Crosstalk (biology)

Surrozen Announces up to $192.5 Million Private Placement of Securities Priced At-the-Market Under Nasdaq Rules

Retrieved on: 
Monday, April 1, 2024
Regeneration, Exercise, Exchange, Patient, SAN, Column, Sale, Mortality, LLP, Public expenditure, Security (finance), Cooley LLP, Guggenheim Partners, Crosstalk (biology), P.C, Therapy

SOUTH SAN FRANCISCO, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN, SRZNW), a company pioneering targeted therapeutics that selectively activate the Wnt Pathway for tissue repair and regeneration, today announced that it has entered into securities purchase agreements with certain institutional and accredited investors to purchase shares of common stock, pre-funded warrants and accompanying warrants to purchase shares of common stock. If the warrants to purchase common stock are exercised in full, the private placement would provide approximately $192.5 million in gross proceeds and result in the issuance of approximately 12.2 million shares of common stock. The private placement was priced “at-the-market” under the rules and regulations of The Nasdaq Stock Market LLC. The private placement is expected to close on or about April 4, 2024, subject to customary closing conditions.

Key Points: 
  • If the warrants to purchase common stock are exercised in full, the private placement would provide approximately $192.5 million in gross proceeds and result in the issuance of approximately 12.2 million shares of common stock.
  • The private placement was priced “at-the-market” under the rules and regulations of The Nasdaq Stock Market LLC.
  • The private placement is expected to close on or about April 4, 2024, subject to customary closing conditions.
  • Guggenheim Securities, LLC is acting as sole placement agent for the private placement and is being advised by Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C.

Surrozen Announces Safety, Pharmacodynamic and Liver Function Data for SZN-043

Retrieved on: 
Monday, April 1, 2024
MELD, Metabolism, Regeneration, Dicarboxylic acid, Survival, Liver disease, PD, Safety, Patient, History, Alkaline phosphatase, CYP1A2, Crosstalk (biology), ASGR1, Pharmacokinetics, Therapy, ALP, Pharmaceutical industry

SOUTH SAN FRANCISCO, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a company pioneering targeted therapeutics that selectively activate the Wnt Pathway for tissue repair and regeneration, today provided an update on the Phase 1a clinical trial of SZN-043 in healthy volunteers and patients with cirrhosis.   The Phase 1a study was completed in February 2024. SZN-043 demonstrated acceptable safety and tolerability in all subjects, with evidence of target engagement, Wnt signal activation and effects on liver function.   The observed safety and pharmacodynamic activity were the basis for the Company’s previous announcement that it planned to initiate enrollment in the Phase 1b study in alcohol-associated hepatitis.

Key Points: 
  • SZN-043 demonstrated acceptable safety and tolerability in all subjects, with evidence of target engagement, Wnt signal activation and effects on liver function.
  • The observed safety and pharmacodynamic activity were the basis for the Company’s previous announcement that it planned to initiate enrollment in the Phase 1b study in alcohol-associated hepatitis.
  • The randomized, placebo-controlled Phase 1a trial enrolled a total of 48 subjects, including 40 healthy volunteers and 8 patients with cirrhosis and a history of liver disease.
  • Cirrhotic patients also showed evidence of liver function effects after treatment with SZN-043 as measured by HepQuant which is a test that measures cholate clearance, a liver specific function that quantifies liver function.

Surrozen Provides Corporate Update on Clinical Programs

Retrieved on: 
Thursday, January 18, 2024
Patient, Chronic liver disease, Tissue, IBD, Inflammatory bowel disease, Safety, Crosstalk (biology), Therapy, Regeneration, Boehringer Ingelheim, Clinical trial, Pharmaceutical industry

SOUTH SAN FRANCISCO, Calif., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a company pioneering targeted therapeutics that selectively activate the Wnt Pathway for tissue repair and regeneration, today announced that enrollment for the SZN-043 Phase 1a clinical trial in patients with chronic liver disease and healthy volunteers is complete. The Company expects to release safety and pharmacodynamic data in Q1 2024. In addition, Surrozen anticipates initiating enrollment in the Phase 1b portion of the study in patients with alcohol-associated hepatitis soon with proof-of-concept data from the study potentially available in the second half of 2024.

Key Points: 
  • In addition, Surrozen anticipates initiating enrollment in the Phase 1b portion of the study in patients with alcohol-associated hepatitis soon with proof-of-concept data from the study potentially available in the second half of 2024.
  • Following the completion of the Phase 1 single ascending dose clinical trial for SZN-1326, the Company will discontinue development of SZN-1326 in inflammatory bowel disease (IBD).
  • The decision was based on the challenges of identifying a safe and potentially effective dose along with strategic considerations including the significant clinical development expenses and market competition in IBD.
  • SZN-1326 has been evaluated in a Phase 1 single ascending dose clinical trial in 37 healthy volunteers in doses ranging from 0.01mg to 25mg.