Coya Therapeutics, Dr. Reddy's Laboratories Join For Development, Commercialization Of COYA 302

(RTTNews) - Dr. Reddy's Laboratories SA, subsidiary of Dr. Reddy's Laboratories Ltd. (RDY), and Coya Therapeutics, Inc. (COYA) have entered into a development and license agreement for the development and commercialization of COYA 302, an investigational combination therapy for the treatment of Amyotrophic Lateral Sclerosis.

Coya has granted Dr. Reddy's an exclusive license to commercialize COYA 302 in the United States, Canada, the European Union and the United Kingdom for ALS. This is in addition to the in-licensing agreement with Dr. Reddy's signed in early 2023. Coya retains the right to commercialize COYA 302 for patients with amyotrophic lateral sclerosis in Japan, Mexico, and each country in South America.

Dr. Reddy's will make a $7.5 million upfront payment to Coya. Upon the first FDA acceptance of an IND application, Dr. Reddy's will pay Coya an additional $4.2 million. Upon dosing of the first patient in the first Phase 2 trial, Dr. Reddy's will pay Coya an additional $4.2 million. Coya expects that the IND filing will be made in the first half of 2024.

The deal also includes development and regulatory milestones up to $40 million. Additionally, Coya is eligible to receive sales-based milestone payments of up to $677.25 million. Dr. Reddy's will pay Coya royalties based on a percentage net sales of COYA 302 ranging from low to middle teens.

For More Such Health News, visit rttnews.com.