Biotech Values

[DewDiligence]

ANGN reverse-merges with Elicio Therapeutics:

https://finance.yahoo.com/news/elicio-therapeutics-angion-enter-definitive-100000159.html

The combined company will work to advance ELI-002, a therapeutic cancer vaccine designed with Elicio’s proprietary lymph node-targeting AMP technology. ELI-002 is being evaluated in the AMPLIFY-201 Phase 1 trial (NCT04853017) in patients who have mKRAS-driven tumors including pancreatic ductal adenocarcinoma and colorectal cancer.

…Current Angion stockholders are expected to own approximately 34.5% of the newly combined company while Elicio stockholders will own 65.5% of the newly combined company, in each case on a fully diluted basis.

…Upon completion of the transaction, the combined company will operate under the Elicio Therapeutics name, and the combined company’s common stock is expected to trade on the Nasdaq Global Market under the ticker symbol “ELTX”.

ANGN has been a shell company since discontinuing all R&D in mid 2022 (#msg-169278373, #msg-169493717).