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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. | 