Surrozen Announces Closing of Second Tranche of March 2025 Private Placement for $95.1 Million
Key Highlights
- ➤Surrozen (SRZN) raised approximately $95.1 million in second-tranche gross proceeds
- ➤FDA cleared SZN-8141’s IND application on October 2, 2026
- ➤Cash runway extends into 2029, funding key SZN-8141 and SZN-8143 milestones
- ➤Series E warrants cover approximately 4.1 million shares at $11.54 exercise price
- ➤DUET Phase 1b/2a first patient dosing expected in fourth quarter of 2026
Expert Statements
Craig Parker, President and Chief Executive Officer of Surrozen
“The completion of this financing marks an important milestone for Surrozen, significantly strengthening our balance sheet and providing the resources to advance our ophthalmology pipeline through multiple important clinical milestones,”
Craig Parker, President and Chief Executive Officer of Surrozen
“With expected cash runway into 2029, we are well positioned to advance SZN-8141 into the DUET Phase 1b/2a study and initiate clinical development of SZN-8143, while maintaining a disciplined approach to capital allocation.”
SOUTH SAN FRANCISCO, Calif., Oct. 20, 2026 (GLOBE NEWSWIRE) -- Surrozen, Inc. (Surrozen or the Company) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced the closing of the second and final tranche of its March 2025 private placement of securities.
The second closing generated approximately $95.1 million in gross proceeds, before deducting placement agent fees and other offering expenses. The closing followed the achievement of the second closing milestone under the Company’s March 2025 securities purchase agreement, which was triggered by FDA clearance of the Company’s Investigational New Drug (IND) application for SZN-8141 on October 2, 2026.
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