Coya, Dr Reddy's collaborate for production of new drug

21 Mar 2023 , 10:07 AM

On Monday, biotechnology company Coya Therapeutics declared that it has secured a global deal with Dr Reddy’s Laboratories to acquire the rights to use Dr Reddy’s proposed Abatacept biosimilar for the production of COYA 302, a combination product designed to treat neurodegenerative disorders.

According to the agreement, Coya has received an exclusive, royalty-bearing license to sell Dr. Reddy’s proposed biosimilar Abatacept in several regions, including North and South America, Europe, the United Kingdom, and Japan. Coya will compensate Dr Reddy’s for the license by paying a one-time, non-refundable upfront fee.

Coya Therapeutics’ CEO, Howard H Berman, Ph.D., called the agreement with Dr Reddy’s a significant achievement for the company in the development of COYA 302. Berman stated that partnering with a top-notch pharmaceutical firm like Dr Reddy’s is the goal of every emerging biotech company. 

He believes that the combined resources of both companies will improve their chances of getting regulatory approval for the therapeutic modality, and ultimately bring relief to patients suffering from neurodegenerative diseases.

On March 16, Eris Lifesciences made public its plans to purchase nine dermatology brands from Dr Reddy’s Laboratories for Rs275 crore.

At around 10.03 AM, Dr Reddy’s was trading 0.60% higher at Rs4,466 per piece, against the previous close of Rs4,439.45 on NSE. The counter touched an intraday high and low of Rs4,480 and Rs4,421.60 respectively.

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