Novelos Therapeutics will price $15 million public offering of stock

Underwriter Rodman & Renshaw assists; deal funds research, development

By Devika Patel

Knoxville, Tenn., July 1 - Novelos Therapeutics Inc. will price a $15 million public sale of its common stock, according to a Form S-1 filed Friday with the Securities and Exchange Commission.

The deal also has a greenshoe option.

Rodman & Renshaw, LLC is the underwriter.

Proceeds will be used for research and development activities and for general corporate purposes.

Novelos is a Madison, Wis.-based biotechnology company.

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