Core Viewpoint - Surrozen, Inc. has announced a strategic research collaboration with TCGFB, Inc. to develop antibody therapeutics targeting TGF-β for the treatment of idiopathic pulmonary fibrosis (IPF) [1][4]. Group 1: Collaboration Details - Surrozen will provide antibody discovery services for up to two years, with TCGFB owning all related intellectual property [2]. - TCGFB will compensate Surrozen with up to $6 million and issue warrants for up to 3,380,000 shares of TCGFB common stock at an exercise price of $0.0001 per share, contingent on certain vesting conditions [2]. Group 2: Company Background - Surrozen is a clinical-stage biotechnology company focused on discovering and developing drug candidates that selectively modulate the Wnt pathway, with a current emphasis on severe liver and eye diseases [3]. - TCGFB is a biotechnology company founded by The Column Group, concentrating on novel antibodies targeting TGF-β for IPF treatment [4]. Group 3: Leadership Statement - Craig Parker, President and CEO of Surrozen, expressed enthusiasm for the collaboration, highlighting the potential of targeting TGF-β as a novel therapeutic approach for IPF [3].

Boehringer is advancing the development of SZN-413 to prepare it for potential future clinical testing SZN-413 is a bi-specific antibody targeting Frizzled Class Receptor 4 (Fzd4) mediated Wingless/Integrated (Wnt) signaling, designed using Surrozen's SWAP™ technology SZN-413 offers the possibility of restoring retinal function in patients living with retinal vascular diseases SOUTH SAN FRANCISCO, Calif., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Surrozen, Inc. ("Surrozen" or the "Company") (Nasdaq: SRZN) announce ...

Financial Performance - For the three months ended June 30, 2024, the net loss increased to $25.3 million, a 169% increase compared to a net loss of $9.4 million for the same period in 2023[90]. - The company had an accumulated deficit of $255.8 million and cash and cash equivalents of $37.8 million as of June 30, 2024[85]. - The company expects to continue incurring net losses due to increased expenses related to research and development activities[102]. - The company has not generated revenue from product sales and relies on collaboration and license revenue[107]. Research and Development - Research and development expenses for the three months ended June 30, 2024, were $5.3 million, a decrease of 23% from $6.9 million in the same period of 2023[90]. - The company completed the Phase 1a study of SZN-043 in February 2024, demonstrating acceptable safety and tolerability, and has initiated enrollment in the Phase 1b clinical trial[82]. - SZN-043 program expenses increased by $0.5 million, or 24%, for the three months ended June 30, 2024, primarily due to the initiation of the Phase 1b clinical trial[91]. - Total research and development expenses decreased by $4.4 million, or 30%, to $10.6 million for the six months ended June 30, 2024, compared to $15.0 million for the same period in 2023[97]. - The company anticipates proof-of-concept data from the Phase 1b clinical trial in the first half of 2025[82]. Operating Expenses - The total operating expenses for the six months ended June 30, 2024, were $18.2 million, a decrease of 27% from $24.9 million in the same period of 2023[96]. - General and administrative expenses decreased by $1.0 million, or 12%, for the six months ended June 30, 2024, primarily due to workforce reductions and lower consulting fees[98]. Income and Financing - The increase in other income, net for the three months ended June 30, 2024, was $3.4 million, primarily due to a $4.8 million increase in non-cash change in fair value of warrant liabilities[94]. - Other income, net, increased by $3.6 million for the six months ended June 30, 2024, primarily due to a $5.0 million increase in non-cash change in fair value of warrant liabilities[101]. - Cash provided by financing activities was $16.1 million for the six months ended June 30, 2024, primarily from a private placement[112]. - The company entered into a private placement in April 2024, raising approximately $16.0 million, with potential additional proceeds of $175.5 million if warrants are fully exercised[105]. Economic Conditions - Inflation has increased and is expected to continue to rise, impacting labor costs and research expenses[118]. - The company does not believe inflation has materially affected its financial condition during the reported periods, but future costs may increase[118]. - Greater uncertainty in economic conditions and stock price volatility may arise due to inflation[118].

