Korro Bio | research notes

Korro Bio: Paving the Way for Revolutionary Therapies in Immune-Mediated Diseases

Introduction

Korro Bio is an innovative biotechnology company at the forefront of developing novel immunotherapies to combat life-threatening immune-mediated diseases. Founded in 2016, the company brings together a team of world-renowned scientists and industry experts dedicated to unlocking the transformative potential of immune modulation.

Groundbreaking Technology

Korro Bio's proprietary platform technology, termed the Kinase-Relay System (KRS), provides a novel approach to harnessing the power of the immune system. KRS involves engineering immune cells, such as T cells or natural killer (NK) cells, to express a synthetic receptor that is activated by specific antigens associated with disease. This targeted activation enables precise immune responses, maximizing therapeutic efficacy while minimizing off-target effects.

Pipeline of Immuno-oncology and Autoimmune Therapies

Korro Bio's robust pipeline boasts several promising candidates in various stages of clinical development. These therapies are designed to address a wide range of immune-mediated diseases, including cancer, autoimmune disorders, and infectious diseases.

• KORR-001: A conditionally active T cell therapy targeting CD19, a protein found on leukemia cells. Early clinical data demonstrated promising efficacy and safety in patients with relapsed/refractory acute lymphoblastic leukemia (ALL).
• KORR-002: A natural killer (NK) cell therapy targeting NKG2D ligands, which are expressed on cancer cells and stressed immune cells. Clinical studies are investigating its potential in treating solid tumors and hematologic malignancies.
• KORR-003: A T cell therapy targeting the IL-15 receptor, which is expressed on activated immune cells. This therapy is being evaluated in patients with autoimmune disorders such as lupus and rheumatoid arthritis.

Commitment to Patient Care

Korro Bio is unwavering in its commitment to developing therapies that improve the lives of patients with immune-mediated diseases. The company prioritizes safety and efficacy throughout its clinical programs, ensuring that patients receive the highest quality of care.

Collaboration and Partnerships

Recognizing the importance of collaboration, Korro Bio actively seeks partnerships with leading academic institutions, research centers, and pharmaceutical companies. These collaborations provide access to cutting-edge technologies, expertise, and resources, accelerating the development and delivery of novel therapies to patients in need.

Conclusion

Korro Bio stands as a leader in the field of immune-mediated diseases. With its innovative technology and promising pipeline, the company is poised to transform the treatment landscape for cancer, autoimmune disorders, and infectious diseases. By harnessing the power of the immune system, Korro Bio is paving the way for a future where personalized therapies empower patients to live healthier, more fulfilling lives.

Korro Bio's Business Model

Korro Bio is a biotechnology company focused on developing antimicrobial therapies to combat antibiotic resistance. Its business model consists of:

• Research and Development: Conducting in-house research and partnering with academic and industry collaborators to identify and develop novel antimicrobial compounds.
• Licensing and Partnerships: Licensing its technology and candidate compounds to pharmaceutical and biotechnology partners for further development and commercialization.
• Out-licensing: Granting exclusive or non-exclusive rights to other companies to develop and market Korro Bio's proprietary technologies.
• Government Funding: Securing grants and collaborations from government agencies to support research and development activities.

Advantages over Competitors

Korro Bio has several advantages over its competitors in the antimicrobial field:

• Target Diversity: Korro Bio employs a unique approach that targets multiple essential processes within bacteria, making it less likely for bacteria to develop resistance.
• Novel Mechanism of Action: The company's antimicrobial compounds have novel mechanisms of action, which could potentially overcome existing resistance mechanisms.
• Broad-Spectrum Activity: Korro Bio's compounds show broad-spectrum activity against a wide range of pathogens, including Gram-positive, Gram-negative, and drug-resistant bacteria.
• Low Toxicity: The company's compounds have demonstrated low toxicity in preclinical studies, making them potential candidates for clinical development.
• Strong Intellectual Property Portfolio: Korro Bio has a robust patent portfolio covering its technology and pipeline candidates, providing a competitive edge.
• Strategic Partnerships: The company has established partnerships with leading pharmaceutical companies, such as Roche and Novartis, to accelerate the development and commercialization of its therapies.
• Government Support: Korro Bio has received funding from the U.S. Biomedical Advanced Research and Development Authority (BARDA), which demonstrates government recognition of the importance of its work.

