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.
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