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Elicio Therapeutics (Nasdaq: ELTX), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, today announced the closing of its previously announced merger with Angion Biomedica Corp.

Elicio Therapeutics entered into a merger agreement as a wholly-owned subsidiary of Angion Biomedica Co. on Tuesday, becoming a Nasdaq-listed company.

Angion Biomedia Corp., a biopharmaceutical company that has focused on the discovery, development, and commercialization of novel small molecule therapeutics to address fibrotic diseases, announced that it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-10.

Elicio Therapeutics, a privately-held, clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer and other diseases, has entered into a definitive merger agreement with Angion Biomedica Corp under which Elicio will merge with a wholly-owned subsidiary of Angion in an all-stock transaction.

Angion Biomedica Corp announced that on December 15, 2022, it received a letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market notifying Angion that for the last 30 consecutive business days the bid price of Angion’s common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq listing rule 5450.