Angion Biomedica, a Phase 3 biotech developing small molecule therapies for acute organ injuries, filed on Friday with the SEC to raise up to $75 million in an initial public offering. The company had previously filed to raise $30 million in May 2014 but withdrew the following October, citing market conditions.
The company's lead candidate, ANG-3777, is a hepatocyte growth factor (HGF) mimetic that is currently being evaluated in multiple acute organ injuries and related indications. The candidate is currently in a Phase 3 registrational trial to improve kidney function and reduce the severity of DGF following deceased-donor kidney transplantation in patients showing evidence of early kidney dysfunction, with topline data expected by the end of 2021.
The Uniondale, NY-based company was founded in 1998 and booked $3 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol ANGN. Angion Biomedica filed confidentially on February 14, 2020. Cowen and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
