Elicio Therapeutics, a Phase 1/2 biotech developing novel immunotherapies for cancer, announced terms for its IPO on Tuesday.
The Cambridge, MA-based company plans to raise $40 million by offering 3.1 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Elicio Therapeutics would command a fully diluted market value of $201 million.
Elicio's lead candidate, ELI-002, is being developed to treat cancers driven by KRAS, a mutation found in approximately 25% of tumors. The company is conducting a Phase 1/2 trial of ELI-002 and anticipates initial safety, dose escalation, and correlative biomarker data in the 1H22. Elicio is also evaluating the potential use of ELI-004, its universal AMP-modified CpG adjuvant, and a component of ELI-002, in conjunction with other disease-specific antigens, to treat or prevent additional diseases.
Elicio Therapeutics was founded in 2011 and plans to list on the Nasdaq under the symbol ELTX. BTIG, and Oppenheimer & Co. are the joint bookrunners on the deal.
