NEWTON, Mass.--(BUSINESS WIRE)--Pro-Pharmaceuticals, Inc. (Amex: PRW), a company “Advancing Drugs Through Glycoscience®”, today announced it has entered into definitive agreements with new and existing institutional investors with respect to a private placement of its securities for gross proceeds of approximately $2.7 million, before commissions and offering expenses. The transaction is subject to customary closing conditions, and is expected to be completed upon approval by the American Stock Exchange. The Company plans to use the proceeds of this transaction for working capital.
