Dr. Howard Berman, the founder of Coya, will
transition to Executive Chair of the Board effective November 1st,
2024
Dr. Arun Swaminathan is appointed to the Board
of Directors effective immediately
Coya Therapeutics, Inc. (NASDAQ: COYA) (“Coya” or the
“Company”), a clinical-stage biotechnology company developing
biologics intended to enhance regulatory T cell (Treg) function,
today announced that Arun Swaminathan Ph.D. has been promoted to
the role of Chief Executive Officer effective November 1, 2024. He
will succeed Dr. Howard Berman who will continue to serve in the
capacity of Executive Chair.
As we look forward to and prepare for the release of Alzheimer's
data at the upcoming CTAD24 conference on October 29, 2024 in
Madrid and continue to progress COYA 302 in ALS, the company will
benefit from leveraging Dr. Swaminathan’s strategic, business
development, operational, and deal making experience to guide Coya
through its next phase in the company’s growth. Over the last 5
years across multiple companies, Dr. Swaminathan was instrumental
in executing several company significant commercial transactions in
excess of $6 billion, including Coya’s recent Dr. Reddy’s
Laboratory licensing transaction of up to $700 million.
Coya also believes it will benefit from Dr. Swaminathan’s
leadership in advancing COYA 302 in related programs such as
Frontotemporal Dementia (FTD), Parkinson's Disease (PD), and other
immune mediated diseases.
Howard Berman, Ph.D., commented, “Coya has grown quickly to a
clinical stage company and is poised, in partnership with Dr.
Reddy’s Laboratories, to potentially bring these therapies to
patients who desperately need them. We believe Arun has an
incredible skillset to execute on each of these milestones. He has
been a foundational member of this team, instrumental in
consummating our up to $700 million licensing transaction with Dr.
Reddy’s Laboratories. At this stage of our evolution, I can think
of no one better skilled and dedicated to take us to the next
level, to progress our assets forward in the clinic and execute new
business deals, all of which we believe will create value for our
shareholders.”
Prior to joining Coya as our Chief Business Officer, a role he
has served in since April 2023, Dr. Swaminathan executed
significant commercial transactions at Alteogen Inc. and Actinium
Pharmaceuticals. He also was the founder and CEO of Lynkogen, Inc.,
a company developing GLP-1 fusion proteins. He began his career in
clinical pharmacology and development and commercial roles of
increasing responsibility at Bristol Myers Squibb and Covance and
obtained his Ph.D. in pharmaceutical sciences from the University
of Pittsburgh.
Dr. Swaminathan added, “I’m excited and grateful for the
confidence Howard and our board of directors have placed in me. I
look forward to expanding our existing partnerships and continuing
to leverage my long-standing relationships and knowledge of the
industry on behalf of the company and its shareholders, building
atop the strong foundation we’ve together created over the last
year. It is my mandate to bring our assets to patients as quickly
as possible.”
About Coya Therapeutics, Inc.
Headquartered in Houston, TX, Coya Therapeutics, Inc. (Nasdaq:
COYA) is a clinical-stage biotechnology company developing
proprietary treatments focused on the biology and potential
therapeutic advantages of regulatory T cells (“Tregs”) to target
systemic inflammation and neuroinflammation. Dysfunctional Tregs
underlie numerous conditions, including neurodegenerative,
metabolic, and autoimmune diseases, and this cellular dysfunction
may lead to sustained inflammation and oxidative stress resulting
in lack of homeostasis of the immune system.
Coya’s investigational product candidate pipeline leverages
multiple therapeutic modalities aimed at restoring the
anti-inflammatory and immunomodulatory functions of Tregs. Coya’s
therapeutic platforms include Treg-enhancing biologics,
Treg-derived exosomes, and autologous Treg cell therapy.
