Coya Therapeutics, a Phase 2 biotech developing regulatory T-cell therapies for various indications, raised $15 million by offering 3.1 million units at $5. Each unit consists of one share of common stock and one warrant to purchase one-half of a share, exercisable at $7.50.
Because the offering contained warrants, Coya Therapeutics will be excluded from Renaissance Capital's 2022 IPO stats.
The company is developing numerous Treg-based therapies focused on neurodegenerative, autoimmune, and metabolic diseases. Coya Therapeutics' sole clinical-stage candidate, COYA 101, is an autologous cell therapy for the treatment of ALS. COYA 101 completed a Phase 2a clinical trial in May 2021, and the company plans to begin a Phase 2b trial in 2024.
Coya Therapeutics plans to list on the Nasdaq under the symbol COYA. Chardan Capital Markets and Newbridge Securities acted as joint bookrunners on the deal.
