Surrozen (SRZN) Corporate presentation summary

Market opportunity and unmet need

• Retinal vascular diseases like DME and wet AMD affect over 40 million globally, with a projected anti-VEGF market CAGR of ~10% and sales expected to exceed $20B by 2030.

• Current therapies primarily inhibit VEGF but leave residual disease activity, highlighting the need for better drying agents, longer-lasting therapies, and new mechanisms.

• Recent launches, such as Vabysmo, validate the benefit of targeting multiple disease drivers, with rapid adoption and significant sales growth.

Scientific rationale and platform

• Wnt signaling is essential for retinal vascular integrity and barrier function, offering a complementary mechanism to VEGF inhibition.

• Genetic and preclinical evidence supports Wnt pathway targeting, with Wnt mimetics restoring vascular integrity and reducing leakage in retinal injury models.

• Clinical proof of concept for Wnt agonists has been established, showing outcomes comparable to anti-VEGF therapy in DME patients.

Pipeline and product candidates

• SZN-413 is a first-in-class FZD4/LRP5 bi-specific antibody activating Wnt signaling, licensed to Boehringer Ingelheim with $12.5M upfront and up to $586.5M in milestones.

• SZN-8141 combines Wnt activation and VEGF inhibition, demonstrating synergy and superior preclinical efficacy in reducing avascular and neovascular areas.

• SZN-8143 adds IL-6 inhibition to Wnt and VEGF mechanisms, aiming to further reduce vascular permeability and address additional retinal diseases.

• IND submission for SZN-8141 is anticipated in the second half of 2026.