Jun. 4 at 12:14 PM
$ELTX Elicio Therapeutics secures
$10M in financing
Elicio Therapeutic has entered a
$10M senior secured promissory note with existing investor, GKCC. The proceeds from the Note Financing, together with Elicio's current cash and cash equivalents, are expected to support Elicio's operations into the first quarter of 2026, beyond the anticipated AMPLIFY-7P Phase 2 interim analysis expected in the third quarter of 2025. The Company received gross proceeds of
$10M in the Note Financing.
The Note bears an interest rate of up to 12.5%, and matures on June 3, 2028. It includes a 24-month interest-only period, and interest accrued during the first 12 months is payable in a lump sum beginning on the thirteenth month after closing. In connection with the Note Financing, the Company also issued the Note Holder warrants to purchase an aggregate of 103,225 shares of Elicio's common stock with an exercise price of
$7.75 per share. The warrants are immediately exercisable and will expire five years from the date of issuance.
