Surrozen secures $175M PIPE for ophthalmology Wnt mimetics, drops liver program

Surrozen, Inc./DE

Oversubscribed $175M private placement (two tranches: $70M initial, $105M contingent on FDA clearance) led by Venrock Healthcare Capital Partners.
Prioritizes ophthalmology pipeline: lead candidates SZN-8141 (Fzd4/VEGF) and SZN-8143 (Fzd4/VEGF/IL-6) for retinopathies.
Discontinues SZN-043 in severe alcohol-associated hepatitis due to insufficient clinical benefit signal relative to development path.
Tim Kutzkey, Ph.D. joins Board of Directors; Series A/B warrant exercise prices reduced, Series C/D warrants cancelled.
Funds multiple ophthalmology programs through Phase 1 safety, tolerability and efficacy studies.

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