Filed by Frequency Therapeutics, Inc.
pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Form S-4 File No.: 333-273490
Subject Company: Frequency Therapeutics, Inc.
Filers SEC File No.: 001-39062
Date: October 25, 2023
Korro Bio Announces Appointment of Tim Pearson to Board of Directors Upon Closing of
the Proposed Merger and Promotion of Todd Chappell to Chief Operating Officer
|
|
|
Tim Pearson, CEO of Carrick Therapeutics and ex-CFO of TESARO, will
join as Director contingent on the close of the proposed merger with Frequency |
|
|
|
Todd Chappell is elevated to role of Chief Operating Officer, bringing over 20 years of product development
and product strategy experience |
|
|
|
Proposed merger expected to close in the fourth quarter of 2023 |
CAMBRIDGE, Mass., October 25, 2023 Korro Bio, Inc., a biopharmaceutical company with a mission to discover, develop and
commercialize a new class of genetic medicines based on editing RNA, enabling treatment of both rare and highly prevalent diseases, announced on July 14, 2023, the proposed business combination with Frequency Therapeutics, Inc. (Frequency
Therapeutics), a publicly listed company, and its concurrent financing of approximately $117 million before expenses with leading healthcare specialist investors, which is expected to close immediately prior to completion of the merger.
Frequency Therapeutics Annual Meeting of Stockholders, at which Frequencys stockholders will vote on matters related to the business combination, is scheduled for November 3, 2023. Korro Bio expects to close both the financing and
merger promptly after the required approvals are obtained from Frequencys stockholders.
In anticipation of the closing of the previously announced
merger and as previously disclosed in Frequencys prospectus related to the merger filed with the Securities and Exchange Commission (SEC) on September 29, 2023, Korro Bio announced the appointment of Tim Pearson as an independent Board
member of the combined company and the Chair of its Audit Committee. This appointment will be effective upon completion of the merger. Mr. Pearson has over 30 years of healthcare experience and has served as Chief Executive Officer of Carrick
Therapeutics since July 2019. Prior to joining Carrick, he served as an Executive Vice President and the Chief Financial Officer of TESARO, Inc., as an Executive Vice President, Chief Financial Officer and Treasurer of Catalyst Health Solutions,
Inc., and held various finance roles at MedImmune, Inc. Mr. Pearson is currently Chairman of the Board at GlycoMimetics, Inc. and previously was a member of the Board of Directors at Ra Pharmaceuticals, Inc.
We are pleased that Tim Pearson will join the future Board of the combined company and as the Chair of the Audit Committee, said Ram Aiyar, PhD,
Chief Executive Officer of Korro Bio. Tim is a financial expert and an industry veteran who has helped companies like TESARO grow from early stages through the commercialization of products. The combination of his operating and board
experience will set us up well as a newly formed public company.