Elicio Therapeutics (ELTX) Registration Filing summary

Company overview and business model

• Clinical-stage biotechnology company developing immunotherapies for cancer and infectious diseases using proprietary Amphiphile (AMP) technology to target lymph nodes and generate robust T cell responses.

• Lead programs include cancer vaccine candidates ELI-002 (Phase 2, mutant KRAS cancers), ELI-007 (preclinical, BRAF-driven cancers), and ELI-008 (preclinical, p53-mutated cancers).

• Strategy focuses on “off-the-shelf” vaccines targeting validated tumor mutation drivers, aiming to overcome limitations of current immunotherapies.

• Corporate history includes a 2023 merger with Angion Biomedica Corp, resulting in the current structure and name.

Financial performance and metrics

• Issued a $20 million 3.0% Senior Secured Convertible Promissory Note due February 15, 2026, in August 2024.

• Convertible Note is secured by first priority liens on substantially all assets and intellectual property.

• Interest accrues at 3% per annum, payable quarterly, with the first payment due June 30, 2025.

Use of proceeds and capital allocation

• No proceeds will be received from the resale of shares by the selling stockholder; all proceeds go to the selling stockholder.

• Company will bear registration and listing fees, while the selling stockholder covers brokerage and related expenses.