• EntreMed Inc., of Rockville, Md., raised $10 million through the issuance of convertible notes and warrants to certain accredited investors. The company issued $10 million worth of notes as well as warrants equal to 20 percent of the principal amount of the notes, divided by $1.15. Proceeds of $9.3 million will help EntreMed advance its Aurora A/angiogenic kinase inhibitor ENMD-2076, which is in Phase II for ovarian cancer.

• PharmaGap Inc., of Ottawa, Ontario, raised $231,000 in a private offering of 3.3 million units for 7 cents apiece. Each unit consists of one common share and one warrant to purchase an additional share at $0. 10 within three years. PharmaGap is developing peptide-based drugs for cancer.

• Tonix Pharmaceuticals Holding Corp., of New York, raised $4.3 million in a private placement of stock and warrants. The company sold 172 units for $25,000 apiece, with each unit consisting of 25,000 shares of common stock, Class A warrants to purchase 25,000 shares of common stock and Class B warrants to receive up to 25,000 shares of common stock. Net proceeds were $1.9 million, and an additional $1.9 million of previously issued convertible debentures converted into the offering. Proceeds will be used for trials of TNX-102 for fibromyalgia syndrome and for other products and uses.

• TVAX Biomedical Inc., of Lanexa, Kan., set a price range for its proposed initial public offering (IPO), in which it anticipates selling 2 million shares priced between $9 and $11. At the midpoint range, the IPO would result in gross proceeds of $20 million, half of what the cancer immunotherapy firm hoped to raise when it filed its S-1 in November 2011. (See BioWorld Today, Nov. 9, 2011.)