ANGN - Angion plummets 20% on merger agreement with Elicio Therapeutics
- Clinical-stage biotechnology company, Elicio Therapeutics to merge wit h a wholly-owned subsidiary of Angion Biomedica ( NASDAQ: ANGN ) in an all-stock transaction.
- The combined company will continue under the Elicio Therapeutics name and will focus on advancing Elicio’s proprietary lymph node-targeting Amphiphile (AMP) technology to develop immunotherapies, with a focus on ELI-002, a therapeutic cancer vaccine targeting mKRAS-driven tumors.
- “The merger with Angion comes at an ideal time with ELI-002 now completing the dose escalation portion of Phase 1 clinical studies in patients. We believe Elicio is at the forefront of changing the tide regarding how cancers with these mutations, which account for 25% of human solid tumors, are treated,” said Robert Connelly, CEO.
- ANGN slumps 21% .
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Angion plummets 20% on merger agreement with Elicio Therapeutics