--- title: "Elicio Therapeutics takes $10 million secured loan from investor GKCC" url: "https://aibio.space/news/elicio-therapeutics-takes-10-million-secured-loan-investor-gkcc/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-06-04" section: "Debt Financing" tickers: "NASDAQ:ELTX" source: "https://www.sec.gov/Archives/edgar/data/1601485/000160148525000096/a991eliciodebttransactio.htm" summary: "The note carries interest of up to 12.5% and matures on June 3, 2028. Elicio expects the cash to fund operations into the first quarter of 2026." --- By the aibio.space news desk. Sources - [Elicio Therapeutics, Inc. 8-K (2025-06-04)](https://www.sec.gov/Archives/edgar/data/1601485/000160148525000096/a991eliciodebttransactio.htm) - [Elicio Therapeutics, Inc. 10-K (2025-03-31): business](https://www.sec.gov/Archives/edgar/data/1601485/000160148525000049/angn-20241231.htm) [ELTX](https://aibio.space/companies/elicio-therapeutics/) 2025-06-04 # Elicio Therapeutics takes $10 million secured loan from investor GKCC Tickers [ELTX](https://aibio.space/companies/elicio-therapeutics/) The note carries interest of up to 12.5% and matures on June 3, 2028. Elicio expects the cash to fund operations into the first quarter of 2026. ## Key facts - **Company**: Elicio Therapeutics, Inc. (NASDAQ: ELTX) - **News type**: Debt Financing - **Primary source**: [Elicio Therapeutics, Inc. 8-K (2025-06-04)](https://www.sec.gov/Archives/edgar/data/1601485/000160148525000096/a991eliciodebttransactio.htm) *Office towers against a dusk sky. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The note and its terms Elicio Therapeutics, Inc. (Nasdaq: [ELTX](https://aibio.space/companies/elicio-therapeutics/)) said on June 4, 2025 that it had entered into a $10 million senior secured promissory note with GKCC, LLC, an existing investor. The note is senior and secured, and Elicio says it received gross proceeds of $10 million. It bears interest of up to 12.5% and matures on June 3, 2028. The note has a 24-month interest-only period. Interest that accrues during the first 12 months is payable as a lump sum beginning in the thirteenth month after closing. That defers a cash payment rather than removing it, and the release does not say how the company plans to pay it. In connection with the note, Elicio issued GKCC warrants to buy an aggregate of 103,225 shares of common stock at $7.75 per share. The warrants are immediately exercisable and expire five years from issuance. If exercised, they dilute existing holders. The release names GKCC as the note holder. It names no placement agent, financial adviser or legal counsel, and the only other firm named is LifeSci Advisors, as the source of an investor relations contact. ## The runway and the interim readout Elicio says the proceeds, together with current cash and cash equivalents, are expected to support operations into the first quarter of 2026. That period runs beyond the AMPLIFY-7P Phase 2 interim analysis, which the company expects in the third quarter of 2025. The release gives no cash balance at the time of the announcement, so the runway claim cannot be checked against a figure in the release. The annual report for 2024, filed March 31, 2025, describes that interim analysis as disease-free survival event-driven and says it is expected in the third quarter of 2025, depending on the rate of event accrual. The trial compares events, meaning cancer detected on an imaging scan or death, in the AMPLIFY-7P group against an observation group once a pre-specified total number of events has been observed. The timing therefore depends on how quickly events occur, not only on the calendar. Chief Executive Officer Robert Connelly said the transaction strengthens the balance sheet and extends the runway. He also said the financing gives the company flexibility for near-term corporate and business development initiatives. The release does not describe those initiatives. ## What the data show and what they do not The lead product, ELI-002, is an off-the-shelf cancer vaccine that targets KRAS mutations. The randomized Phase 2 trial, AMPLIFY-7P, tests the seven-peptide formulation in pancreatic ductal adenocarcinoma. The annual report says enrollment was completed in December 2024, and that patients will be followed for up to 36 months. The release points to Phase 1 data for the earlier study, AMPLIFY-201, presented at the ESMO Immuno-Oncology Congress 2024. It reports a 16.3-month median recurrence-free survival and a 28.9-month median overall survival for the full study population. Those figures come from the two-peptide formulation, which the release says was studied in Phase 1, not the seven-peptide formulation in the Phase 2 trial. The release does not give the size of that population, and it does not say whether the study had a control group. The annual report calls the Phase 1 safety, immunogenicity and efficacy data preliminary, while describing them as encouraging in pancreatic and colorectal cancer patients. Preliminary Phase 1 results do not establish efficacy for a randomized trial that has not yet read out. Chief Executive Officer Robert Connelly calls the PDAC readout a critical validating opportunity for the AMP platform. The pipeline behind ELI-002 is early. The annual report describes ELI-007 and ELI-008 as preclinical programs funded in part by grants. The release describes the Amphiphile platform as aiming to enhance T cell responses relative to conventional vaccination, but it presents that as the company's own goal, not as a demonstrated advantage. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story ELTX Elicio Therapeutics, Inc. 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Cite as: aibio.space, "Elicio Therapeutics takes $10 million secured loan from investor GKCC", 2025-06-04, https://aibio.space/news/elicio-therapeutics-takes-10-million-secured-loan-investor-gkcc/