Coya partners with Dr. Reddy's on COYA 302 for ALS; raises $26.5M in private placement

Coya Therapeutics, Inc.

Upfront $7.5M from Dr. Reddy's; additional $4.2M upon IND acceptance and $4.2M upon first patient in Phase 2.
Potential development milestones up to $40M and sales milestones up to $677.25M; royalties in low to mid-teens.
Private placement of 4.37M shares at $6.06/share for gross proceeds ~$26.5M; expected to close Dec 11, 2023.
Former US Secretary Wilbur Ross participating in placement; expected to join board after closing.
COYA to lead clinical development and US regulatory for COYA 302; IND filing expected in H1 2024.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Coya Therapeutics, Inc. entered into DRL Development Agreement with Dr. Reddy’s Laboratories Ltd. and its affiliate, Dr. Reddy’s Laboratories SA (effective 2023-12-05).

Action: entry
Agreement: license
Counterparty: Dr. Reddy’s Laboratories Ltd. and its affiliate, Dr. Reddy’s Laboratories SA
Effective: 2023-12-05

Exact text from the filing

On December 5, 2023, Coya Therapeutics, Inc. (the “Company”) entered into a Development and License Agreement (the “DRL Development Agreement”) with Dr. Reddy’s Laboratories Ltd. and its affiliate, Dr. Reddy’s Laboratories SA (collectively, “Dr. Reddy’s”), pursuant to which, among other things, the Company granted to Dr. Reddy’s an exclusive license to commercialize COYA 302

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Coya Therapeutics, Inc. entered into Securities Purchase Agreement with certain accredited investors valued at approximately $26.5 million (effective 2023-12-05).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: approximately $26.5 million
Effective: 2023-12-05

Exact text from the filing

On December 5, 2023, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with certain accredited investors (collectively, the “Purchasers”) for the issuance and sale in a private placement (the “Private Placement”) of 4,370,382 shares

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Coya Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-289550

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