COYA 302 – the Company’s lead biologic investigational product
or “Pipeline in a Product”– is a proprietary combination of COYA
301 (Coya’s proprietary LD IL-2) and CTLA4-Ig for subcutaneous
administration with a unique dual mechanism of action that is now
being developed for the treatment of Amyotrophic Lateral Sclerosis,
Frontotemporal Dementia, Parkinson’s Disease, and Alzheimer’s
Disease. Its multi-targeted approach enhances the number and
anti-inflammatory function of Tregs and simultaneously lowers the
expression of activated microglia and the secretion of
pro-inflammatory mediators. This synergistic mechanism may lead to
the re-establishment of immune balance and amelioration of
inflammation in a sustained and durable manner that may not be
achieved by either low-dose IL-2 or CTLA4-Ig alone.
For more information about Coya, please visit
www.coyatherapeutics.com
Forward-Looking Statements
This press release contains “forward-looking” statements that
are based on our management’s beliefs and assumptions and on
information currently available to management. Forward-looking
statements include all statements other than statements of
historical fact contained in this presentation, including
information concerning our current and future financial
performance, business plans and objectives, current and future
clinical and preclinical development activities, timing and success
of our ongoing and planned clinical trials and related data, the
timing of announcements, updates and results of our clinical trials
and related data, our ability to obtain and maintain regulatory
approval, the potential therapeutic benefits and economic value of
our product candidates, competitive position, industry environment
and potential market opportunities. The words “believe,” “may,”
“will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,”
and similar expressions are intended to identify forward-looking
statements.
Forward-looking statements are subject to known and unknown
risks, uncertainties, assumptions and other factors including, but
not limited to, those related to risks associated with the impact
of COVID-19; the success, cost and timing of our product candidate
development activities and ongoing and planned clinical trials; our
plans to develop and commercialize targeted therapeutics; the
progress of patient enrollment and dosing in our preclinical or
clinical trials; the ability of our product candidates to achieve
applicable endpoints in the clinical trials; the safety profile of
our product candidates; the potential for data from our clinical
trials to support a marketing application, as well as the timing of
these events; our ability to obtain funding for our operations;
development and commercialization of our product candidates; the
timing of and our ability to obtain and maintain regulatory
approvals; the rate and degree of market acceptance and clinical
utility of our product candidates; the size and growth potential of
the markets for our product candidates, and our ability to serve
those markets; our commercialization, marketing and manufacturing
capabilities and strategy; future agreements with third parties in
connection with the commercialization of our product candidates;
our expectations regarding our ability to obtain and maintain
intellectual property protection; our dependence on third party
manufacturers; the success of competing therapies or products that
are or may become available; our ability to attract and retain key
scientific or management personnel; our ability to identify
additional product candidates with significant commercial potential
consistent with our commercial objectives; and our estimates
regarding expenses, future revenue, capital requirements and needs
for additional financing.
We have based these forward-looking statements largely on our
current expectations and projections about future events and trends
that we believe may affect our financial condition, results of
operations, business strategy, short-term and long-term business
operations and objectives, and financial needs. Moreover, we
operate in a very competitive and rapidly changing environment, and
new risks may emerge from time to time. It is not possible for our
management to predict all risks, nor can we assess the impact of
all factors on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements
we may make. In light of these risks, uncertainties and
assumptions, the forward-looking events and circumstances discussed
herein may not occur and actual results could differ materially and
adversely from those anticipated or implied in the forward-looking
statements. Although our management believes that the expectations
reflected in our forward-looking statements are reasonable, we
cannot guarantee that the future results, levels of activity,
performance or events and circumstances described in the
forward-looking statements will be achieved or occur. We undertake
no obligation to publicly update any forward-looking statements,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240819169514/en/
Investor David Snyder, CFO
david@coyatherapeutics.com
CORE IR Bret Shapiro brets@coreir.com 561-479-8566
Media For Coya Therapeutics:
Kati Waldenburg media@coyatherapeutics.com 212-655-0924
Grafico Azioni Coya Therapeutics (NASDAQ:COYA)
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