Cyclerion rises on merger with Korsana Biosciences, $380 mln funding

Korsana Biosciences

01/04/2026 12:20

** Shares biotech firm Cyclerion Therapeutics CYCN.O rise 37.4% to $2.13 in premarket trading

** Co says it will merge with private Korsana Biosciences, pivoting to treatments for Alzheimer’s, a brain disease that slowly destroys memory and thinking

** CYFN says combined company will get $380 mln in private funding led by Fairmount and Venrock, enough to fund operations through 2029

** Says Korsana’s lead experimental drug KRSA-028 is an antibody designed to slow Alzheimer’s by targeting toxic brain proteins

** Says early testing in healthy volunteers is planned for mid‑2027, with initial patient data due later that year

** Cyclerion shareholders to own about 1.5% of the new company, which will trade as Korsana Biosciences on Nasdaq under “KRSA”

** As of last close, stock up ~22% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))