September 9, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — EntreMed, Inc. (NASDAQ: ENMD), a clinical-stage pharmaceutical company said that it has entered into a securities purchase agreement with a group of strategic investors for gross proceeds of around $5.1 million.

The company said it expects to complete the offering on or about September 8. EntreMed said the financing will provide capital to fund operations through 2011 and enable the company to move forward with expansion of development plans for its ENMD-2076, which is currently in Phase 1 and Phase 2 clinical trials.

The company said that an ongoing Phase 2 trial of ENMD-2076 in ovarian cancer patients continues on track and the company looks forward to the presentation of data early in 2011.

The investor group was led by Tak W. Mak, Ph.D., director of The Campbell Family Institute for Cancer Research, and includes scientific advisors to EntreMed as well as experienced investors who have expertise both in oncology drug development and in drug development in the China markets.

Maryland-based EntreMed is focused on developing ENMD-2076, a selective angiogenic kinase inhibitor, for the treatment of cancer. ENMD-2076 is currently in a multi-center Phase 2 study in ovarian cancer and in several Phase 1 studies in solid tumors, multiple myeloma, and leukemia.  

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