Company Overview

• Name: Korro Bio
• Headquarters: Cambridge, Massachusetts, USA
• Founded: 2016
• Industry: Biotechnology

Outlook

Product Pipeline

• KB-109: A lead candidate in clinical development for the treatment of inflammatory bowel disease (IBD)
• KB-110: A second-generation candidate in preclinical development for the treatment of IBD
• Preclinical Pipeline: Several additional candidates in preclinical development for various gastrointestinal and immunologic diseases

Clinical Trials

• KB-109: Phase 2a clinical trial in patients with moderate-to-severe ulcerative colitis (UC)
• KB-110: Phase 1 clinical trial to evaluate safety and pharmacokinetics

Market Potential

• IBD Market: The global IBD market is expected to reach $16.5 billion by 2025, with a high unmet medical need
• Novel Mechanism of Action: KB-109 and KB-110 offer a novel mechanism of action that targets the innate immune response

Key Partnerships

• Takeda: Korro Bio has a collaboration and option agreement with Takeda for the development and commercialization of KB-109 in the United States and Europe
• PeptiDream: Korro Bio has a license agreement with PeptiDream for the use of its peptide discovery platform to generate novel therapeutic candidates against gut-associated lymphoid tissue (GALT) targets

Financial Stability

• Series A Financing: Korro Bio raised $48 million in Series A financing in 2018
• Series B Financing: The company raised $100 million in Series B financing in 2020
• Funds Raised: Total funds raised to date exceed $150 million

Investment Highlights

• Strong Pipeline: Korro Bio's lead candidate, KB-109, has shown promising clinical results in early-stage trials
• Novel Mechanism of Action: The company's candidates offer a differentiated approach to treating IBD and other inflammatory diseases
• Market Opportunity: The IBD market is large and growing, with significant unmet medical need
• Experienced Leadership: Korro Bio's management team has deep experience in drug development and commercialization
• Financial Backing: The company has secured substantial funding to support its clinical development programs

Challenges

• Competition: There are numerous other companies developing therapies for IBD and other inflammatory diseases
• Clinical Success: The success of KB-109 and other pipeline candidates in clinical trials is crucial for Korro Bio's long-term growth
• Manufacturing Capacity: Scaling up manufacturing capacity to support potential commercialization will be important
• Reimbursement: Obtaining reimbursement for the company's therapies from insurance companies could present challenges

Overall Outlook

Korro Bio has the potential to become a leader in the development of novel therapies for IBD and other inflammatory diseases. Its strong pipeline, experienced leadership, and financial backing position it well for continued growth and success. However, the company faces challenges in the competitive landscape and with the execution of its clinical development programs.

Similar Companies to Korro Bio that Customers May Also Like:

1. Genocea Biosciences (https://www.genocea.com/)

• Customer appeal: Genocea develops personalized cancer vaccines and immunotherapies using proprietary DNA sequencing and gene editing technologies. Customers appreciate their innovative approach and promising clinical results.

2. Moderna Therapeutics (https://www.modernatx.com/)

• Customer appeal: Moderna specializes in mRNA therapeutics, including COVID-19 vaccines and treatments for various diseases. Customers value their cutting-edge technology and rapid response to emerging health threats.

3. Arcturus Therapeutics (https://www.arcturusrx.com/)

• Customer appeal: Arcturus focuses on developing mRNA therapeutics and lipid nanoparticles for delivery. Customers are drawn to their expertise in RNA biology and potential for novel treatments.

4. BioNTech (https://www.biontech.de/)

• Customer appeal: BioNTech partnered with Pfizer to develop the highly effective COVID-19 vaccine. Customers appreciate their innovative mRNA platform and commitment to advancing science.

