Coya Therapeutics, a Houston-based clinical-stage biotechnology company developing biologics designed to enhance regulatory T cell function in neurodegenerative disorders, said it has signed a definitive securities purchase agreement for an $11.1 million private placement of common stock.
The company plans to sell 2,522,727 shares at $4.40 per share, with the offering expected to close on or about January 30, 2026, subject to customary closing conditions. Dr. Reddy’s Laboratories, Inc., described as a subsidiary of Coya’s current strategic collaborator, is investing $10 million. Greenlight Capital, identified as Coya’s largest institutional shareholder, is investing $1.1 million and is the only other participant in the financing.
Coya said the gross proceeds are expected to be approximately $11.1 million before expenses, and that no broker, placement agent, or investment banker was engaged. The company intends to use net proceeds to accelerate tech transfer and scale up manufacturing activities for low-dose IL-2 to support commercial readiness for COYA 302.
The securities are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under federal or state securities laws. Coya said it has agreed to file a resale registration statement with the SEC no later than 45 days after the closing date and to seek effectiveness as promptly as possible, but in any event no later than 75 days after closing, subject to extensions under the purchase agreement.
Coya also provided updates on COYA 302, which it describes as an investigational proprietary biologic combination therapy comprising proprietary low-dose interleukin 2 and CTLA 4 Ig, intended for subcutaneous administration for ALS and other neurodegenerative diseases. The company said it is conducting the ALSTARS Trial, a Phase 2 randomized, multicenter, double-blind, placebo-controlled study evaluating efficacy and safety in ALS.
