Angion swings for a $36M IPO as biotech's bear turn drags on

Uniondale, NY's Angion Biomedica is eyeing a $36 million IPO to bankroll its pipeline of treatments for organ injury, hoping to buck an alarming trend for biotech stocks and trade on the Nasdaq under "ANGN." The company's lead prospect, BB3, is a mid-stage small-molecule treatment that activates the body's natural organ repair mechanisms, and Angion plans to spend most of its IPO haul developing the drug for complications in kidney transplants, heart attacks and acute kidney injuries. Meanwhile, an increasingly tough market for biotechs on Wall Street has trickled down to the IPO scene over the last few weeks, forcing Lombard Medical to abandon its $60 million float and Cerulean Pharma ($CERU) to price well below its expected range. Filing