Coya Therapeutics is a clinical-stage biotech focused on restoring regulatory T cell (Treg) function to treat neurodegenerative diseases. Tregs suppress inflammatory responses, and Coya's thesis is that Treg dysfunction drives disease progression in conditions like ALS, frontotemporal dementia (FTD), Alzheimer's disease (AD), and Parkinson's disease (PD). Coya has no products on the market and generates no product revenue. Its lead asset is COYA 302, a combination of low-dose IL-2 and CTLA4-Ig designed to expand Tregs while suppressing pro-inflammatory immune cells. COYA 302 is currently in a Phase 2 trial in ALS (ALSTARS), with enrollment expected to complete in the second half of 2026, and a Phase 2 study in FTD is planned following FDA IND acceptance in January 2026. Coya has partnered with Dr. Reddy's Laboratories, granting it exclusive commercialization rights for COYA 302 in ALS across most major markets. The deal included a $7.5M upfront payment and potential development and sales milestones, plus royalties on net sales. Coya retains rights to COYA 302 in indications beyond ALS and plans to pursue partnerships or grants to fund AD and PD development. Earlier-stage pipeline assets include Treg-derived exosome candidates (COYA 201 and COYA 206), still in preclinical development. Coya is a lean operation with eight full-time employees, relying on CROs, academic partners, and Dr. Reddy's to execute its programs.