Korro Bio, Frequency Therapeutics Merging into Single Company
Merger aims to advance RNA editing programs.
Korro Bio, a ribonucleic (RNA) editing organization, and Frequency Therapeutics Inc., have announced plans to merge into one company as part of an all-stock transaction. According to Korro Bio, the new organization will concentrate on the enhancement of its portfolio of RNA editing programs.
Current stockholders for Frequency Therapeutics are expected to own approximately 8% of the combined company and pre-merger Korro Bio stockholders are expected to own approximately 92% of the combined company.
“Following comprehensive review and consideration of our strategic options, management and our Board of Directors believe the merger with Korro Bio provides the best opportunity for the company and its stockholders,” said David. L. Lucchino, CEO, Frequency Therapeutics, in a company press release. “Korro Bio’s RNA editing technology leverages genetics transiently, expanding the target space to intervene in biology in a unique manner. We are confident in their ability to bring forward important genetic medicines with the potential to transform the lives of patients.”
Reference: Korro Bio and Frequency Therapeutics Announce Merger Agreement. Business Wire. July 14, 2023. Accessed July 14, 2023. https://www.businesswire.com/news/home/20230714609713/en/Korro-Bio-and-Frequency-Therapeutics-Announce-Merger-Agreement
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