Scoop: Calling off an IPO, a cancer and Covid-19 vaccine maker raises a Series C
An oncology and Covid-19 biotech led by a former Flagship Pioneering venture partner is close to wrapping up its Series C after a bear market shut the doors to a planned IPO, Endpoints News has learned.
Elicio Therapeutics has secured $37 million of its planned $40 million Series C, the company confirmed in an email to Endpoints. The Boston biotech had sought to list on Nasdaq as ELTX, with a draft registration statement filed in April 2021 and subsequent SEC filings showing ambitions to price between $12 to $14 apiece. The offering would’ve brought in about the same amount of capital as Elicio now seeks in its private round.
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