Organ recovery biotech Angion Biomedica sets terms for $30 million IPO
Angion Biomedica, which is developing therapies for injured
organs that trigger the body's natural regeneration, announced
terms for its IPO on Friday. The Uniondale, NY-based company
plans to raise $30 million by offering 2.7 million shares at a
price range of $10 to $12. At the midpoint of the proposed range,
Angion Biomedica would command a fully diluted market value of
Angion Biomedica, which was founded in 1998 and booked $6 million in grant revenue for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol ANGN. Angion Biomedica initially filed confidentially on March 4, 2014. Aegis Capital is the sole bookrunner on the deal.