Elicio Therapeutics Secures New Talent with Inducement Awards
BOSTON, April 16, 2025 (GLOBE NEWSWIRE) -- Elicio Therapeutics, Inc. (Nasdaq: ELTX), a pioneering clinical-stage biotechnology company dedicated to developing innovative immunotherapies aimed at combating cancer, has made a significant announcement regarding the expansion of its executive team. On April 15, 2025, Elicio disclosed that it granted inducement awards to its newly appointed Chief Strategy and Financial Officer, Preetam Shah, along with two additional new employees. This decision was made as a strategic move to encourage and facilitate their engagement with the company, in compliance with Nasdaq Listing Rule 5635(c)(4). The inducement awards received the green light from the compensation committee of Elicio's board of directors, adhering to the parameters set forth in the Elicio 2024 Inducement Incentive Award Plan.
The inducement award for Dr. Shah is substantial, including the issuance of 191,624 stock options, which reflects both the companys commitment to attracting top talent and its confidence in Dr. Shahs ability to drive strategic financial initiatives. Meanwhile, the two new employees have received a combined total of 21,000 stock options. Each of these grants enables the purchase of shares of Elicio common stock at a price of $4.98 per share, a figure that aligns with the closing price reported by Nasdaq on the date of the grant, April 15, 2025.
These stock options are not merely a one-time benefit; they are structured to vest over a period of four years. Specifically, 25 percent of the shares will vest on the first anniversary of Dr. Shahs and the other employees' respective start dates, with the remaining shares vesting incrementally at the end of each month thereafter. This vesting schedule is designed to ensure that employees maintain their connection to Elicio through continued service, aligning their interests with the long-term success of the company.
Founded with the mission to revolutionize cancer treatment, Elicio Therapeutics, Inc. (Nasdaq: ELTX) is at the forefront of the biotechnology sector, working to develop cutting-edge immunotherapies for a variety of cancers that affect a significant portion of the population, including mKRAS-positive pancreatic and colorectal cancers. The company aims to capitalize on its recent advancements in the personalized cancer vaccine landscape to craft effective, ready-to-use vaccines that can be easily administered to patients.
Elicio's innovative Amphiphile (AMP) technology is particularly noteworthy; it seeks to enhance the education, activation, and amplification of cancer-specific T cells compared to traditional vaccination methods. The ultimate goal of this technology is to foster durable cancer immunosurveillance, which can significantly improve patient outcomes. Among Elicio's leading initiatives is the ELI-002 program, an off-the-shelf vaccine candidate that targets prevalent KRAS mutations, responsible for approximately 25% of all solid tumors. Currently, ELI-002 is undergoing an extensive randomized clinical trial focused on patients with mKRAS-positive pancreatic cancer who have completed standard therapy yet remain at an elevated risk of relapse.
Additionally, Elicios pipeline presents further promise with other off-the-shelf therapeutic cancer vaccines, including ELI-007 and ELI-008, which aim to target cancers driven by BRAF mutations and p53 hotspot mutations, respectively. For those interested in further details about Elicios groundbreaking work, more information is available at
Mei-Ling Chen
