09:09 AM EDT, 09/16/2024 (MT Newswires) -- Korro Bio ( KRRO ) said Monday it has partnered with Novo Nordisk (NVO) to discover and develop new genetic medicines, with an initial focus on cardiometabolic disease treatments.

Under terms of the partnership, Korro will receive $530 million in upfront, development and commercial milestone payments, in addition to tiered royalties and research funding.

Korro Chief Executive Ram Aiyar said the partnership "will expand the opportunity to potentially bring targeted RNA editing to diseases with high prevalence."

Shares of the company were up nearly 4% in recent Monday premarket activity.

Price: 43.00, Change: +1.57, Percent Change: +3.79