Surrozen (SRZN) H.C. Wainwright 4th Annual BioConnect Investor Conference summary

Platform overview and therapeutic focus

• Focuses on Wnt pathway biology for tissue regeneration, especially in retinal vascular diseases.

• Developed antibody-based formats targeting Fzd4 and LRP receptors, optimized for intravitreal administration.

• Wnt pathway activation offers potential to regrow retinal vessels and address non-perfusion, differentiating from current VEGF therapies.

• Lead asset SZN-8141 combines Fzd4-targeted Wnt agonism with VEGF inhibition for additive therapeutic effects.

• Pipeline includes a tri-specific molecule adding IL-6 inhibition to address inflammatory retinal diseases.

Competitive landscape and differentiation

• Current VEGF therapies improve visual acuity but leave unmet needs in retinal drying and non-perfusion.

• SZN-8141 is differentiated by combining Wnt agonism and VEGF inhibition in one molecule, potentially offering greater potency and efficacy than competitors like Restoret.

• Tri-specific approach with IL-6 inhibition aims to further improve outcomes in diseases with inflammatory components.

• Preclinical data suggest synergistic effects when combining mechanisms in a single molecule, outperforming co-administration of separate antibodies.

Strategic partnerships and validation

• Strategic partnership with Boehringer Ingelheim for SZN-413, with positive IND-enabling toxicology and milestone payments.

• SZN-413 demonstrated preclinical success in retinal vessel regrowth and suppression of pathological vessels.

• Internal pipeline aims to match or exceed the efficacy profile of partnered assets by adding VEGF and IL-6 inhibition.

• Industry validation highlighted by Merck’s acquisition of EyeBio and ongoing clinical progress in the Wnt space.