11:23 AM
 | 
Mar 14, 2019
 |  BC Extra  |  Financial News

TCG again backs Surrozen in $50M series B

Regenerative medicine company Surrozen raised a $50 Million series B round to move its optimized Wnt signaling mimetics into IND-enabling studies for an advanced liver disease yet to be determined.

Surrozen Inc. (South San Francisco, Calif.) raised $33 million in a series A in 2017 led by The Column Group, which has returned for the series B along with undisclosed individual existing investors. New investors include Horizons Ventures, Hartford HealthCare Endowment and NS Investment.

Surrozen CEO Craig Parker told BioCentury that beyond advancing its liver disease programs, the new money will support an expansion into other areas such as kidney, lung or retinal diseases with its WNT and RSPO mimetic antibodies.

Parker said the company plans to nominate a lead candidate this year, which would put it on track to enter the clinic in 2021. He added Surrozen will probably need to raise additional funding at that point to support clinical development, depending on the progress of its other programs.

Surrozen previously tested proof-of-concept regenerative therapies for bone diseases but Parker said the company would not pursue those indications clinically (see “Selective Regeneration”).

In conjunction with the B round, Surrozen appointed Anna Berkenblit to its board. Berkenblit brings clinical development experience from ImmunoGen Inc. (NASDAQ:IMGN), where she has been SVP and CMO since 2015.

Parker did not disclose whether the round was tranched.

Targets: RSPO - R-Spondin; WNT - Wingless-type MMTV integration site family

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