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Elicio Uses Reverse Merger With Angion To Go Public At Last

 
• By Joseph Haas

After withdrawing IPO plans last September, Elicio thinks merger with Angion will give it a cash runway through end of 2023 to advance ELI-002, a vaccine for mutant KRAS-driven solid tumors.

Lymph nodes
Elicio's cancer vaccines target the lymph nodes • Source: Shutterstock

After attempting to get through the initial public offering window without success during 2021-2022, Elicio Therapeutics is taking its lymph node-directed cancer vaccine technology public through a reverse merger with troubled Angion Biomedica Corp., which began considering strategic options last summer after multiple clinical development setbacks with its renal disease candidate ANG-3777.

The US biotechs announced their plan to merge on 17 January in an all-stock transaction agreed to unanimously by both companies’ boards of directors and expected to close during the...

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