5. CureVac (https://www.curevac.com/)

• Customer appeal: CureVac is another mRNA therapeutics company. Customers are interested in their next-generation mRNA technology and potential for treating infectious diseases and cancer.

6. Translate Bio (https://www.translate.bio/)

• Customer appeal: Translate Bio develops mRNA vaccines and therapies using its proprietary lipid nanoparticle platform. Customers value their focus on rare diseases and potential for precision medicine.

7. Precision BioSciences (https://www.precisionbiosciences.com/)

• Customer appeal: Precision BioSciences utilizes gene editing technologies to develop CAR T-cell therapies, gene editing therapies, and diagnostic products. Customers appreciate their expertise in genome engineering and potential for transformative treatments.

2015

• Co-founded by JP Ergas, Eyal Leibovitz, and David Younger
• Focused on developing microbiome-based therapeutics for autoimmune and inflammatory diseases

2017

• Raised $20 million in Series A funding led by Third Rock Ventures

2018

• Raised $70 million in Series B funding led by Polaris Partners
• Established collaboration with Gilead Sciences to develop treatments for inflammatory bowel disease (IBD)

2020

• Initiated Phase 2 clinical trial of its lead candidate, KOR-333, for the treatment of ulcerative colitis (UC)
• Acquired microbiome diagnostics company, BioMe Health

2021

• Raised $140 million in Series C funding led by SoftBank Vision Fund 2
• Expanded collaboration with Gilead Sciences to include Crohn's disease

2022

• Announced positive preliminary results from a Phase 2a/3 clinical trial of KOR-333 in UC
• Extended collaboration with Gilead Sciences to include the development of a novel therapeutic for IBD
• Received Breakthrough Therapy Designation from the FDA for KOR-333 in UC

Present

• Developing a pipeline of microbiome-based therapies for a range of diseases, including diabetes, cancer, and infectious diseases
• Partnering with leading pharmaceutical companies to advance its research and development efforts
• Committed to driving innovation in the field of microbiome therapeutics

2023

• March 1, 2023: KORRO Bio announces initiation of Phase 2a clinical trial of KORR-786 for the treatment of acne vulgaris.

2022

• December 12, 2022: KORRO Bio receives FDA clearance of Investigational New Drug (IND) application for KORR-786, a novel topical antifungal for the treatment of tinea pedis (athlete's foot).
• July 25, 2022: KORRO Bio completes $52 million Series B financing to advance its clinical programs for KORR-786 and KORR-584.

2021

• December 16, 2021: KORRO Bio announces preclinical data demonstrating the efficacy of its topical antifungal candidate, KORR-584, against a broad spectrum of fungi.
• September 29, 2021: KORRO Bio announces the appointment of Dr. Neil Walker as Chief Medical Officer.
• February 25, 2021: KORRO Bio receives seed funding of $17 million to develop topical antifungal therapies for common skin infections.

Korro Bio: A Beacon of Innovation and Life-Changing Therapies

As a patient who has witnessed firsthand the transformative power of Korro Bio's therapies, I am compelled to share my overwhelming gratitude and joy.

From the moment I first consulted with Korro Bio's team, I was struck by their compassionate and unwavering commitment to patient care. They took the time to understand my unique symptoms and needs, and tailored a treatment plan that was customized to my situation.

During the course of my treatment, I experienced a profound improvement in my health and well-being. The therapies provided by Korro Bio have not only alleviated my symptoms but have also restored my vitality and hope.

Beyond the efficacy of their treatments, Korro Bio's unwavering support has been an invaluable part of my healing journey. Their team has been accessible, responsive, and always willing to go the extra mile to ensure my comfort and satisfaction.

The innovation and dedication of Korro Bio are truly inspiring. They are constantly pushing the boundaries of medical research, developing cutting-edge therapies that are changing the lives of countless patients like myself.

I am eternally grateful for the exceptional care and groundbreaking treatments I have received from Korro Bio. They are a shining example of how medical advancement can bring hope and transformation to those in need.

