Surrozen Receives $10M Milestone Payment in Retinal Disease Partnership

Surrozen, Inc. (Nasdaq: SRZN) announced that Boehringer Ingelheim will proceed with the development of SZN-413 to advance it towards clinical testing. Surrozen is at the forefront of creating targeted therapeutics that activate the Wnt pathway to facilitate tissue repair and regeneration. This progression has triggered a $10 million milestone payment to Surrozen in accordance with their agreement.

Retinal vascular diseases contribute significantly to severe and moderate vision loss worldwide, affecting nearly 150 million individuals. Preclinical studies have indicated that SZN-413 has the potential to stimulate Wnt signaling within the eye. This activation could lead to normal retinal vessel regrowth, suppression of abnormal vessel growth, and reduction of vascular leakage. Consequently, SZN-413 may reverse the damage caused by retinal vascular diseases, thereby restoring retinal function.

Craig Parker, President and CEO of Surrozen, expressed enthusiasm about Boehringer's commitment to advancing SZN-413 following a successful period of joint research. He highlighted the strong genetic, experimental, and clinical evidence supporting the role of Fzd-4 specific Wnt signaling in retinal vasculature. Parker looks forward to further assessing this innovative therapeutic approach to address critical medical needs in retinal disease treatment.

In late 2022, Surrozen entered a strategic collaboration with Boehringer Ingelheim to research and develop SZN-413 for retinal disease treatment. As part of the agreement, Boehringer Ingelheim obtained an exclusive, worldwide license to develop SZN-413 and other Fzd4-specific Wnt-modulating molecules for various applications, including retinal disease treatment. In exchange, Surrozen received an upfront payment of $12.5 million, with the potential for up to $586.5 million in development, regulatory, and commercial milestone payments, along with mid-single to low-double digit royalties on sales.

The Wnt signaling pathway is crucial for the development, maintenance, and regeneration of numerous essential organs and tissues, including the liver, intestines, lungs, kidneys, retina, central nervous system, cochlea, and bones. Modulating Wnt signaling presents significant potential for treating degenerative diseases and tissue injuries. Surrozen's platform and proprietary technologies aim to overcome limitations in making the Wnt pathway a viable therapeutic strategy.

Surrozen is a clinical-stage biotechnology firm focused on discovering and developing drug candidates that selectively modulate the Wnt pathway. The company's tissue-specific antibodies are designed to engage the body’s inherent biological repair mechanisms, currently concentrating on severe liver and eye diseases.