Elicio Uses Reverse Merger With Angion To Go Public At Last

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 second quarter. Upon closing, Elicio shareholders are expected to own 65.5% of the new company with Angion shareholders owning approximately 34.5%