Coya Therapeutics expands COYA 302 into Alzheimer’s disease
Shares of US clinical-stage biotech Coya Therapeutics (Nasdaq: COYA) leapt almost 10% to $8.82 in morning trading, after releasing a letter to stockholders from its chief executive and chairman, Dr Howard Berman.
Dr Berman noted that Just over two months ago Coya announced a partnership with Dr Reddy’s Laboratories for COYA 302 in amyotrophic lateral sclerosis (ALS), the lead indication for its all-important candidate.
This pivotal collaboration is worth up to $733 million ($677.25 million in non-dilutive sales and milestone payments, $40 million in development and regulatory milestones, and two tranche payments) plus low-to-mid teens product royalties to us. Coya has already received $7.5 million as an upfront payment tranche from that transaction and expect to receive an additional $8.4 million tranche in 2024 following the investigational new drug (IND) filing and first patient dosed in the Phase II ALS trial.
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