Elicio Therapeutics Entered into a Definitive Merger Agreement with Angion to Advance ELI-002 for Cancer
Shots:
- Elicio’s stockholders will receive newly issued shares of Angion common stock & $10M in bridge loan. The transaction is expected to close in Q2’23
- The combined company will operate under the name Elicio Therapeutics & common stock is expected to be listed on the Nasdaq under the ticker symbol “ELTX”. Angion stockholders will own ~ 34.5% & Elicio stockholders will own ~65.5% of the newly combined company
- The combined companies’ focus is to advance Elicio’s lymph node-targeting amphiphile technology to develop immunotherapies & also focus on ELI-002, a therapeutic cancer vaccine targeting mKRAS-driven tumors is currently being evaluated in the P-I trial (AMPLIFY-201) for PDAC and CRC. The additional P-Ib/II trial is expected to be planned in H2’23
Ref: Globe Newswire | Image: Angion
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