Surrozen enters $12.5M upfront license deal with Boehringer Ingelheim for Fzd4 bispecific antibodies

Surrozen, Inc./DE

Upfront payment of $12.5 million; eligible for up to $586.5M in development, regulatory, and commercial milestones.
Royalties on net sales range from mid-single digit to low-double digit, subject to standard reductions.
Boehringer Ingelheim leads development and commercialization of SZN-413 and other Fzd4 bispecifics for retinal diseases.
5-year exclusivity: Surrozen cannot develop Fzd4 bispecifics for eye diseases; BI restricted to eye diseases.
Collaborative research period of one year (BI may extend 6 months) after which BI selects lead and back-up candidates.

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