Organ recovery biotech Angion Biomedica files for a $35 million IPO

Angion Biomedica, which develops a therapy for injured organs that triggers the body's natural regenerative process, filed on Monday with the SEC to raise up to $35 million in an initial public offering. Its lead candidate is designed to speed the recovery time for patients after a kidney transplant, but Angion believes it can be used to prevent and repair damage to other organs as well.

The Uniondale, NY-based company, which was founded in 1998 and booked $7 million in grant revenue for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol ANGN. Angion Biomedica initially filed confidentially on March 4, 2014. Aegis Capital is the sole bookrunner on the deal. No pricing terms were disclosed.