Surrozen Reports First Quarter 2025 Financial Results and Provides Business Update

Core Viewpoint - Surrozen, Inc. is focusing on its ophthalmology pipeline, particularly targeting severe eye diseases, and has announced its financial results for Q1 2025, highlighting a strategic pivot and financial updates [1][4]. Business Highlights - The company has shifted its focus to developing treatments for severe eye diseases such as age-related macular degeneration (AMD) and diabetic retinopathy, discontinuing the development of SZN-043 for severe alcohol-associated hepatitis due to insufficient clinical benefits [2][3]. - Surrozen is advancing its lead ophthalmology candidates, SZN-8141 and SZN-8143, towards clinical studies, with SZN-8141 expected to file an Investigational New Drug (IND) application in 2026 [3]. - The company has a collaboration with Boehringer Ingelheim for SZN-413, aimed at retinal vascular-associated diseases [3]. Financial Highlights - As of March 31, 2025, Surrozen's cash and cash equivalents were $101.6 million, a significant increase from $34.6 million as of December 31, 2024, due to $76.4 million raised from a private placement [5]. - Research service revenue from a related party was $1.0 million for the quarter, compared to zero in the same period of 2024, attributed to collaboration with TCGFB, Inc. [6]. - Research and development expenses increased to $6.6 million from $5.2 million in Q1 2024, reflecting costs associated with prioritizing ophthalmology programs [8]. - The net loss for Q1 2025 was $27.0 million, or ($7.43) per share, compared to a net loss of $8.8 million, or ($4.24) per share, for the same period in 2024 [10]. Ophthalmology Portfolio - SZN-8141 combines Frizzled 4 (Fzd4) agonism and Vascular Endothelial Growth Factor (VEGF) antagonism, potentially offering advantages over existing treatments for diabetic macular edema (DME) and wet AMD [11]. - SZN-8143 incorporates Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism, which may provide benefits over single-agent therapies for DME, wet AMD, and uveitic macular edema [12]. - SZN-413 is a bi-specific antibody targeting Fzd4-mediated Wnt signaling, showing promise in preclinical models for retinal vascular-associated diseases [13]. Company Overview - Surrozen is a biotechnology company focused on developing tissue-specific antibodies to modulate the Wnt pathway, with a current emphasis on ophthalmology and addressing severe diseases [14].