Elicio Therapeutics Reports Inducement Grant to New Chief Strategy and Financial Officer and Other New Hires
BOSTON, April 16, 2025 (GLOBE NEWSWIRE) -- Elicio Therapeutics, Inc. (NASDAQ:ELTX, "Elicio Therapeutics" or "Elicio")), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, today announced that on April 15, 2025, Elicio granted inducement awards to Elicio's newly appointed Chief Strategy and Financial Officer, Preetam Shah, and two additional new employees, as an inducement material to Dr. Shah and such employees entering into employment with Elicio in accordance with Nasdaq Listing Rule 5635(c)(4), which grants were approved by the compensation committee of Elicio's board of directors in accordance with the Elicio 2024 Inducement Incentive Award Plan.
The grant to Dr. Shah provides for the issuance of 191,624 stock options. Additionally, the grants to the two employees provide for the issuance of an aggregate of 21,000 stock options. Each grant provides for the purchase of shares of Elicio common stock at a price of $4.98 per share, the closing price per share of Elicio common stock as reported by Nasdaq on April 15, 2025, the date of each grant.
Each of the grants vest over four years, with 25 percent of the shares vesting on the first anniversary of Dr. Shah's and each employee's respective start date, and the remainder vesting ratably at the end of each subsequent month thereafter, subject to such individual's continued service relationship with Elicio through the applicable vesting dates.
About Elicio Therapeutics
Elicio Therapeutics, Inc. (NASDAQ:ELTX) is a clinical-stage biotechnology company advancing novel immunotherapies for the treatment of high-prevalence cancers, including mKRAS-positive pancreatic and colorectal cancers. Elicio intends to build on recent clinical successes in the personalized cancer vaccine space to develop effective, off-the-shelf vaccines. Elicio's Amphiphile ("AMP") technology aims to enhance the education, activation and amplification of cancer-specific T cells relative to conventional vaccination strategies, with the goal of promoting durable cancer immunosurveillance in patients. Elicio's ELI-002 lead program is an off-the-shelf vaccine candidate targeting the most common KRAS mutations, which drive approximately 25% of all solid tumors. ELI-002 is being studied in an ongoing, randomized clinical trial in patients with mKRAS-positive pancreatic cancer who completed standard therapy but remain at high risk of relapse. Elicio's pipeline includes additional off-the-shelf therapeutic cancer vaccines, including ELI-007 and ELI-008, that target BRAF-driven cancers and p53 hotspot mutations, respectively. For more information, please visit www.elicio.com.
Investor Relations Contact
Brian Ritchie
LifeSci Advisors, LLC
(212) 915-2578
