EntreMed, Inc.
Pharmaceutical company to acquire Miikana Therapeutics
Published in Oncology Business Week, January 29th, 2006
EntreMed, Inc., (ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, announced that it has entered into a definitive merger agreement under which it will acquire all of the outstanding capital stock of Miikana Therapeutics, Inc., in exchange for 9.96 million shares of EntreMed common stock valued at approximately $21.2 million, based on the closing price of EntreMed's common stock on Wednesday, December 21, 2005.
In addition, EntreMed may pay up to an additional $18 million upon the achievement of certain clinical and regulatory milestones. Such additional payments will be made in cash or shares...
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