Coya Therapeutics raises $11.1 million in private placement

Coya Therapeutics Inc. (NASDAQ: COYA) announced it has entered into a securities purchase agreement for a $11.1 million private placement. The biotechnology company will sell 2,522,727 shares of common stock at $4.40 per share.

Dr. Reddy's Laboratories Inc., a subsidiary of Coya's strategic collaborator, invested $10 million in the offering. Greenlight Capital, described as the company's largest institutional shareholder, contributed $1.1 million.

The transaction is expected to close on or about January 30, 2026, subject to customary closing conditions. No broker, placement agent or investment banker was engaged in the transaction.

Coya stated it intends to use the net proceeds to accelerate technology transfer and scale-up manufacturing activities for low dose IL-2 to support commercial readiness of COYA 302, its investigational treatment for neurodegenerative disorders.

COYA 302 is a combination therapy comprising low dose interleukin-2 and CTLA-4 Ig, designed to enhance regulatory T cell function and suppress inflammation. The company is conducting the ALSTARS Trial, a Phase 2 study evaluating the treatment for ALS patients.

The securities are being offered under Section 4(a)(2) of the Securities Act of 1933 and have not been registered. Coya agreed to file a registration statement with the Securities and Exchange Commission covering resale of the securities within 45 days of closing.

The Houston-based company focuses on developing treatments that target regulatory T cells to address systemic inflammation and neuroinflammation in neurodegenerative, metabolic and autoimmune diseases.

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