An IPO was off the table, but the immunotherapy experts at Elicio Therapeutics found a way to the public markets after all.
Elicio is merging with Angion Biomedica, a Uniondale, NY-based biotech that began searching for strategic alternatives last July after Phase II setbacks forced it to shutter all R&D work.
In classic reverse merger fashion, the combined company will operate under the Elicio name and focus on Elicio’s lymph node-targeting approach to treating cancer and other diseases — with the Elicio executive team, led by CEO Robert Connelly, running the show. The stock ticker will change, too: from $ANGN to $ELTX.
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