Surrozen closes $95.1 million second tranche after FDA IND clearance for SZN-8141

Surrozen, Inc. announced on October 20, 2026 the closing of the second and final tranche of its March 2025 private placement of securities. The second closing generated approximately $95.1 million in gross proceeds, before deducting placement agent fees and other offering expenses, and followed the achievement of the second closing milestone under the Company's March 2025 securities purchase agreement, which was triggered by FDA clearance of the Company's Investigational New Drug (IND) application for SZN-8141 on October 2, 2026.¹

The second tranche included the issuance of approximately 5.7 million shares of common stock, pre-funded warrants exercisable for approximately 2.5 million shares of common stock, and Series E common stock warrants to purchase approximately 4.1 million shares of common stock, with an exercise price of $11.54 per share.¹ Following the closing, Surrozen has approximately 17.8 million shares of common stock outstanding, 3.8 million shares issuable upon exercise of pre-funded warrants, and 9.1 million shares issuable upon exercise of outstanding common stock warrants.¹

On the pipeline, CEO Craig Parker said the company is positioned to advance SZN-8141 into the DUET Phase 1b/2a study and initiate clinical development of SZN-8143, with expected cash runway into 2029¹. First patient dosing in the DUET study is expected in the fourth quarter of 2026, with initial data expected in the second half of 2027.¹ Part 2 of the trial is expected to evaluate two dose levels of SZN-8141 compared with Vabysmo (faricimab-svoa) in approximately 60 treatment-naïve patients with DME, with three monthly doses followed by a four-month follow-up period.¹

Surrozen expects its cash, cash equivalents and marketable securities to provide cash runway into 2029, including funding for completion of the DUET Phase 1b/2a study of SZN-8141 and initial Phase 1b clinical development of SZN-8143.¹ The company also expects to file a new Form S-3 registration statement to register resale of the newly issued shares and warrant shares, required no later than 30 calendar days following the second closing date.¹