SAN FRANCISCO, CA, Surrozen announced the successful completion of a $50 million Series B financing.
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Surrozen Inc., a company discovering and developing novel antibodies for regenerative medicine with a focus on specific control of the Wnt signaling pathway, today announced the successful completion of a $50 million Series B financing. The financing included, but was not limited to, new investors Horizons Ventures, Hartford HealthCare Endowment, and NS Investment. The Column Group, and other existing investors, participated as well.
Proceeds from the financing will be used to advance the Company's antibody discovery and development programs in liver disease, and to expand the Company's therapeutic platform into additional disease areas where Wnt modulation has therapeutic potential. Surrozen has developed two proprietary antibody platforms that can function as Wnt or R-spondin mimetics, respectively, in stimulating cell and organ-specific tissue regeneration.
"Since its founding in 2016, Surrozen has made significant advances in understanding the cell-specific effects of modulating Wnt signaling with bi-specific molecules," said Craig Parker, CEO of Surrozen. "With that understanding, we have developed two novel antibody-based technologies that have recently been validated in multiple disease models. The proceeds of the Series B financing will allow us to advance optimized drug candidates into development for advanced liver disease and one other disease area. Surrozen will also explore applications of the technology in multiple other disease areas."
Added Tim Kutzkey, PhD, Board Chairman and Managing Partner at The Column Group, "In launching Surrozen, we merged deep expertise and breakthrough discoveries by our Scientific Founders in the fields of Wnt biology, receptor-ligand structural biology, and protein engineering, driven by a mission to discover and develop novel, proprietary regenerative medicines with broad clinical utility. The Column Group is excited by the company's progress and continues to enthusiastically support Surrozen's growth and vision as it advances innovative programs into development."
Surrozen has also expanded its Board of Directors with the appointment of Anna Berkenblit, MD, as a Director. Dr. Berkenblit is currently Senior Vice President and Chief Medical Officer at Immunogen and has extensive experience in clinical development. Dr. Berkenblit was previously Senior Vice President, Clinical Development, at H3 Biomedicine, and Vice President, Head of Clinical Research, at AVEO Oncology. Prior to AVEO, Dr. Berkenblit held positions of increasing responsibility at Wyeth and then Pfizer, becoming Vice President, Neratinib Asset Team Leader in the Pfizer Oncology Business Unit. Dr. Berkenblit earned her medical doctorate from Harvard Medical School, and a master of science degree in the Clinical Investigator Training Program of Harvard/MIT Health Sciences & Technology. She completed her internship and residency at Brigham and Women's Hospital, then went on to a hematology/oncology fellowship at Beth Israel Deaconess Medical Center.
Surrozen Inc. is a biopharmaceutical company focused on harnessing the Wnt pathway for applications in regenerative medicine. Founded on breakthrough science from Stanford University and backed by The Column Group, Surrozen is implementing Wnt and R-spondin mimetic approaches with the potential to unlock stem cell control of regeneration in a wide array of human tissues. The Company is building a broad pipeline of selective Wnt pathway targeted antibodies that drive tissue regeneration, with the goal of addressing a variety of critical unmet medical needs. For more information, please visit surrozen.com.