Surrozen, Inc.
surrozen.comWhat Do They Do?
Develops antibody-based medicines that modulate the Wnt pathway for eye diseases, including retinal conditions.
10-K for FY2025, filed Mar 23, 2026We are a biotechnology company committed to discovering and developing product candidates to selectively modulate the Wnt pathway, a…View ↗
Our lead product candidates are multi-specific, antibody-based therapeutics that mimic the roles of naturally occurring Wnt proteins, which…View ↗
We are developing SZN-8141 for the treatment of diabetic macular edema, or DME, and neovascular age-related macular degeneration, or wet…View ↗
We are developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema, or UME. SZN-8143 combines Fzd4 agonism, VEGF…View ↗
How Do They Make Money?
It earns fees for research services as the work progresses, receives collaboration payments when agreed milestones are reached, and may receive royalties if licensed products are sold. It also receives fees for licenses when those rights are transferred.
10-K for FY2025, filed Mar 23, 2026We had not generated any revenue prior to the execution of the CLA in October 2022. Under the terms of the CLA, Boehringer Ingelheim paid…View ↗
Research service revenue – related party relates to the amounts recognized for the research service performed in connection with TCGFB…View ↗
Licenses of Intellectual Property: If the license to the Company’s intellectual property is determined to be distinct from the other…View ↗
Services: Service fees are recognized over time based on progress toward complete satisfaction of the performance obligation. For each…View ↗
Milestone Payments: At contract inception, the Company uses the most likely amount method evaluates whether the milestones are considered…View ↗
Royalties: The Company recognizes sales-based royalties as revenue at the later of (i) when the related sales occur, or (ii) when the…View ↗
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10-K for FY2025, filed Mar 23, 2026
FY2025 revenue by product or service ↗
$3.5M
-
10-K for FY2025, filed Mar 23, 2026
$3.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Research service revenue
Recurring
10-K for FY2025, filed Mar 23, 2026 |
100% |
Research service revenue, FY2025
$3.5M Sources
|
Recurring |
|
Collaboration and license revenue
|
0.0% |
Collaboration and license revenue, FY2025
$0 Sources
|
Who Are Their Customers?
Boehringer Ingelheim licenses antibody candidates and funds their further development; TCGFB paid for antibody discovery services through a strategic research collaboration.
10-K for FY2025, filed Mar 23, 2026
Do Revenues Turn Into Profits?
No. It lost $242M in FY2025.
10-K for FY2025, filed Mar 23, 2026
−$42.1MView ↗
10-K for FY2025, filed Mar 23, 2026
−$242MView ↗
10-K for FY2025, filed Mar 23, 2026
−$30.3MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Aug 6, 2026
Boehringer Ingelheim started a Phase 1 study of SZN-413
The study triggered a development milestone under the license agreement.
Sources
8-K, filed Aug 6, 2026
In June 2026, Boehringer Ingelheim achieved a development milestone under the SZN-413 license agreement following the initiation of a Phase…View ↗
Focus narrows to eye diseases
The older report described Wnt drug candidates for diseases across many organs and tissues, including intestinal and liver diseases. The latest report centers its development efforts on ophthalmology and retinal conditions.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 23, 2026We are a biotechnology company committed to discovering and developing product candidates to selectively modulate the Wnt pathway, a…View ↗
We are developing SZN-8141 for the treatment of diabetic macular edema, or DME, and neovascular age-related macular degeneration, or wet…View ↗
We are developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema, or UME. SZN-8143 combines Fzd4 agonism, VEGF…View ↗
A liver-disease program was discontinued
The older report described a candidate in clinical development for severe alcoholic hepatitis; the latest report says development of that candidate was discontinued after early data did not support further investment.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 23, 2026We initiated a Phase 1 clinical trial in the second quarter of 2022 for SZN-043, our candidate in development for severe alcoholic…View ↗
In the first quarter of 2025, we discontinued development of SZN-043 in severe alcohol associated hepatitis. While in clinical trials…View ↗
Who Do They Compete With?
Competes with Roche, Regeneron, Novartis, Bayer, AbbVie, Boehringer Ingelheim, Amgen, Merck, Sanofi, Eli Lilly, and Samsung Bioepis
10-K for FY2025, filed Mar 23, 2026There are a number of large pharmaceutical and biotechnology companies that are currently pursuing the development of products for the…View ↗
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