SOUTH SAN FRANCISCO, Calif., June 19, 2020 (GLOBE NEWSWIRE) — Surrozen Inc., a biotechnology company pioneering a new class of targeted regenerative antibodies, today announced the successful completion of a $50 million Series C financing. Investors from the Series B financing participated in the Series C round, including The Column Group, Hartford Healthcare Trust, and Horizons Ventures. Four new investors also participated in this recent financing round, including Euclidean Capital. Surrozen is focused on engaging the body’s own biological repair mechanisms through tissue-specific modulation of the Wnt pathway to discover and develop a broad pipeline of first-in-class, targeted regenerative antibodies.
Proceeds from the financing will be used to advance the Company’s two IND candidates to the clinic, one for the for the treatment of liver disease and a second novel antibody for inflammatory bowel disease. The company will also continue its discovery efforts to expand its pipeline to include novel Wnt-modulating regenerative antibodies for additional tissues and disease areas.
“The nomination of our first two candidates marks the culmination of preclinical proof-of-concept work achieved in multiple disease models demonstrating cell proliferation, tissue regeneration, and functional improvement — which suggests an ability to repair damaged tissue and restore function,” said Craig Parker, president and chief executive officer of Surrozen. “Our goal is to file IND applications in 2021 and 2022 for novel antibodies targeting severe liver disease and moderate to severe inflammatory bowel disease, respectively. We believe that these two candidate molecules