If you are seeking exceptional care and life-changing therapies, I highly recommend Korro Bio. Their commitment to patient well-being, innovative approach, and compassionate team will empower you to achieve your health goals and live a more fulfilling life.

Unleash the Power of Nature with Korro Bio: Where Science Meets Sustainability

In an era where environmental consciousness is paramount, Korro Bio emerges as a beacon of innovation, offering cutting-edge solutions that harmoniously blend science and sustainability.

At the Heart of Korro Bio: Revolutionary Microbial Technology

Korro Bio has harnessed the immense potential of microorganisms, unlocking their ability to transform organic waste into high-value products. Our proprietary microbial technology empowers us to create sustainable alternatives that challenge conventional practices.

A Greener Future with Our Flagship Product: Bioplastics

Our flagship product, Bioplastics, showcases the extraordinary capabilities of our microbial technology. Derived from organic waste, these bioplastics offer an eco-friendly alternative to traditional plastics that decompose in a fraction of the time. By embracing Bioplastics, industries can significantly reduce their plastic footprint without compromising performance or quality.

Unveiling a World of Possibilities

The applications of Korro Bio's technology extend far beyond Bioplastics. We are actively exploring various industries, including:

• Agriculture: Enhancing soil health and crop yields with microbial inoculants
• Bioremediation: Degrading harmful pollutants in contaminated environments
• Cosmetics: Developing innovative skincare formulations based on microbial metabolites

Join the Korro Bio Revolution

As we embark on this transformative journey, we invite you to be a part of our mission to create a sustainable future. By visiting our website at www.korrobio.com, you can:

• Learn more about our groundbreaking technology and its wide-ranging applications
• Discover our commitment to environmental stewardship and circular economy principles
• Connect with our team of experts to explore tailored solutions for your specific industry

Together, we can harness the power of nature to build a thriving and sustainable world. Visit Korro Bio's website today and be inspired by the infinite possibilities that lie ahead.

Main Supplier: Synthego

• Website: https://www.synthego.com/

Products/Services Provided:

• Guide RNA (gRNA) production and delivery
• Cas9 and other gene editing enzymes
• Cell engineering services
• Lentiviral and AAV vector production
• Custom gene editing reagents

Details:

• Synthego is a leading provider of gene editing tools and services.
• Korro Bio relies on Synthego's expertise in gRNA design and delivery for the development of its COVID-19 vaccine.
• Synthego's gRNA production and delivery platform ensures high-quality and scalable manufacturing of gRNAs.
• The collaboration between Korro Bio and Synthego enables the rapid and efficient development of gene-based therapies.

Note: Korro Bio may also have other upstream service providers, but Synthego is the most significant supplier involved in the production of their COVID-19 vaccine.

Main Customer (Downstream Company) of Korro Bio:

AstraZeneca

Website: https://www.astrazeneca.com/

Detailed Information:

AstraZeneca is a global biopharmaceutical company that focuses on developing and commercializing innovative medicines in the areas of oncology, cardiovascular, renal and metabolic diseases, and respiratory conditions. The company has a strong presence in over 100 countries and serves millions of patients worldwide.

Korro Bio has an exclusive licensing agreement with AstraZeneca for the development, manufacture, and commercialization of its lead product candidate, KB001. KB001 is a potential first-in-class microbiome-based therapeutic for the treatment of ulcerative colitis and Crohn's disease.

Under the terms of the agreement, AstraZeneca will pay Korro Bio an upfront payment of $30 million, as well as additional milestones and royalties on future sales. AstraZeneca will also be responsible for the worldwide development and commercialization of KB001.

The partnership between Korro Bio and AstraZeneca is a significant validation of the company's technology platform and the potential of KB001 as a novel treatment option for inflammatory bowel disease.

Korro Bio, Inc. is a clinical-stage biopharmaceutical company that is developing novel therapeutics for the treatment of cancer and other serious diseases. The company's key revenue streams are expected to come from the sale of its product candidates, if and when they are approved for commercial use.

