Elicio Therapeutics Raises $15M in 4.38M-Share Direct Offering to Fund Phase 1 Trial
ELTX•Elicio Therapeutics agreed to sell 4.38 million shares in a registered direct offering to raise about $15 million in gross proceeds. The company will use net proceeds and existing cash to advance ELI-002 7P into Phase 1 metastatic pancreatic cancer trials, support its pipeline, and cover corporate expenses.
1. Offering Details
Elicio Therapeutics entered into a definitive securities purchase agreement with two new institutional investors and a large existing shareholder to sell 4,380,313 shares of common stock in a registered direct offering for gross proceeds of approximately $15 million, with closing expected on or about July 6, 2026, subject to customary conditions.
2. Use of Proceeds
Net proceeds from the offering, together with existing cash and marketable securities, will primarily fund the planned Phase 1 clinical development of ELI-002 7P in metastatic pancreatic ductal adenocarcinoma, advance the company’s immunotherapy pipeline and platform, and support working capital and general corporate purposes.
3. Placement Agents and Registration
Titan Partners acted as lead placement agent and B. Riley Securities as co-placement agent under a Form S-3 shelf registration effective March 16, 2026, enabling the company to offer and sell shares via prospectus supplement in compliance with SEC requirements.
