was Vice President and General Manager of Wampole Laboratories, a division of Carter Wallace focusing on diagnostics of infectious diseases, immune-related disorders and reproduction. From 1969-1980, he held a number of marketing, sales and senior management positions at Pfizer, Inc in both pharmaceuticals and diagnostics. He received a BS degree in biology and chemistry from Yeshiva College and a doctoral degree in developmental biology/biochemistry from the Massachusetts Institute of Technology.

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James S. Manuso, Ph.D., Director

Dr. Manuso is currently Chairman, President and CEO of SuperGen, Inc. (NASDAQ: SUPG) and has served as a SuperGen Director since February 2001. He was a co-founder and immediate past President and CEO of Galenica Pharmaceuticals, Inc. Dr. Manuso co-founded and was general partner of PrimeTech Partners, a biotechnology venture management partnership, from 1998 to 2002, and Managing General Partner of The Channel Group LLC, an international life sciences corporate advisory firm. He was also President of Manuso, Alexander & Associates, Inc., management consultants and financial advisors to pharmaceutical and biotechnology companies. Dr. Manuso was a Vice President and Director of Health Care Planning and Development for The Equitable Companies (now Group Axa), where he also served as Acting Medical Director. He currently serves on the boards of privately-held KineMed, Inc. and Merrion Pharmaceuticals Ltd. (Dublin, Ireland). Previously, he co-founded and served as Vice Chairman and Chief Business Officer of ZyStor Therapeutics, and he served on the boards of Quark, Inflazyme, Supratek Pharma and other companies. Dr. Manuso earned a B.A. with Honors in Economics and Chemistry from New York University, a Ph.D. in Experimental Psychophysiology from the Graduate Faculty of The New School University, a Certificate in Health Systems Management from Harvard Business School, and an Executive M.B.A. from Columbia Business School. He is the author of over 30 chapters, articles and books on topics including health care cost containment and biotechnology company management. Dr. Manuso has taught and lectured at Columbia, New York University, Georgetown, Polytechnic University, and Waseda University (Japan) and he has delivered addresses at a multitude of professional and financial conferences throughout the world.

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David B. McWilliams, Director

Mr. McWilliams, is an executive with over 30 years experience building public and private biopharmaceutical/healthcare companies. He is currently CEO of Opexa Therapeutics, Inc. (OPXA). Since 1992, Mr. McWilliams was President, CEO and Director of Encysive Pharmaceuticals (ENCY). At Encysive, he raised $250 million in public financings and corporate partnerships; licensed, developed and got FDA approval for anticoagulant (Argatroban - launched by GSK in 4Q2000); and built a portfolio of products through acquisition and internal discovery, with three compounds in Phase II/III testing for four indications. From 1980 to 1992, Mr. McWilliams was President and CEO of several healthcare companies. From 1972 to 1980, he was an executive at Abbott Laboratories, rising up to General Manager of South Africa. Previously, he was a management consultant at McKinsey & Co. Mr. McWilliams received an MBA in Finance from University of Chicago, and B.A. in Chemistry, Phi Beta Kappa, from Washington and Jefferson College. Mr. McWilliams has been a Director of Texas Health Plan, GenTrans Technology, Zonagen (ZONA), Encysive Pharmaceuticals (ENCY), DIFCO Laboratories and Structural Bioinformatics. He is currently a Director of Fairway Medical Technologies, Houston Technology Center, and Texas Healthcare and Bioscience Institute.

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Harry S. Palmin, President and CEO, Director

Mr. Palmin has been President, CFO and Director of Novelos Therapeutics since 1998, and Acting CEO since January 2005. He was elected CEO in October 2005. Prior to joining Novelos, Mr. Palmin was Vice President, Lehman Brothers from 1996 to 1998 and was responsible for sales, product and risk management in Private Client Services. He was an Associate at Morgan Stanley & Co. from 1993 to 1996. Mr. Palmin has a B.A. degree in Economics and Business, magna cum laude, and an M.A. degree in International Economics and Finance from the International Business School at Brandeis University. He has studied at the London School of Economics and the Copenhagen Business School. Mr. Palmin is fluent in Russian and English.

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Howard M. Schneider, Director

Mr. Schneider has over 35 years experience as a senior financial industry executive and more recently as president of two technology start-ups. He was an executive with Bankers Trust Company from 1965-1999, where he was President of BT Securities Corporation for ten years, taking this corporate vehicle from 2 employees to 900, with annual revenues in excess of $1 billion. Mr. Schneider has provided testimony and lobbied before Congress and the executive branch on numerous occasions. Mr. Schneider served as a director of Penril DataComm, a NASDAQ-listed company, from 1988 until its successful sale in 1996. During the last four years of that tenure, he was also chairman of the audit committee. He is an active volunteer with community and educational institutions. Mr. Schneider received an AB magna cum laude in Economics from Harvard College, and received an MBA with distinction from New York University.

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