Angion merges with Elicio in all-stock deal; Elicio holders to own 65.5% of combined company

Elicio Therapeutics, Inc.

Elicio stockholders will own 65.5% and Angion stockholders 34.5% of combined company on a fully-diluted basis.
Combined company to focus on Elicio's ELI-002 therapeutic cancer vaccine targeting mKRAS-driven tumors, currently in Phase 1 trial.
Angion committed up to $10M bridge loan to Elicio in two installments; merger expected to close in Q2 2023.
Robert Connelly, CEO of Elicio, will be CEO of combined company; board will have 9 directors with 6 from Elicio and 3 from Angion.
Angion adopted retention bonus plan for CEO and CBO, providing cash bonuses and accelerated equity vesting upon closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Elicio Therapeutics, Inc. entered into Agreement and Plan of Merger and Reorganization with Angion Biomedica Corp. (effective 2023-01-17).

Action: entry
Agreement: merger
Counterparty: Angion Biomedica Corp.
Effective: 2023-01-17

Exact text from the filing

On January 17, 2023, Angion Biomedica Corp. , a Delaware corporation (“Angion”), entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with Elicio Therapeutics, Inc., a Delaware corporation (“Elicio”)

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Elicio Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-001714

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