مِن عَلَقٍ

مِن عَلَقٍ is a phrase (شِبْهُ الجُمْلَةِ), a compound consisting of a particle of pulling down (preposition) and a genitive noun

PhraseParticle/NounNoun Particle 
شِبْهُ الجُمْلَةِجَارٌ وَمَجْرُوْرٌاسْمٌ مَجْرُوْرٌحَرْفُ جَرٍّ
PhraseCompoundGenitive NounParticle of pulling down
  
from a clotمِن عَلَقٍ=عَلَقٍ+مِن
from a clota clotfrom
Surah/Below is the only verse in the holy Quran containing the compoundمِن عَلَقٍ
Verse
  
96-2He created man from a clotخَلَقَ الإِنْسَانَ مِن عَلَقٍ