InvestmentJul 2, 2026, 12:26 AM
Elicio Therapeutics Raises $15M in Registered Direct Offering
AI Summary
Elicio Therapeutics, Inc. announced a definitive securities purchase agreement for a registered direct offering, expected to generate gross proceeds of approximately $15 million. The offering involves the sale of 4,380,313 shares of common stock to new institutional investors and a large existing shareholder. The company intends to use the net proceeds to primarily fund the planned Phase 1 clinical development of ELI-002 7P in metastatic PDAC, as well as its pipeline, platform, and general corporate purposes. The closing is anticipated around July 6, 2026.
Key Highlights
- Elicio Therapeutics entered a definitive securities purchase agreement for a registered direct offering.
- The offering is expected to result in gross proceeds of approximately $15 million.
- 4,380,313 shares of common stock will be purchased.
- Led by two new fundamental institutional investors with participation from a large existing shareholder.
- Net proceeds will primarily fund planned Phase 1 clinical development of ELI-002 7P in metastatic PDAC.
- Funds will also support Elicio’s pipeline and platform, working capital, and general corporate purposes.
- Closing is expected on or about July 6, 2026, subject to customary conditions.
- Titan Partners and B. Riley Securities, Inc. are acting as placement agents.
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