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EntreMed Raises $20 Million to Support Clinical Development Program
Date:9/17/2007

Secured Financing Led by GE Healthcare Financial Services

ROCKVILLE, Md., Sept. 17 /PRNewswire-FirstCall/ -- EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced that it has completed a $20 million secured loan agreement with a syndicate of lenders led by GE Healthcare Financial Services, and participated by Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc., and Oxford Finance Corporation. The full amount of the $20 million loan, less fees, was funded at closing.

James S. Burns, EntreMed President and Chief Executive Officer, commented on the financing, "This transaction provides EntreMed with a non-dilutive financing vehicle that strengthens our cash position and will fund anticipated clinical development expenses into 2009. The loan collateral includes EntreMed's interest in royalty revenues on sales of Celgene's Thalomid(R). We have been funded by three leading commercial finance organizations that specialize in life science companies, and I am grateful for their confidence in EntreMed."

Mr. Burns further commented, "Proceeds from this transaction will be used primarily to support development costs for our ongoing clinical studies with Panzem(R) NCD, MKC-1, and ENMD-1198, and to fund IND-directed activities for Panzem(R) in rheumatoid arthritis and our Aurora-angiogenesis inhibitor in oncology."

About EntreMed

EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem(R) NCD (2-methoxyestradiol or 2ME2) is currently in multiple Phase 2 clini
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SOURCE EntreMed, Inc.
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