Brief: Angion Biomedica - On July 20,, Angion Committed To And Commenced A Reduction In Force That Will Impact Majority Of Angion's Current 37 Employees

Elicio Therapeutics

25/07/2022 22:25

July 25 (Reuters) - Angion Biomedica Corp  ANGN.O :
    * ANGION BIOMEDICA - ON JULY 20,, ANGION COMMITTED TO AND
COMMENCED A REDUCTION IN FORCE THAT WILL IMPACT MAJORITY OF
ANGION'S CURRENT 37 EMPLOYEES
    * ANGION BIOMEDICA CORP - ANGION IS DISCONTINUING
DEVELOPMENT OF
ANG-3070 FOR ALL INDICATIONS
    * ANGION BIOMEDICA CORP - DISCONTINUING MOST OTHER
DEVELOPMENT
ACTIVITIES PENDING CONCLUSION OF STRATEGIC PROCESS
    * ANGION BIOMEDICA CORP - EXPECTS TO RECORD A CHARGE OF
ABOUT $2.9
MILLION IN Q3 TO IMPLEMENT REDUCTION IN FORCE, EXPECTED TO
CONCLUDE IN OCTOBER OF 2022
    * ANGION - DECISION TO ENGAGE IN REDUCTION RESULTS FROM CO'S
BOARD
DETERMINATION TO COMMENCE A PROCESS TO EXPLORE AND PURSUE
STRATEGIC OPTIONS

Source text: [ID: https://bit.ly/3PBwsXc]
Further company coverage:  ANGN.O 

 ((Reuters.Briefs@thomsonreuters.com;))