getting ahead

Houston biotech startup announces merger and $10M series A

A biotech startup focused on developing therapeutics for neurodegenerative and autoimmune diseases has some big news to share. Photo via Getty Images

A Houston company has emerged from stealth mode to announce a merger and a round of financing.

Coya Therapeutics, a clinical-stage biotech startup that focuses on creating therapeutics for neurodegenerative and autoimmune diseases, announced that it has completed a merger with Nicoya Health Inc. and raised $10 million in its series A. The round was led by Florida-based Allele Capital Partners LLC. Howard Berman, founder and board of directors for imaware, has been named CEO of Coya, as well as a member of the company's board of directors.

Coya's therapeutics uses innovative work from Dr. Stanley H. Appel, co-director of Houston Methodist Neurological Institute and Chair of the Stanley H. Appel Department of Neurology at Houston Methodist Hospital. The researcher has created a way to "isolate dysfunctional Tregs from a patient, convert them to a highly functional and neuroprotective condition, and expand these cells into the billions for intravenous reinfusion back to the patient," says Berman in a news release. This revolutionary work overcomes previous limitations in the field.

"I'm excited to have the opportunity to lead Coya at such an exciting and pivotal phase of growth," Berman says. "Through our sponsored research program in conjunction with Dr. Appel, we look forward to continuing advancement of this promising work and translating this work into a meaningful therapy for patients."

The company's fresh funds will be used to continue work on the company's lead therapeutic program, ALS001, an autologous, expanded Treg cell therapy for amyotrophic lateral sclerosis (ALS) patients , as well as to introduce clinical pipeline candidates targeting Parkinson's disease, Alzheimer's disease, frontal temporal dementia, and more, according to the release.

"Patients with neurodegenerative diseases are in desperate need of transformative therapeutic options; harnessing the neuro-protective effects of Treg cell therapy shows great potential in unlocking a new treatment paradigm and may enable us to revolutionize care for patients with devastating neurodegenerative diseases," says Appel. "We have successfully demonstrated, in a phase 1 trial, the safety and tolerability of autologous infusions of expanded Tregs in ALS patients, with the potential of slowing or halting disease progression. Ongoing studies provide a transformative framework for advanced clinical trials in ALS and other neurodegenerative disorders."

Tribal Capital Markets LLC acted as sole placement agent for the offering, according to the release, and Allele Capital Partners — through Tribal Capital Markets — was responsible for sourcing, investing and executing the $10 million offering.

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Building Houston

 
 

Capital Factory's Houston HQ will be in The Ion. Photo courtesy of The Ion

A company that supports entrepreneurship and startups across the Lone Star State with mentorship and funding has announced its new homebase in Houston.

Capital Factory has revealed a new programming partnership with The Ion. Through the collaboration, Capital Factory will host programming, events, and resources within the innovation hub to grow, educate, and support Houston-based startups and entrepreneurs.

"Capital Factory's presence at The Ion will further expand the opportunities for startups and innovators in the Houston region, while strengthening an important pillar of the Texas Startup Manifesto," says Joshua Baer, founder and CEO of Capital Factory, in a news release.

Capital Factory was founded in Austin in 2009 and boosts on being the most active investor in Texas, deploying smaller investments to a multitude of early-stage startups. According to Crunchbase's data, the entity has invested in over 160 companies with 20 exits. Capital Factory officially entered the Houston market in 2019 and doubled down its presence last year when it merged with Station Houston.

Now, with its Houston headquarters moving into The Ion, the two innovation partners will take an inclusive approach to creating connections between innovators, mentors, investors, and markets, per the release.

"We are thrilled to have Capital Factory as a programming partner at The Ion" says Jan E. Odegard, executive director of The Ion, in the release. "The Ion seeks to work with key partners and established brands to help build a rich and inclusive set of startup services that can support all innovators and startups wherever they are in their entrepreneurial journey. Capital Factory brings a proven track record for providing entrepreneurs with services and investments that brings great value not only to The Ion ecosystem, but also to the entire Houston innovation ecosystem."

Capital Factory's first event at The Ion will be Open Coffee on November 16th followed by Open Coworking all day, Baer adds in his statement.

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