Lowenstein Sandler represented Coya Therapeutics, Inc. (Nasdaq: COYA), a clinical-stage biotechnology company developing proprietary therapies to enhance the function of regulatory T cells, in the closing of its initial public offering of 3,050,000 shares of its common stock, and accompanying warrants to purchase up to 1,525,000 shares of common stock, for gross proceeds of approximately $15.25 million.

In addition, Coya has granted the underwriters a 30-day option to purchase up to an additional 290,000 shares of common stock and/or warrants to purchase 145,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount.

The shares of common stock began trading on the Nasdaq Capital Market on December 29, 2022, under the symbol “COYA.”  The warrants are not listed on any securities exchange or other nationally recognized trading system.

Coya intends to use substantially all of the net proceeds from the offering to advance its programs in preclinical studies into clinical trials, to advance its discovery and candidate selection stage programs, and for general corporate purposes.

The Lowenstein deal team included Michael J. Lerner, Steven M. Skolnick, Daniel C. Porco, Andrew E. Graw, James C. Shehan, Park S. Bramhall, Irina Ishak, Kelsey Repka, and Vincent T. Scala.