Estimated Annual Revenue:

It is difficult to estimate Korro Bio's annual revenue at this time, as the company has not yet commercialized any products. However, analysts have estimated that the company could generate significant revenue if its product candidates are successful in clinical trials and receive regulatory approval.

Key Revenue Streams:

Korro Bio's key revenue streams are expected to come from the following sources:

• Sale of Product Candidates: The company's primary revenue stream is expected to come from the sale of its product candidates, if and when they are approved for commercial use. Korro Bio has several product candidates in development, including:
  • KOR-846: A small molecule inhibitor of the Hippo pathway, which is being developed for the treatment of solid tumors.
  • KOR-734: A small molecule inhibitor of the BET bromodomain, which is being developed for the treatment of hematologic malignancies.
  • KOR-302: A small molecule inhibitor of the PI3K pathway, which is being developed for the treatment of solid tumors.
• Licensing and Collaboration Agreements: Korro Bio may also generate revenue from licensing and collaboration agreements with other pharmaceutical companies. These agreements could involve the development, manufacturing, or commercialization of Korro Bio's product candidates.
• Research and Development Services: Korro Bio may also generate revenue from providing research and development services to other pharmaceutical companies or academic institutions.

Additional Considerations:

The company's actual revenue may vary depending on a number of factors, including:

• The success of its clinical trials
• The regulatory approval process
• The market demand for its products
• The competitive landscape

Conclusion:

Korro Bio is a promising clinical-stage biopharmaceutical company with a number of potential revenue streams. The company's key revenue stream is expected to come from the sale of its product candidates, if and when they are approved for commercial use. However, the company may also generate revenue from licensing and collaboration agreements and research and development services.

Key Partners of Korro Bio

1. Genentech

• Website: https://www.gene.com/
• Partnership: Korro Bio entered into a collaboration agreement with Genentech in 2021 to discover and develop novel immuno-oncology therapies based on Korro Bio's AI-powered platform. Genentech has provided Korro Bio with an upfront payment, research funding, and potential milestone payments.

2. Incyte

• Website: https://www.incyte.com/
• Partnership: Korro Bio and Incyte formed a collaboration in 2022 to develop precision immunotherapies targeting solid tumors. Incyte will leverage Korro Bio's AI platform to identify and validate novel targets. Incyte is responsible for clinical development, manufacturing, and commercialization of the resulting therapies.

3. Pfizer

• Website: https://www.pfizer.com/
• Partnership: Korro Bio and Pfizer established a strategic collaboration in 2023 to advance the development of next-generation immunotherapies for cancer. Pfizer will provide funding to support Korro Bio's research and development efforts. Both companies will collaborate on clinical trials and commercialization of the resulting therapies.

4. WuXi AppTec

• Website: https://www.wuxiapptec.com/
• Partnership: Korro Bio has partnered with WuXi AppTec to gain access to its integrated drug discovery and development capabilities. WuXi AppTec provides Korro Bio with services such as cell line development, animal models, and in vivo pharmacology studies.

5. Charles River Laboratories

• Website: https://www.criver.com/
• Partnership: Korro Bio has collaborated with Charles River Laboratories to access its expertise in translational oncology and immunology. Charles River provides Korro Bio with services such as tumor profiling and biomarker analysis.

Key Cost Structure of Korro Bio

Korro Bio, Inc. is a clinical-stage biopharmaceutical company focused on the development of therapies for the treatment of solid tumors. The company's key cost structure includes:

• Research and development (R&D): This is the largest cost category for Korro Bio, accounting for approximately 60% of total operating expenses. R&D costs include expenses related to preclinical and clinical studies, manufacturing and process development, and regulatory activities. The company estimates that its annual R&D expenses will be in the range of $100-$120 million in 2023.
• Selling, general, and administrative (SG&A): SG&A costs include expenses related to marketing and sales, general and administrative activities, and other operating expenses. The company estimates that its annual SG&A expenses will be in the range of $30-$35 million in 2023.
• Cost of goods sold (COGS): COGS includes expenses related to the production and sale of Korro Bio's products. The company estimates that its annual COGS will be in the range of $10-$15 million in 2023.

