Surrozen, Inc. announced that it expects to receive $120.2 million in funding from Consonance Capital Management LP, The Column Group LLC, and other investors
April 14, 2021
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Surrozen, Inc. announced a private placement of 12,020,000 units at the price of $10 per unit for aggregate gross proceeds of $120,200,000 on April 15, 2021. The transaction was led by United States based, healthcare-focused fund and Consonance Capital Management LP, with participation from other leading life sciences-dedicated funds and existing investor including The Column Group LLC. Each unit consist of one share and one-third of one redeemable warrant for one share of company's common share. Each whole warrant entitles the holder thereof to purchase one share of company's common stock at a price of $11.50 per share, subject to adjustment. The transaction is expected to close in the third quarter of 2021.
Surrozen, Inc. is a clinical-stage biotechnology company. The Company is engaged in discovering and developing drug candidates to selectively modulate the Wnt pathway, a critical mediator of tissue repair, in a range of organs and tissues. The Company is developing tissue-specific antibodies designed to engage the bodyâs existing biological repair mechanisms with a current focus on severe liver and eye diseases. Its two lead product candidates include SZN-043 and SZN-413. SZN-043 is the first development candidate using Surrozenâs SWEETS technology. It is developing SZN-043 for severe liver diseases, initially focusing on alcohol-associated hepatitis. It has completed a Phase I a clinical trial in patients with chronic liver disease and healthy volunteers. SZN-413 is a bi-specific antibody targeting Fzd4-mediated Wnt signaling designed using Surrozenâs SWAP technology. SZN-413 is being developed for the treatment of retinal vascular-associated diseases.
Surrozen, Inc. announced that it expects to receive $120.2 million in funding from Consonance Capital Management LP, The Column Group LLC, and other investors
SURROZEN, INC. 
