Korro Bio, Inc. filed a Form 8-K on November 5, 2026, disclosing that Novo Nordisk A/S issued written notice on November 3, 2026, to terminate for convenience its research collaboration and license agreement with Korro Bio, with the termination effective February 1, 2027.

Key Highlights

  • Termination notice received: Korro Bio received written notice from Novo Nordisk on November 3, 2026, invoking the agreement's 90-day for-convenience termination provision.
  • Effective date: The termination will be effective February 1, 2027, according to the filing.
  • Original agreement: The collaboration and license agreement was dated September 13, 2024, and amended November 11, 2025.
  • Upfront payment received: Korro received a $10.0 million upfront payment and reimbursement of certain research and development costs under the agreement.
  • No milestones earned: The filing states that no milestone payments were earned under the collaboration and license agreement.
  • No penalties: Korro will not incur any early termination penalties, and amounts previously received are non-refundable.
  • Q3 2026 results also disclosed: Korro issued a press release on November 5, 2026, announcing financial results for the quarter ended September 30, 2026.

Novo Nordisk Exits Korro Bio Cardiometabolic Collaboration

According to the filing, Novo Nordisk's election to terminate invokes a provision in the collaboration and license agreement that permits termination without cause upon 90 days' prior written notice. Under the agreement, Korro had granted Novo Nordisk an exclusive worldwide license under certain intellectual property rights to research, develop, manufacture, commercialize, or otherwise exploit certain licensed compounds and licensed products for an initial target in the cardiometabolic field and for a second target to be nominated by Novo Nordisk within a specified time period. The filing states that Novo Nordisk did not nominate a second target.

As previously disclosed in a November 12, 2025, Form 8-K, the parties entered into an amendment to the agreement effective November 11, 2025, which paused the agreement for 12 months and suspended all research and development activities. The filing notes that Korro completed the wind-down of its research and development activities under the agreement in 2025, and that Novo Nordisk did not exercise its right to substitute the collaboration target during the hold period.

As of the February 1, 2027, termination date, the filing discloses that the licenses granted under the agreement will terminate and neither party will have the right to further research, develop, or commercialize the licensed compounds or products unless the parties agree otherwise. Each party will retain its ownership interest in intellectual property arising under the collaboration. Novo Nordisk will reimburse Korro for any additional third-party wind-down costs and non-cancellable committed costs attributable to the termination. Certain provisions survive termination, including mutual confidentiality obligations and restrictions on Korro's research and development of products directed to the collaboration target. The filing is signed by Ram Aiyar, President and Chief Executive Officer and Interim Chief Financial Officer, on behalf of Korro Bio (NASDAQ:KRRO).

What Was Disclosed

Korro Bio reported receiving a termination notice from Novo Nordisk for their 2024 research collaboration and license agreement, effective February 1, 2027, with no milestone payments earned, no early termination penalties for Korro, and the $10.0 million upfront payment remaining non-refundable.