Elicio Therapeutics Completes Reverse Merger and Provides a Corporate Update

• Elicio completes reverse merger, becoming a publicly traded company on the Nasdaq stock exchange
  
• Positive Phase 1 clinical data was recently presented at ASCO 2023 for the 2-peptide formulation of Elicio’s lead program, ELI-002, the first and only lymph node-targeted mutant KRAS (mKRAS) immunotherapy
• AMPLIFY-7P, a Phase 1/2 study of the 7-peptide formulation of ELI-002, is now enrolling patients with mKRAS-driven cancers
• Appointment of Brian Piekos as the company’s first Chief Financial Officer

BOSTON, June 06, 2023 (GLOBE NEWSWIRE) -- Elicio Therapeutics (NASDAQ:ELTX), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, provides a corporate update on a series of advancements for the company, including the completion of its reverse merger earlier this month in an all-stock transaction. The Company will continue to be led by Robert Connelly, Chief Executive Officer, and the rest of the Elicio leadership team, including Brian Piekos who joined as the company’s Chief Financial Officer in May. Elicio’s primary focus will continue to be the advancement of lead candidate, ELI-002, an investigational immunotherapy, through clinical trials. ELI-002 has been designed with the Company’s proprietary lymph node-targeting Amphiphile (AMP) technology and is currently being studied in patients with mutant KRAS (mKRAS)-driven cancers who have minimal residual disease (MRD) following surgery and chemotherapy.

“I’m proud to lead Elicio at this exciting time when we’ve executed a successful merger and have presented positive data on ELI-002 at this year’s ASCO Meeting,” said Robert Connelly, Chief Executive Officer at Elicio Therapeutics. “Over the last two years, our team has worked tirelessly to meet our financial and pipeline milestones. I’m pleased to welcome Brian and his public company experience to the leadership team as we transition to a Nasdaq-listed company. Since the January merger announcement, we have been gathering the critical resources that will allow us to continue moving the ELI-002 program forward to meet the significant unmet need in the KRAS oncology space.”