Angion Biomedica, a Phase 3 biotech developing small molecule therapies for acute organ injuries, raised $80 million by offering 5 million shares at $16, the high end of the range of $14 to $16.
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.
Angion Biomedica plans to list on the Nasdaq under the symbol ANGN. Cowen and Stifel acted as lead managers on the deal.
