Korsana Biosciences, a Paragon Therapeutics spinout, entered into a reverse merger with public company Cyclerion Therapeutics to go public on Nasdaq under ticker 'KRSA'1
The merged company secured $380 million in private investment led by Fairmount and Venrock Healthcare Capital Partners1
The transaction is expected to complete in the third quarter of 2026, with the merged company operating under the Korsana brand1
Korsana's lead asset is KRSA-028, a monoclonal antibody designed to target amyloid beta and cross the blood-brain barrier using a proprietary transferrin receptor-binding technology12
KRSA-028 data on amyloid plaque clearance is expected to read out by the end of 2027 from a planned phase 1 trial1
Cyclerion shareholders are expected to own 1.5% of the merged company, with Korsana's stockholders holding the remainder1
Korsana emerged from stealth in February 2026 with $175 million in funding and is the seventh company launched from Paragon Therapeutics14
Sources:
1. https://www.fiercebiotech.com/biotech/korsana-follows-debut-cyclerion-reverse-merger-focused-alzheimers-asset
2. https://www.businesswire.com/news/home/20260401287952/en/Cyclerion-Therapeutics-and-Korsana-Biosciences-Announce-Merger-Agreement
4. https://www.biospace.com/press-releases/korsana-biosciences-emerges-from-stealth-with-175-millon-in-funding-to-advance-potential-best-in-class-therapeutics-for-neurodegenerative-diseases