Coya Therapeutics: ADDF To Support Clinical Development Of COYA 302 Through Equity Investment

(RTTNews) - Coya Therapeutics, Inc. (COYA) announced that the Alzheimer's Drug Discovery Foundation has purchased 603,136 shares of the company's common stock at a purchase price of $8.29 per share for an aggregate investment of $5 million. The ADDF's mission is to rapidly accelerate the development of drugs to prevent, and treat Alzheimer's disease and related dementias, including FTD.

Coya's lead therapeutic candidate, COYA 302, is being evaluated in multiple neurodegenerative diseases, including FTD. The company plans for this equity investment to help fund the development of COYA 302 in a planned Phase 2 trial in FTD.

Shares of Coya Therapeutics are up 6% in pre-market trade on Monday.

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