Can­cer vac­cine de­vel­op­er jumps to Nas­daq via re­verse merg­er

An IPO was off the ta­ble, but the im­munother­a­py ex­perts at Eli­cio Ther­a­peu­tics found a way to the pub­lic mar­kets af­ter all.

Eli­cio is merg­ing with An­gion Bio­med­ica, a Union­dale, NY-based biotech that be­gan search­ing for strate­gic al­ter­na­tives last Ju­ly af­ter Phase II set­backs forced it to shut­ter all R&D work.

In clas­sic re­verse merg­er fash­ion, the com­bined com­pa­ny will op­er­ate un­der the Eli­cio name and fo­cus on Eli­cio’s lymph node-tar­get­ing ap­proach to treat­ing can­cer and oth­er dis­eases — with the Eli­cio ex­ec­u­tive team, led by CEO Robert Con­nel­ly, run­ning the show. The stock tick­er will change, too: from $ANGN to $ELTX.

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