Korro Bio Completes $116M Series B Financing to Expand the Frontier of Genetic Medicine Through Its Pipeline of RNA Editing Programs
- Financing led by Eventide Asset Management with participation from a strong syndicate of new and existing investors
- Funding will advance Korro’s proprietary editing platform that co-opts endogenous human RNA editing system
- Advancing a novel class of RNA editing drug candidates for rare and prevalent diseases including its lead candidate for Alpha-1 Antitrypsin Deficiency (AATD)
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Korro Bio., a leading RNA editing company focused on the discovery and development of novel genetic medicines, today announced the completion of a $116M Series B financing. This financing will enable Korro to advance its lead program in development for patients with Alpha-1 Antitrypsin Deficiency (AATD), an inherited genetic disorder leading to liver and lung disease, while expanding its pipeline to address prevalent diseases across multiple therapeutic areas.
The financing was led by Eventide Asset Management, with participation from new investors Fidelity Management & Research Company LLC, Invus, Point72, Verition Fund Management, Monashee Investment Management, Sixty Degree Capital and an additional healthcare specialist fund. All existing investors participated in the financing, including Atlas Venture, NEA, Wu Capital, Qiming Venture Partners USA, Surveyor Capital (a Citadel company), Cormorant Asset Management, MP Healthcare Venture Management and Alexandria Venture Investments. In conjunction with the financing, Joy Ghosh, Ph.D. of Eventide Asset Management and Alex Silverstein of Point72 will join the Company’s Board of Directors.
“Our proprietary RNA editing platform redirects endogenous human editing, ADAR, with the ability to change a single base on RNA with high specificity and efficiency. The elegance of the approach is in its simplicity and enables us to not only repair mutations that cause genetically inherited diseases but also to modulate select proteins with high specificity in prevalent diseases,” said Ram Aiyar, Ph.D., Chief Executive Officer and President of Korro Bio. “The Series B financing has expanded our strong syndicate of investors enabling us to execute on our vision of advancing our pipeline of novel gene editing candidates to the clinic for patients suffering from a broad spectrum of diseases.”
“Rooted in a strong understanding of ADAR biology, chemistry and machine learning, Korro’s RNA editing platform has enormous potential to help patients suffering from debilitating diseases previously untreatable with genetic medicine,” said Joy Ghosh, Ph.D., Senior Research Analyst, Eventide Asset Management. “Korro is uniquely positioned as a leader in RNA editing and we are excited to be a part of this journey. We look forward to continuing to support the Company as it further advances RNA editing technology and its pipeline.”
About Korro Bio, Inc.
Korro is an RNA editing company focused on discovery and development of a new class of precision genetic medicines. Korro’s proprietary and modular platform, OPERATM, combines data-driven design with off-the-shelf chemistry and delivery to achieve highly selective RNA editing. This unique technology enables the functional benefits of gene therapy with a transient, repeated-administration regimen that permits pharmacologic titration of therapeutic efficacy and safety, in a cost-effective drug product. As a result, Korro’s portfolio of innovative RNA therapies have the potential to propel genetic medicine beyond rare genetic diseases into larger patient populations with common diseases. Korro is located in Cambridge, Mass. For more information, visit korrobio.com.
Source: Korro Bio, Inc.