Korro Bio Enters Subscription Agreement for $85 Million Private Placement

MT Newswires Live03-09

Korro Bio (KRRO) said Monday that it has entered into a subscription agreement for a private investment in public equity financing for expected gross proceeds of about $85 million.

The company is selling about 4.5 million common shares at a price of $11.11 per share and pre-funded warrants to buy about 3.1 million common shares at a price of $11.109 per pre-funded warrant.

The financing was led by Venrock Healthcare Capital Partners and is expected to close on or about Tuesday.

The company said that the net proceeds, together with its cash, cash equivalents, and marketable securities, will extend Korro's cash runway into the second half of 2028 and advance its pipeline of therapies for genetic diseases, with the remainder to be used for working capital and general corporate purposes.

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