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Coya Therapeutics raises USD 5 million in private placement for Phase II clinical trials of lead candidate COYA 302
Precision Medicine
May 20, 2024
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Precision Medicine

Precision Medicine

May 20, 2024

Coya Therapeutics raises USD 5 million in private placement for Phase II clinical trials of lead candidate COYA 302

Funding

  • Coya Therapeutics has secured USD 5 million via private placement from The Alzheimer's Drug Discovery Foundation (ADDF) through the sale of 603,136 common shares of the company at USD 8.29 per share.

  • The proceeds are expected to be used for the Phase II clinical trials of Coya's lead therapeutic candidate, COYA 302, which is currently being evaluated for multiple neurodegenerative diseases, including frontotemporal dementia (FTD). 

  • Coya Therapeutics is a clinical-stage biotechnology company focused on developing treatments based on regulatory T cells (Tregs), targeting neurodegenerative, autoimmune, and metabolic diseases. The company's pipeline includes multiple Tregs-based programs, including its lead candidate COYA 302, which combines COYA 301 (a low-dose IL-2) with CTLA4-Ig to enhance Treg function and reduce pro-inflammatory mediators, targeting conditions such as amyotrophic lateral sclerosis, frontotemporal dementia, Parkinson's disease, and Alzheimer's disease​.

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