EntreMed to raise $10.8 million

EntreMed Inc. (NASDAQ:ENMD) plans to raise $10.8 million through the sale of 4.5 million units at $2.40 in a registered direct offering. Each unit comprises a share and a three-year warrant to purchase 0.5 shares, with each whole warrant exercisable at $2.95. The company said it has received commitments from investors, including Kleiner Perkins Caufield & Byers and IDG-Accel. Burrill Securities is placement agent. ...