• Novelos Therapeutics Inc., of Newton, Mass., raised $3 million through the private placement of 4.6 million shares priced at 65 cents per share, a premium to its Friday closing price of 52 cents. The company reported $5.5 million in cash and equivalents at June 30 and said the new money will carry it to the end of the year. Lead compound NOV-002, a chemoprotectant and a chemopotentiator, is in Phase III for lung cancer and Phase II for breast and ovarian cancers.

• Salix Pharmaceuticals Ltd., of Raleigh, N.C., said it plans to offer $50 million of convertible senior notes due 2028, as well as an additional $7.5 million of notes to cover any overallotments. Proceeds will be used to fund potential product acquisition or in-licensing activity as well as for product development and corporate purposes. Salix's approved travelers' diarrhea drug, rifaximin, is in Phase III trials of for irritable bowel syndrome. Shares of Salix (NASDAQ:SLXP) fell $1.19, or 13.4 percent, to close at $7.71 on Monday.

• XTL Biopharmaceuticals Ltd., of Valley Cottage, N.Y., filed a form F-3 foreign issuer shelf registration statement with the Security and Exchange Commission for the sale of 80 million ordinary shares in the form of 8 million American Depository Shares. Pricing and use of proceeds will be determined at the time of a future sale. XTL's serotonin and norepinephrine reuptake inhibitor Bicifadine is in Phase IIb for diabetic neuropathic pain.