Korro Bio Raises $91.5 million Series A Financing to Advance its Novel RNA-Editing Platform

Sep 11, 2020 | Investor Watch, News

Korro Bio Raises $91.5 million Series A Financing to Advance its Novel RNA-Editing Platform

Korro Bio closed a $91.5 million Series A financing round, led by Wu Capital with participation from current investors, Atlas Venture and New Enterprise Associates. Additional new investors include Qiming Venture Partners USA, Surveyor Capital (a Citadel company), Cormorant Asset Management, MP Healthcare Venture Management and Alexandria Venture Investments. The funding will be used to advance Korro Bio’s novel platform for precise, single-base, RNA editing to modulate protein function for therapeutic applications. This financing will also enable the company to advance its lead program to IND filing and establish a broad portfolio of innovative RNA editing therapies.

Korro’s proprietary platform, OPERA (Oligonucleotide Promoted Editing of RNA), harnesses the body’s natural base editing system — specifically ADAR (Adenosine Deaminase Acting on RNA) — to make targeted edits to a single RNA base. OPERA can repair disease-causing mutations at the RNA level, in addition to creating therapeutically beneficial versions of proteins to improve patient outcomes. Korro’s programs target a broad portfolio of innovative RNA editing therapies in the liver, eye and central nervous system 

“This technology holds tremendous potential to usher in a new era of RNA editing therapies,” said Nessan Bermingham, Ph.D., Korro’s co-founder and executive chair. “We are leveraging a natural cellular system that has evolved over millions of years to base edit RNA. By co-opting these endogenous enzymes, we can create highly targeted, titratable and reversible therapeutics that are straightforward to design, manufacture and deliver. We are grateful for the continued support of our existing investors and look forward to working with our new investors to advance a new generation of transformational therapies to the clinic.”

“Korro has now established proof of mechanism in animal models; we believe specific and safe single-base RNA editing will be relevant across a number of debilitating diseases,” said Jean-François Formela, M.D., a partner at Atlas Venture, co-founder and member of the board.

“We are proud to support Korro’s industry-leading approach to RNA editing,” said Hannah Chang, M.D., Ph.D., a managing director at Wu Capital and member of the board. “They have demonstrated high specificity and efficacy in their preclinical work — both in vitro and in vivo — establishing a swift and direct path to the clinic. It’s also exciting to see that such innovative science can leverage tried-and-true strategies for efficient manufacturing at scale. Korro truly has the potential to usher in a new era of nucleic acid editing therapeutics.”

Source: Korro Bio

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