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An organization affiliated with Renova Group purchased $2 million worth of stock of Novelos Therapeutics, according to the business journal ‘Vedomosti’ with reference to an American developer of pharmaceuticals for cancer treatment and diagnostics.
Multisectoral holding Renova expects a high growth rate of Novelos stock with reasonable current value of entry and risks, explains Renova’s representative AndreyShtorkh.
Drugs developed by Novelos can become the new standard in diagnostics, believes Mr. Shtorkh. The revenue generated by selling the stock is going to be reinvested by Novelos into development of a facility that will manufacture a drug for diagnosing malignant tumors.
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