Core Insights - Surrozen is advancing targeted protein degradation (TPD) technologies to enhance Wnt-signal activation for treating liver diseases, specifically through the development of ASGR-targeted bispecific antibodies [1][7][10] - The company has initiated a Phase 1b clinical trial for SZN-043, focusing on severe alcohol-associated hepatitis, with proof-of-concept data expected in the first half of 2025 [3][9] Group 1: TPD Technologies and Research - The publication highlights the development of two new ASGR-targeted SWEETS bispecific antibodies that activate Wnt signaling through a unique TPD platform, enhancing liver function in mouse models [1][8] - A review article published in iScience summarizes the progress in Wnt activating platforms, emphasizing the potential of Wnt agonists in treating tissue degenerative diseases [2] Group 2: Clinical Development - SZN-043 is the first candidate utilizing Surrozen's SWEETS technology, having completed a Phase 1a clinical trial demonstrating safety and target engagement [3][9] - The Phase 1b clinical trial for SZN-043 began enrollment in Q2 2024, with expectations for proof-of-concept data in early 2025 [9] Group 3: Company Overview - Surrozen is a clinical-stage biotechnology company focused on discovering and developing drug candidates that selectively modulate the Wnt pathway, targeting severe liver and eye diseases [5][10] - The company's proprietary technologies aim to overcome limitations in pursuing the Wnt pathway as a therapeutic strategy, with a focus on tissue-specific antibodies [10]

Core Insights - Surrozen, Inc. is advancing its clinical development of SZN-043, a novel biotherapeutic aimed at enhancing Wnt signaling for liver regeneration, particularly in severe alcohol-associated hepatitis [6][11] - The Phase 1a trial of SZN-043 demonstrated safety and tolerability in both healthy volunteers and patients with liver cirrhosis, with evidence of target engagement and pharmacodynamic effects [5][7][11] - Enrollment for the Phase 1b trial in severe alcohol-associated hepatitis began in Q2 2024, with proof-of-concept data expected in early 2025 [6][13] Company Overview - Surrozen is a clinical-stage biotechnology company focused on developing targeted therapeutics that selectively activate the Wnt pathway for tissue repair and regeneration [16] - The company is also developing SZN-413, a bi-specific antibody for retinal diseases, in partnership with Boehringer Ingelheim, which includes an upfront payment of $12.5 million and potential milestone payments totaling up to $587 million [8][16] Clinical Trial Results - The Phase 1a trial involved 40 healthy volunteers and 8 patients with liver cirrhosis, with intravenous doses ranging from 0.5 mg/kg to 3 mg/kg [6][11] - Results indicated transient increases in alkaline phosphatase (ALP) and activation of Wnt signaling, as evidenced by improved liver function metrics [2][5][12] Future Developments - Surrozen is focused on optimizing its platform technologies to enhance Wnt pathway modulation, which is seen as a promising mechanism for liver regeneration [7][15] - The company aims to leverage its proprietary SWEETS™ technology for the development of SZN-043 and other therapeutics targeting severe liver diseases [7][11]

About Surrozen Treatment with SZN-043 in the Phase 1a trial was safe and well tolerated in healthy volunteers and patients with a history of liver cirrhosis Enrollment is ongoing in Phase 1b study in severe alcohol-associated hepatitis Study Overview Pharmacodynamic Biomarkers The study provided evidence of Wnt-mediated pharmacodynamic activity in the liver after treatment with SZN043. "We were pleased to present the first clinical data from this innovative bispecific antibody-based approach to modulating t ...

SOUTH SAN FRANSCISO, Calif., June 04, 2024 (GLOBE NEWSWIRE) -- Surrozen, Inc. ("Surrozen" or the "Company") (Nasdaq: SRZN), a company pioneering targeted therapeutics that selectively activate the Wnt pathway for tissue repair and regeneration, today announced that the first patient has been dosed in its Phase 1b clinical trial for SZN-043 in patients with severe alcohol-associated hepatitis. In the fourth quarter of 2022, Surrozen entered into a strategic partnership with Boehringer Ingelheim for the resea ...

SZN-043 is a novel hepatocyte-specific R-spondin mimetic bispecific fusion protein targeting ASGR1 Anticipate potential proof-of-concept data available in the first half of 2025 SOUTH SAN FRANSCISO, Calif., June 04, 2024 (GLOBE NEWSWIRE) -- Surrozen, Inc. ("Surrozen" or the "Company") (Nasdaq: SRZN), a company pioneering targeted therapeutics that selectively activate the Wnt pathway for tissue repair and regeneration, today announced that the first patient has been dosed in its Phase 1b clinical trial for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39635 Surrozen, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 30-1374889 | | --- | --- | | ( State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 171 Oyster Point Blvd, Suite 400, Sout ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39635 Surrozen, Inc. (Exact name of registrant as specified in its charter) | Delaware 30-1374889 | | --- | | (State or other jurisd ...