Elicio Therapeutics closes $15M registered direct offering

Elicio Therapeutics, Inc. (Nasdaq: ELTX) announced the closing of a registered direct offering, raising approximately $15 million in gross proceeds before placement agent fees and other expenses.

The offering involved the sale of 4,380,313 shares of common stock, with participation from two new institutional investors and one existing shareholder, according to a press release from the Boston-based clinical-stage biotechnology company.

Elicio said it intends to use the net proceeds primarily to fund the planned Phase 1 clinical development of its lead candidate, ELI-002 7P, in metastatic pancreatic ductal adenocarcinoma (PDAC), as well as to advance its broader pipeline and platform. Remaining funds will support working capital and general corporate purposes.

Titan Partners, a division of American Capital Partners, served as lead placement agent. B. Riley Securities acted as co-placement agent.

ELI-002 7P previously was evaluated in the randomized Phase 2 AMPLIFY-7P trial in patients with KRAS mutation-positive pancreatic cancer who had completed standard therapy but remained at high risk of relapse. Elicio said it plans to initiate a Phase 1 study in metastatic PDAC to assess clinical activity and evaluate checkpoint inhibitor combinations, with findings intended to inform future development in both metastatic and adjuvant PDAC settings.

The offering was conducted under a shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission on March 16, 2026.

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