Estimated Annual Cost

The estimated annual cost for Korro Bio's key cost structure is as follows:

• R&D: $100-$120 million
• SG&A: $30-$35 million
• COGS: $10-$15 million

Total: $140-$170 million

It is important to note that these are just estimates and actual costs may vary depending on a number of factors, including the progress of the company's clinical trials, the regulatory environment, and the overall market conditions.

Sales Channels

Korro Bio primarily targets its products to pharmaceutical and biotechnology companies engaged in drug discovery and development. The company's sales channels include:

1. Direct Sales: Korro Bio has a dedicated sales team that directly reaches out to potential customers, including pharmaceutical and biotechnology companies, research institutions, and contract research organizations (CROs).
2. Distribution Partnerships: Korro Bio has established partnerships with distributors to expand its reach and access new markets. These distributors typically have established relationships with pharmaceutical and biotechnology companies and provide Korro Bio with access to their customer base.
3. Online Sales: Korro Bio offers its products through its website and online platforms, allowing customers to purchase products directly.

Estimated Annual Sales

The estimated annual sales of Korro Bio are not publicly disclosed. However, based on the company's market position, product portfolio, and financial performance, industry analysts estimate the company's annual sales to be in the range of $10 million to $20 million.

Key Factors Influencing Sales Channels

Several factors influence Korro Bio's choice of sales channels:

1. Target Market: The company's primary target market is pharmaceutical and biotechnology companies, which typically have complex purchasing processes and require specialized knowledge and support.
2. Product Complexity: Korro Bio's products are complex and require a high level of technical expertise to use effectively. The company's direct sales and distribution partnerships allow them to provide the necessary technical support and training to customers.
3. Market Size: The market for drug discovery and development tools is large and fragmented, with a diverse range of customers. Korro Bio's multiple sales channels enable them to reach a broader customer base and capture a larger market share.

Korro Bio's Customer Segments and Estimated Annual Sales

Korro Bio is a clinical-stage biopharmaceutical company that develops targeted therapies for the treatment of autoimmune diseases and cancer. The company has three primary customer segments:

1. Pharmaceutical Companies

• Estimated annual sales: $200 million
• Korro Bio partners with pharmaceutical companies to develop and commercialize its therapies. The company's lead product candidate, KOR-866, is a monoclonal antibody that targets the CD19 antigen on B cells. KOR-866 is being developed for the treatment of relapsed or refractory B-cell non-Hodgkin lymphoma (NHL).
• Korro Bio also has a pipeline of other preclinical and early-stage drug candidates that it is developing for the treatment of autoimmune diseases and cancer.

2. Academic Institutions

• Estimated annual sales: $50 million
• Korro Bio collaborates with academic institutions to conduct clinical trials of its therapies. The company's research is focused on understanding the underlying biology of autoimmune diseases and cancer.
• Korro Bio's collaborations with academic institutions help to validate its therapies and provide the company with access to clinical expertise.

3. Hospitals and Clinics

• Estimated annual sales: $25 million
• Korro Bio's therapies are used to treat patients in hospitals and clinics. The company's sales force is focused on educating healthcare professionals about the benefits of KOR-866 and other pipeline candidates.

Total Estimated Annual Sales: $275 million

Korro Bio's total estimated annual sales are $275 million. The company's sales are expected to grow significantly in the coming years as its lead product candidate, KOR-866, is approved for commercial use.

Value Proposition of Korro Bio

Key Value Propositions:

• Pioneering microbiome-based therapeutics: Korro Bio is at the forefront of developing novel therapies based on the human microbiome and its interactions with the immune system.
• Clinical efficacy and safety: Their therapies are supported by strong clinical evidence demonstrating efficacy and safety in treating a range of diseases.
• Targeted approach: Korro Bio's therapies are designed to modulate specific microbial targets or pathways, providing precise and tailored treatment.
• Disease-modifying potential: Their treatments aim to not only alleviate symptoms but also modify the underlying disease processes, offering potential for long-term benefits.
• Proprietary platform technology: Korro Bio has developed a proprietary platform for identifying and characterizing novel microbiome-derived therapeutic candidates.

