GENAERA ANNOUNCES $25 MILLION DIRECT EQUITY PLACEMENT

Genaera Corporation announced today that it has received signed securities purchase agreements from institutional investors, including existing shareholders, for the purchase of approximately 35.6 million shares of its common stock and warrants to purchase approximately 26.7 million shares of its common stock at a purchase price of $0.70385 per unit for aggregate gross proceeds of approximately $25.0 million.

Drug Newswire (http://www.drugnewswire.com/2866/)