Surrozen raises $95.1 million in final tranche of private placement
SRZN•Surrozen raised approximately $95.1 million in gross proceeds from the final tranche of its March 2025 private placement, after FDA clearance of its SZN-8141 investigational new drug application. The company said the proceeds extend its expected cash runway into 2029.
1. Final tranche closes
Surrozen closed the second and final tranche of its private placement, which included approximately 5.7 million common shares and pre-funded warrants exercisable for approximately 2.5 million shares. Series E warrants cover approximately 4.1 million shares at an exercise price of $11.54 per share. The closing milestone was triggered by FDA clearance of the SZN-8141 investigational new drug application on October 2, 2026.
2. Funding plans
Surrozen expects the proceeds to extend its cash runway into 2029, funding the SZN-8141 DUET Phase 1b/2a study and initial SZN-8143 Phase 1b development.
