Business
Coya Therapeutics, Inc. Provides Business Update and Reports Q1 2023 Unaudited Financial Results
HOUSTON--(BUSINESS WIRE)-- Coya Therapeutics, Inc. (Nasdaq: COYA) (“Coya” or the “Company”), a clinical-stage biotechnology company developing biologics and
About this update from Coya Therapeutics, Inc.
[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nCoya Therapeutics, Inc. (Nasdaq: COYA) (“Coya” or the “Company”), a clinical-stage biotechnology company developing biologics and cell therapies intended to enhance the function of Regulatory T Cells (Tregs), today announced its financial results for the first quarter ended March 31, 2023, and provided a clinical and business update.\n\n\nQ1 2023 and Recent Highlights (Unaudited)\n\n\n\nAnnounced positive results from a proof-of-concept, open-label academic clinical study of COYA 302 in Amyotrophic Lateral Sclerosis (ALS) illustrating halting of disease progression at 24 weeks with minimal decline at 48 weeks. Study data were presented at the 2023 Muscle Dystrophy Association Conference;\n\n\n\nAnnounced the presentation of results from an academic clinical study in eight patients with mild to moderate Alzheimer’s Disease (AD) with Coya’s COYA 301, its proprietary investigational biologic, evaluating its safety and tolerability, biological activity, blood biomarkers and preliminary efficacy. The presentation will be made at the 2023 Keystone Symposia Neurodegeneration: Biology Guiding the Next Generation of Therapeutic Development, to be held at Whistler, British Columbia, Canada, from May 15-19th, 2023;\n\n\n\nAppointed Arun Swaminathan, Ph.D. as Chief Business Officer, who negotiated significant licensing transactions with two top-ten global pharmaceutical companies while at Alteogen, Inc.;\n\n\n\nEntered into a worldwide agreement with Dr. Reddy’s Laboratories Limited. (Dr. Reddy’s)(NYSE: RDY), whereby Coya in-licensed Dr. Reddy’s proposed Abatacept biosimilar, for the development of COYA 302 the Company’s combination product candidate for the treatment of certain neurodegenerative diseases, and out-licensed to Dr. Reddy’s, COYA 301, the Company’s low dose Interleukin 2 (IL-2) product candidate to permit the commercialization by Dr. Reddy’s of COYA 302 in territories not otherwise granted to Coya;\n\n\n\nExpanded its exclusive worldwide licensing agreement with ARScience Biotherapeutics for the development and commercialization of COYA 301;\n\n\n\nReported preclinical data in an animal model of Alzheimer’s disease supporting the role of expanded Regulatory T Cells (Tregs) as a target for development of potential disease modifying treatments for this form of dementia;\n\n\n\nClosed an Initial Publi...