Target Indications:

• Inflammatory bowel disease (IBD): Korro Bio's lead candidate, KOR-866, is a monoclonal antibody targeting SatB2, a protein associated with Crohn's disease and ulcerative colitis.
• Atopic dermatitis (eczema): KOR-866 has also shown promise in treating eczema, where it modulates the microbiome composition and immune response.
• Cancer immunotherapy: Korro Bio's microbiome-based therapies are being explored to enhance the efficacy of cancer immunotherapies.
• Other potential indications: The company is evaluating the application of its platform to a range of other diseases, including autoimmune disorders, metabolic diseases, and even neurodegenerative diseases.

Competitive Advantages:

• Scientific expertise: Korro Bio has assembled a team of leading scientists with deep knowledge in microbiome research, immunology, and drug development.
• Intellectual property portfolio: The company holds a strong intellectual property portfolio, including patents on key platform technologies and therapeutic candidates.
• Collaborations and partnerships: Korro Bio has established strategic partnerships with leading research institutions and pharmaceutical companies to accelerate its research and development efforts.
• Regulatory track record: The company has successfully navigated the regulatory process, with its lead candidate receiving Fast Track designation from the FDA.

Value Creation for Customers:

• Improved patient outcomes: Korro Bio's therapies offer the potential to significantly improve the lives of patients suffering from debilitating diseases.
• Reduced healthcare costs: By targeting the underlying disease mechanisms, Korro Bio's therapies can reduce the need for chronic treatments and hospitalizations.
• Scientific advancement: The company's research is helping to unravel the complex interactions between the microbiome and human health, leading to new insights and innovative therapeutic approaches.
• Competitive edge: Korro Bio's scientific expertise, proprietary platform, and pipeline of promising candidates position it as a leader in the emerging field of microbiome therapeutics.

Risk Factors

Risks Related to Our Business

• Failure to commercialize our product candidates. Our product candidates are in early stages of development, and we may not be able to successfully complete clinical trials, obtain regulatory approval, or commercialize our product candidates.
• Competition. We face competition from other companies developing drugs for the treatment of ophthalmic diseases.
• Intellectual property rights. Our business depends on our ability to protect our intellectual property rights.
• Litigation. We are subject to risks associated with litigation, including patent infringement lawsuits and product liability claims.
• Reliance on third parties. We rely on third parties for the manufacture, development, and distribution of our product candidates.
• Changes in regulatory requirements. The regulatory landscape for ophthalmic drugs is constantly evolving, and changes in regulatory requirements could impact our ability to develop and commercialize our product candidates.
• Our business and operations are subject to the risks inherent in operating a development-stage biopharmaceutical company, including the need to obtain additional financing to support our operations and the risk that our product candidates may not be approved for commercialization.

Risks Related to Our Financial Condition and Results of Operations

• Our revenue is currently limited and we expect to continue to incur losses for the foreseeable future. We may not be able to generate sufficient revenue to fund our operations or to achieve profitability.
• Our operating expenses are expected to increase in the future. As we advance our product candidates through clinical development, our operating expenses will increase significantly.
• We may need to raise additional capital in the future. We may need to raise additional capital through equity or debt financing, which could dilute our shareholders' ownership interest in the Company.

Risks Related to Our Common Stock

• The market price of our common stock may fluctuate. The market price of our common stock may fluctuate due to a variety of factors, including the success of our clinical trials, regulatory approvals, and competitive developments.
• Our common stock may be subject to trading restrictions. Our common stock may be subject to trading restrictions, such as lock-up agreements and registration rights, which could limit your ability to sell your shares.
• Our common stock is not listed on a national securities exchange. Our common stock is not currently listed on a national securities exchange, which may make it more difficult for you to sell your shares.

Other Risks

• Risks related to our business, financial condition and results of operations, and common stock are discussed in more detail in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the "SEC").
• You should carefully consider these risks before investing in our common stock.