Coya Therapeutics Strikes Development, Commercialization Deal With Dr. Reddy's for ALS Drug
By Will Feuer
Coya Therapeutics said it has struck a development-and-license deal with Dr. Reddy's Laboratories for its COYA 302 drug, an investigational therapy for the treatment of Amyotrophic Lateral Sclerosis, or ALS.
Under the deal, Coya will be eligible for up to $677.3 million in sales-based milestone payments. Dr. Reddy's will also pay Coya sales royalties. Dr. Reddy's will make a $7.5 million upfront payment to Coya, and Coya could earn up to $40 million if the drug reaches certain development and regulatory milestones.
The agreement grants Dr. Reddy's an exclusive license to commercialize COYA 302 in the U.S., Canada, the European Union and the U.K. for ALS patients. Coya said the new deal is in addition to the in-licensing agreement with Dr. Reddy's that it signed earlier this year.
Coya will have responsibility for the clinical development of COYA 302 and for seeking regulatory approval for COYA 302 for patients with ALS in the U.S. Coya will retain the right to commercialize COYA 302 for ALS patients in Japan, Mexico and South America.
Trading in shares of Coya was halted ahead of the news.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
December 06, 2023 07:40 ET (12:40 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now