Korro Bio, Inc., a Cambridge, Mass.-based RNA editing company focused on the discovery and development of novel genetic medicines, closed a $116M Series B financing.
The round 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 Korro’s Board of Directors.
This financing will enable the company 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.
Led by Ram Aiyar, Ph.D., Chief Executive Officer and President, Korro Bio is an RNA editing company focused on discovery and development of a new class of precision genetic medicines. Its proprietary and modular platform, OPERATM, combines data-driven design with off-the-shelf chemistry and delivery to achieve highly selective RNA editing. This 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.