Surrozen rises on news of back-loaded deal with Boehringer
Surrozen (Nasdaq: SRZN) gained as much as 7% to $2.36 yesterday, after the US biotech said it has entered into an exclusive worldwide collaboration and license agreement with German family-owned Boehringer Ingelheim to research and develop a pre-clinical asset for the treatment of retinal diseases.
SZN-413 is a bi-specific antibody targeting Fzd4-mediated Wnt signaling designed using Surrozen’s SWAP technology. It is currently being developed for the treatment of retinal vascular-associated diseases. Data generated by Surrozen with SZN-413 in pre-clinical models of retinopathy demonstrated that SZN-413 could potently stimulate Wnt signaling in the eye, induce normal retinal vessel regrowth, suppress pathological vessel growth and reduce vascular leakage. This novel approach could thus potentially allow for regeneration of healthy eye tissue, not only halting retinopathy, but possibly allowing for a full reversal of the patient’s disease.
Financial terms of the deal
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