All existing shareholders contributed to the Marine Biological Laboratory spinout’s series B round, following a $91.5m series A in mid-2020.
Korro Bio, a US-based RNA editing technology developer based on research at University of Chicago-affiliated Marine Biological Laboratory, secured $116m in series B financing led by Eventide Asset Management last week.
Fidelity Management & Research, Invus, Point72, Verition Fund Management, Monashee Investment Management, Sixty Degree Capital and an unnamed healthcare specialist fund invested in the company alongside all existing backers.
Existing shareholders include Atlas Venture, New Enterprise Associates (NEA), Wu Capital, Qiming Venture Partners USA, Surveyor Capital, Cormorant Asset Management, MP Healthcare Venture Management and Alexandria Venture Investments, the investment arm of life sciences real estate investment trust Alexandria Real Estate Equities.
Founded in 2018, Korro Bio is working on RNA editing technology that aims to repair mutations responsible for genetically inherited diseases. Its lead asset is aimed at Alpha-1 Antitrypsin Deficiency, a condition that leads to liver and lung disease.
The series B capital will allow Korro Bio to advance its lead programme and expand its pipeline. Joy Ghosh, portfolio manager at Eventide Asset Management, and Alex Silverstein, portfolio manager at Point72, have been appointed to the board of directors.
Wu Capital led a $91.5m series A round for Korro Bio in September 2020, when Alexandria Venture Investments, Atlas Venture, NEA, Qiming Venture Partners USA, Surveyor Capital, Cormorant Asset Management and MP Healthcare Venture Management also took part.
Atlas Venture had supplied an undisclosed amount in 2018.
