The financing is expected to close immediately prior to the completion of Korro Bio’s merger with Frequency Therapeutics

Davis Polk advised the joint placement agents in connection with a private placement of $117 million of common stock of Korro Bio, Inc. The financing is expected to close immediately prior to the completion of Korro’s merger with Frequency Therapeutics, Inc. in an all-stock transaction.

Korro intends to use the proceeds from the offering to fund the combined company’s operations, including development of pipeline product candidates, working capital and other general corporate purposes.

Headquartered in Cambridge, Massachusetts, Korro is a privately held leading RNA editing company focused on the discovery and development of novel genetic medicines.

The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Yasin Keshvargar and associate Tianwei Liu. Partner David R. Bauer and associate Adrian Rabin provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

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