Surrozen (SRZN) H.C. Wainwright 27th Annual Global Investment Conference summary

Strategic landscape and scientific innovation

• Focus on early-stage opportunities in ophthalmology, targeting large patient populations with unmet needs.

• Utilizes bispecific antibodies to activate the Wnt pathway, previously considered undruggable, for retinal disease treatment.

• Holds broad intellectual property, with issued patents and multiple filings, positioning as a field innovator.

• Outlicensed an early asset to Boehringer Ingelheim, expected to enter clinical trials in 2024 or 2025.

• Notable industry activity includes Merck's $1.25B acquisition of a direct competitor and Roche's entry into the field.

Pipeline and clinical differentiation

• Lead candidates SCN-8141 and SCN-8143 combine Wnt activation with VEGF and IL-6 inhibition for enhanced efficacy.

• Preclinical data show normalization of retinal vessels and restoration of tight junctions, addressing underlying pathology.

• Next-generation molecules target both vessel leakage and inflammation, with SCN-8143 aimed at inflammatory-driven retinal diseases.

• First clinical entry for lead molecules planned for 2026, with potential for rapid progression based on competitor timelines.

• Agreement with Boehringer Ingelheim allows continued development of related molecules in different formats.

Preclinical results and market needs

• Mouse models demonstrate superior restoration of normal retinal vasculature compared to current therapies like Eylea.

• Data suggest potential for improved visual acuity and reduced injection frequency, addressing key unmet needs.

• Additional candidate targets front-of-eye diseases such as Fuchs endothelial dystrophy, showing reduced corneal thickness and improved clarity in models.

• Demonstrated preservation of photoreceptor and supportive retinal cells in models of dry AMD and geographic atrophy.

• Therapy could benefit patients not eligible for corneal transplant and those with limited options for dry AMD.