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Organ recovery biotech Angion Biomedica sets terms for $30 million IPO

By: Renaissance Capital
Posted: 5/23/2014 8:10:00 PM
Referenced Stocks: ANGN

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 $76 million.

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.