Surrozen Inks Strategic Partnership With Boehringer Ingelheim For Retinal Disease Candidate

Surrozen Inc SRZN entered into a collaboration and license agreement with Boehringer Ingelheim to research and develop SZN-413 for retinal diseases.
SZN-413 is a bi-specific antibody targeting Fzd4-mediated Wnt signaling designed using Surrozen's SWAP technology.
It is currently being developed for the treatment of retinal vascular-associated diseases.
In preclinical models of retinopathy, SZN-413 could potently stimulate Wnt signaling in the eye, induce normal retinal vessel regrowth, suppress pathological vessel growth, and reduce vascular leakage.
Also See: Surrozen's Q2 Earnings
Under the terms of the agreement, Boehringer Ingelheim will receive an exclusive, worldwide license to develop SZN-413 and other Fzd4-specific Wnt-modulating molecules for all purposes, including as a treatment for retinal diseases, for an upfront of $12.5 million.
Surrozen will also be eligible to receive up to $586.5 million in milestone payments.
After an initial joint research period, Boehringer Ingelheim will assume all development and commercial responsibilities.
Price Action: SRZN shares are up 9.40% at $2.36 on the last check Thursday.