Entremed (ENMD)

[justwaitandsee]

News
ROCKVILLE, MD, April 16, 2010 – EntreMed, Inc. (Nasdaq: ENMD)
today announced that it completed a registered direct offering of
5,791,505 shares of its common stock, at a purchase price of $0.518
per share, to an existing accredited institutional investor. The
sale resulted in gross proceeds to the Company of approximately $3
million. The terms of the purchase were set forth in a stock
purchase agreement between the parties dated April 16, 2010. The per
share purchase price reflects a 20% discount to the volume weighted
average price on April 15, 2010.

EntreMed plans to use the net proceeds of the offering, which are
expected to be approximately $2.8 million after deducting the
placement agent’s fee and estimated offering expenses payable by
EntreMed, to further clinical development of its Aurora A/angiogenic
kinase inhibitor, ENMD-2076, and for other general corporate
purposes. EntreMed recently announced the initiation of a Phase 2
study in ovarian cancer patients after encouraging Phase 1 results.


Michael M. Tarnow, EntreMed’s Executive Chairman of the Board,
commented on the recent financing, “We are pleased to have
completed another round of financing this year which will provide
additional support to the clinical development of ENMD-2076. The
proceeds of this financing will extend our cash runway and provide us
with the necessary timeframe for Phase 2 data to mature.”

These securities are being offered through a prospectus supplement
and accompanying base prospectus pursuant to the Company’s
effective shelf registration statement, previously filed and declared
effective by the Securities and Exchange Commission (SEC). The
prospectus supplement related to the offering will be filed with the
SEC. Wharton Capital Markets LLC acted as the exclusive placement
agent in connection with this transaction. Copies of the final
prospectus supplement and accompanying base prospectus can be
obtained from Wharton Capital Markets LLC at 444 Madison Avenue, 40th
Floor, New York, NY 10022, or at the SEC’s website at www.sec.gov.

This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any of the securities,
nor shall there be any sale of the securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any state.

About EntreMed
EntreMed, Inc. is a clinical-stage pharmaceutical company committed
to developing primarily ENMD-2076, a selective angiogenic kinase
inhibitor, for the treatment of cancer. ENMD-2076 is currently in
Phase 1 studies in advanced cancers, multiple myeloma, and leukemia
and a multi-center Phase 2 study in ovarian cancer. Additional
information about EntreMed is available on the Company’s web site
at www.entremed.com and in various filings with the Securities and
Exchange Commission.

Forward Looking Statements
This release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act with respect to the
outlook for expectations for future financial or business
performance, strategies, expectations and goals. Forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Forward-looking statements
speak only as of the date they are made, and no duty to update
forward-looking statements is assumed. Actual results could differ
materially from those currently anticipated due to a number of
factors, including those set forth in Securities and Exchange
Commission filings under "Risk Factors," including the risk that we
may be unable to continue as a going concern as a result of our
inability to raise sufficient capital for our operational needs; the
possibility that we may be delisted from trading on the Nasdaq
Capital Market; the volatility of our common stock; risks relating to
the need for additional capital and the uncertainty of securing
additional funding on favorable terms; the failure to consummate a
transaction to monetize the royalty stream for any reason, including
our inability to obtain the required third-party consents; declines
in actual sales of Thalomid® resulting in reduced revenues; risks
associated with the Company’s product candidates; the early-stage
products under development; results in preclinical models are not
necessarily indicative of clinical results; uncertainties relating to
preclinical and clinical trials, including delays to the commencement
of such trials; success in the clinical development of any products;
dependence on third parties; future capital needs; and risks relating
to the commercialization, if any, of the Company's proposed products
(such as marketing, safety, regulatory, patent, product liability,
supply, competition and other risks).