Elicio Therapeutics Announces $7.0 Million Private Placement Financing
BOSTON, Dec. 22, 2023 (GLOBE NEWSWIRE) — Elicio Therapeutics, Inc. (Nasdaq:ELTX, “Elicio Therapeutics” or “Elicio”), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, announced today that it has entered into a subscription agreement to sell 1,213,000 shares of its common stock at a purchase price of $5.81 per share in a private placement to GKCC, LLC. GKCC, LLC is an entity controlled by a member of Elicio’s Board of Directors. Gross proceeds of the private placement are expected to be approximately $7.0 million, before deducting expenses. The private placement is expected to close on December 22, 2023, subject to the satisfaction of customary closing conditions.
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