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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">___________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">___________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report:&nbsp;&nbsp;April 9, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Date of earliest event reported</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOVELOS THERAPEUTICS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Exact name of registrant as specified
in its charter</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 3%; padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">333-119366</TD>
    <TD STYLE="width: 3%; padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: center">04-3321804</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(State or other jurisdiction</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>of incorporation)</I></P></TD>
    <TD STYLE="font-size: 10pt; font-style: italic">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Commission</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>File Number)</I></P></TD>
    <TD STYLE="font-size: 10pt; font-style: italic">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(IRS Employer</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Identification Number)</I></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>One Gateway Center, Suite 504</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Newton, MA&nbsp;&nbsp;02458</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Address of principal executive offices</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(617) 244-1616</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Registrant's telephone number, including
area code</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Written&nbsp;&nbsp;communications&nbsp;&nbsp;pursuant to Rule 425 under the&nbsp;&nbsp;Securities&nbsp;&nbsp;Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Soliciting&nbsp;&nbsp;material&nbsp;&nbsp;pursuant to Rule&nbsp;&nbsp;14a-12&nbsp;&nbsp;under the&nbsp;&nbsp;Exchange&nbsp;&nbsp;Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Wingdings">o</TD>
    <TD STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry
into a Material Definitive Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 9, 2012, we entered into a placement agent agreement
with Rodman &amp; Renshaw, LLC (Rodman) in connection with our proposed offering of up to $10 million in units consisting of common
stock and warrants and the shares of common stock underlying the warrants.&nbsp; The agreement provides that if the offering is
completed, we will be required to pay to Rodman a cash fee in the amount of 7% of the gross proceeds of the offering and to issue
a warrant to Rodman exercisable for a number of shares of our common stock equal to 5% of the number of shares of common stock
sold in the offering at an exercise price equal to 125% of the issue price of the units.&nbsp; Other than the exercise price, the
warrants would have the same terms as those issued to the investors in the offering.&nbsp; The agreement also provides for the
payment of a non-accountable expense allowance of 1% of gross proceeds of the offering and an advance payment of a portion of such
allowance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The placement agent agreement contains customary representations,
warranties and covenants of the parties and indemnification and contribution provisions under which the Company, on the one hand,
and Rodman, on the other hand, have agreed to indemnify each other against certain liabilities, including liabilities under the
Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A registration statement relating to the securities referenced
above has been filed with the Securities and Exchange Commission but has not yet become effective. The securities may not be sold
nor may offers to buy be accepted prior to the time the registration statement becomes effective. &nbsp;The registration statement
is available without charge on the website of the Securities and Exchange Commission at www.sec.gov and may also be obtained from
Novelos Therapeutics, Inc., Attn: Investor Relations, <FONT STYLE="font-family: Times New Roman, Times, Serif">One Gateway Center,
Suite 504, Newton, Massachusetts 02458</FONT>. You are encouraged to read the entire registration statement carefully.&nbsp; This
Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall
there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state or jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The summary of the placement agent agreement set forth in this
Item 1.01 does not purport to be complete. The agreement has been filed as an exhibit to the registration statement referenced
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;Dated: April 13, 2012</TD>
    <TD COLSPAN="2">NOVELOS THERAPEUTICS, INC.</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">By:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ Harry S. Palmin &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Harry S. Palmin</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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{"company-data": {"conformed-name": "NOVELOS THERAPEUTICS, INC.", "cik": "0001279704", "assigned-sic": "2834", "irs-number": "043321804", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-119366", "film-number": "12758035"}, "business-address": {"street1": "ONE GATEWAY CENTER, SUITE 504", "city": "NEWTON", "state": "MA", "zip": "02458", "phone": "617-244-1616"}, "mail-address": {"street1": "ONE GATEWAY CENTER, SUITE 504", "city": "NEWTON", "state": "MA", "zip": "02458"}, "former-company": {"former-conformed-name": "COMMON HORIZONS INC", "date-changed": "20040211"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________
FORM 8-K
___________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report:  April 9, 2012
(
Date of earliest event reported
)
NOVELOS THERAPEUTICS, INC.
(
Exact name of registrant as specified
in its charter
)
Delaware
333-119366
04-3321804
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification Number)
One Gateway Center, Suite 504
Newton, MA  02458
(
Address of principal executive offices
)
(617) 244-1616
(
Registrant's telephone number, including
area code
)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o
Written  communications  pursuant to Rule 425 under the  Securities  Act (17 CFR 230.425)
o
Soliciting  material  pursuant to Rule  14a-12  under the  Exchange  Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01           Entry
into a Material Definitive Agreement
On April 9, 2012, we entered into a placement agent agreement
with Rodman & Renshaw, LLC (Rodman) in connection with our proposed offering of up to $10 million in units consisting of common
stock and warrants and the shares of common stock underlying the warrants.  The agreement provides that if the offering is
completed, we will be required to pay to Rodman a cash fee in the amount of 7% of the gross proceeds of the offering and to issue
a warrant to Rodman exercisable for a number of shares of our common stock equal to 5% of the number of shares of common stock
sold in the offering at an exercise price equal to 125% of the issue price of the units.  Other than the exercise price, the
warrants would have the same terms as those issued to the investors in the offering.  The agreement also provides for the
payment of a non-accountable expense allowance of 1% of gross proceeds of the offering and an advance payment of a portion of such
allowance.
The placement agent agreement contains customary representations,
warranties and covenants of the parties and indemnification and contribution provisions under which the Company, on the one hand,
and Rodman, on the other hand, have agreed to indemnify each other against certain liabilities, including liabilities under the
Securities Act.
A registration statement relating to the securities referenced
above has been filed with the Securities and Exchange Commission but has not yet become effective. The securities may not be sold
nor may offers to buy be accepted prior to the time the registration statement becomes effective.  The registration statement
is available without charge on the website of the Securities and Exchange Commission at www.sec.gov and may also be obtained from
Novelos Therapeutics, Inc., Attn: Investor Relations,
One Gateway Center,
Suite 504, Newton, Massachusetts 02458
. You are encouraged to read the entire registration statement carefully.  This
Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall
there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state or jurisdiction.
The summary of the placement agent agreement set forth in this
Item 1.01 does not purport to be complete. The agreement has been filed as an exhibit to the registration statement referenced
above.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 13, 2012
NOVELOS THERAPEUTICS, INC.
By:
/s/ Harry S. Palmin
Harry S. Palmin
President and Chief Executive Officer