EntreMed, Innovative Therapeutics Inc. deal

ENMD’s newly created Cytokine Sciences subsidiary completed the acquisition of Innovative Therapeutics through the issuance of 15 percent of Cytokine Science’s shares. ENMD also agreed to make a $250,000 capital contribution to Cytokine Sciences, and to provide research funding of $1.6 million over the next two years. ENMD owns 85 percent of Cytokine Sciences after the transaction. ...