Korro Bio Lays Off 20% of Workforce to Extend Runway for Genetic Medicine Trials and Novo Nordisk Partnership
Korro Bio has laid off approximately 20% of its workforce as part of cost-cutting measures to fund ongoing genetic medicine development and advance its partnership with Novo Nordisk135.
The layoffs are aimed at giving Korro enough financial runway to complete its early-stage REWRITE clinical trial for KRRO-110, an RNA-editing therapy targeting alpha-1 antitrypsin deficiency (AATD), with trial completion expected in 202635.
Korro's restructuring will also help push three drug candidates into the clinic by the end of 2027 and allow the company to select a second development candidate3.
The company will use the freed-up funds to support key milestones, including its collaboration with Novo Nordisk, which involves advancing up to two programs using Korro’s RNA editing platform, one targeting a yet-undisclosed cardiometabolic disease135.
After the layoffs, Korro projects it will have sufficient funding to operate through 2027, with $139 million in cash and equivalents reported as of March 31, 202515.
The immediate cost of the layoffs totals $1.2 million in one-time payments5.
Streamlining the organization was described by COO Todd Chappell as essential for Korro’s long-term success13.
Sources:
1. https://www.biopharmadive.com/news/vor-korro-insitro-rallybio-biotech-layoffs/747606/
3. https://www.labiotech.eu/trends-news/genomics-companies-layoffs-us/