• Brainstorm Cell Therapeutics Inc., of New York, filed a registration statement to raise $10 million through a public offering of common stock. Proceeds are expected to support the initiation of clinical trials in the U.S., along with R&D activities, working capital needs, capital expenditures and other general corporate purposes. The company started a Phase I/II trial last year to test its NurOwn autologous stem cell therapy in amyotrophic lateral sclerosis. Shares of Brainstorm (OTCQB:BCLI) closed Monday at 23 cents.
• EntreMed Inc., of Rockville, Md., said it received about $9.3 million from its previously disclosed financing round led by IDG-Accel China Growth Fund II LP and joined by other investors, including Emerging Technology Partners LLC and Tak W. Mak, director of the Campbell Family Institute for Breast Cancer Research. Proceeds will help EntreMed advance its Aurora A/angiogenic kinase inhibitor ENMD-2076, which is in Phase II for ovarian cancer. In connection with the financing, Michael Tarnow and Donald Brooks resigned from the board, while Mak was elected to the board and Wei-Wu He was named executive chairman. Shares of EntreMed (NASDAQ:ENMD), which have jumped more than 100 percent in the last month, gained 48 cents, or 20.4 percent, to close Monday at $2.83.
• Neuralstem Inc., of Rockville, Md., said it is raising $5.2 million in a registered direct placement of 5.2 million shares priced at $1 apiece. The company also agreed to issue to each investor a warrant to purchase a number of shares of common stock equal to the number of shares purchased by that investor in the offering, and the warrants have an exercise price of $1.02 per share. Proceeds from the offering, set to close Feb. 10, are expected to support general corporate purposes, including working capital, product development and capital expenditures. Neuralstem is working on a stem cell treatment, in Phase I studies in amyotrophic lateral sclerosis, and has moved into clinical testing with the lead compound from its neurodegenerative small-molecule drug platform. T.R. Winston & Co. LLC acted as exclusive placement agent. Shares of Neuralstem (AMEX:CUR) gained 7 cents Monday, to close at $1.09.