ANGN - Angion Biomedica: Buying Below IPO Price May Reward The Risk-On Investor

• Angion is pioneering a new approach to treating acute organ injuries with a pipeline of assets led by ANG-3777, a hepatocyte growth factor (HGF) mimetic.
• The company has a pivotal trial ongoing aimed at reducing the severity of Delayed Graft Function after kidney transplant.
• There's a partnership in place with Vifor Pharma potentially worth ~$1.9bn in milestone payments and royalties on net sales of ANG-3777 in renal indications.
• The kidney disease treatment space is characterised to an extent by late-stage trial failures or issues e.g. Akebia, FibroGen.
• That makes me slightly hesitant to recommend Angion, but the company is targeting multiple acute organ injury conditions, and whilst short of funds, the risk/reward profile is potentially promising.

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