SRZN

Planned IND submission for SZN-8141 in diabetic macular edema by the end of the third quarter of 2026 Expect to initiate SZN-8141 Phase 1b/2a study, DUET, by year-end 2026 with initial data anticipated in the second half of 2027 U.S. Patent Trial and Appeal Board denies institution of post-grant review petition challenging Surrozen patent SOUTH SAN FRANCISCO, Calif., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced financial results for the second quarter ended June 30, 2026 and provided a business update. “We continue to execute our strategy of building a leading ophthalmology franchise centered on the therapeutic potential of Wnt biology,” said Craig Parker, Chief Executive Officer of Surrozen. “The planned DUET Phase 1b/2a study represents an important step in the clinical development of SZN-8141 and reflects our commitment to generate meaningful evidence to guide future development across retinal vascular disease. In addition, the recent U.S. Patent Trial and Appeal Board (PTAB) decision denying the institution of Merck’s post-grant review petition reinforces our intellectual property position. Together, these advancements further strengthen the foundation of our ophthalmology franchise and support our long-term growth strategy.” Business Highlights, Recent Developments and Upcoming Milestones The Company continues to advance its ophthalmology pipeline (SZN-8141 and SZN-8143) and expects to submit an Investigational New Drug (IND) application for SZN-8141 by the end of the third quarter of 2026 and initiate the DUET Phase 1b/2a study in diabetic macular edema (DME) patients by year-end 2026 In June 2026, Boehringer Ingelheim achieved a development milestone under the SZN-413 license agreement following the initiation of a Phase 1 study In July 2026, the U.S. PTAB denied institution of Merck’s post-grant review petition challenging certain claims of Surrozen’s U.S. Patent No. 12,297,278, determining that the petition failed to show a reasonable likelihood of prevailing with respect to the challenged claims DUET: Phase 1b/2a Clinical Trial in Diabetic Macular EdemaSZN-8141 will be evaluated in a Phase 1b/2a clinical trial in DME called DUET, designed to assess safety, tolerability, and early signs of biological and clinical activity. The trial consists of an open-label Phase 1b single-ascending-dose portion enrolling both treatment-naïve and previously treated patients with DME (Part 1), followed by a randomized, double-masked Phase 2a dose-expansion portion in treatment-naïve patients with DME (Part 2). In Part 1, patients will receive a single intravitreal injection of SZN-8141 and be followed for approximately three months to evaluate safety and tolerability, as well as pharmacokinetics, immunogenicity, and exploratory measures of retinal function and anatomy including best-corrected visual acuity (BCVA), optical coherence tomography (OCT), OCT angiography (OCT-A), and ultra-widefield fluorescein angiography. Part 2 is expected to evaluate two dose levels of SZN-8141 compared with Vabysmo® (faricimab-svoa) in approximately 60 treatment-naïve patients with DME. Patients are planned to receive three monthly doses followed by an additional four-month follow-up period to assess durability of effect. Key outcome measures include the same functional and anatomic measurements as in Part 1. DUET is anticipated to initiate by year-end 2026, with initial data expected in the second half of 2027. The Company is also planning to develop SZN-8141 in neovascular age-related macular degeneration and is evaluating development in other retinal vascular diseases. Second Quarter 2026 Financial Highlights- Cash Position: Cash and cash equivalents were $102.0 million as of June 30, 2026, compared to $106.9 million as of March 31, 2026. - Revenue: Collaboration and License Revenue: Collaboration and license revenue was $5.0 million for the quarter ended June 30, 2026 attributable to the recognition of a milestone achieved under a collaboration and license agreement with Boehringer Ingelheim in June 2026. The Company did not have any collaboration and license revenue for the quarter ended June 30, 2025. Research Service Revenue – Related Party: Research service revenue from a related party was zero for the quarter ended June 30, 2026, compared to $1.0 million for the same period in 2025, driven by the termination of the research collaboration with TCGFB, Inc., effective in November 2025. - Operating Expenses: Research and Development Expenses: R&D expenses were $8.5 million for the quarter ended June 30, 2026, compared to $6.0 million for the same period in 2025, primarily reflecting a $1.7 million increase in manufacturing costs, lab expenses and consulting fees for our ophthalmology programs and a $1.0 million increase in employee-related expenses primarily related to stock-based compensation, offset by a $0.3 million decrease in clinical expenses as a result of the discontinuation of clinical development of SZN-043. General and Administrative Expenses: G&A expenses were $6.9 million for the quarter ended June 30, 2026, compared to $4.0 million for the same period in 2025, primarily due to a $1.5 million increase in employee-related expenses primarily related to stock-based compensation and a $1.3 million increase in professional service fees primarily related to the defense of our intellectual property portfolio. - Other Income and Expenses: Interest Income: Interest income was $0.9 million for the quarter ended June 30, 2026, compared to $1.0 million for the same period in 2025, as a result of a decrease in market interest rates on our money market funds. Gain on Change in Fair Value of Tranche Liability: Gain on change in fair value of tranche liability related to the 2025 PIPE was $39.2 million for the quarter ended June 30, 2026, compared to $31.5 million for the same period in 2025, attributable to the non-cash change in fair value of tranche liability, which was primarily driven by the decrease in our stock price over the period. Other Income, Net: Other income, net was $20.4 million for the quarter ended June 30, 2026, compared to $16.2 million for the same period in 2025, primarily driven by the non-cash change in fair value of warrant liabilities. - Net Income: Net income was $50.2 million, including non-cash gains of $59.6 million on changes in fair value of tranche liability and warrant liabilities, for the quarter ended June 30, 2026, compared to $39.7 million, including non-cash gains of $47.6 million on changes in fair value of tranche liability and warrant liabilities, for the same period in 2025. Surrozen’s Ophthalmology PortfolioAbout SZN-8141 for Retinal Diseases Surrozen is developing SZN-8141 for the treatment of diabetic macular edema (DME) and neovascular age-related macular degeneration (wet AMD). SZN-8141 combines Frizzled 4 (Fzd4) agonism and vascular endothelial growth factor (VEGF) antagonism and has the potential to provide benefits over treatment with single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, MK-3000, a Fzd4 monotherapy, has demonstrated proof of concept in DME in a clinical trial. We believe SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-8143 for Retinal Diseases Surrozen is developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema (UME). SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism and may have benefits over single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, MK-3000, a Fzd4 monotherapy, has demonstrated proof of concept in DME in a clinical trial. The Company believes SZN-8143 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. Partnership with Boehringer IngelheimSZN-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 diseases by Boehringer Ingelheim. Data generated by Surrozen with SZN-413 in preclinical models of retinopathy demonstrated that SZN-413 potently stimulated Wnt signaling in the eye, induced normal retinal vessel regrowth, suppressed pathological vessel growth and reduced vascular leakage. About SurrozenSurrozen is a biotechnology company, pioneering a new class of Wnt-based therapeutics designed to harness the power of Wnt signaling to treat sight-threatening ophthalmic conditions. Built on deep scientific expertise and a proprietary antibody-engineering platform, Surrozen develops multifunctional biologics that selectively activate Wnt signaling in combination with other key disease pathways. Our approach aims to deliver best-in-class, durable therapies that have the potential to transform patient outcomes in some of the most pressing unmet medical needs in ocular diseases. For more information, visit www.surrozen.com. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, such as the Company’s plan to initiate the DUET Phase 1b/2a study in DME patients by year-end 2026, the availability of data, such as initial data from the DUET study being anticipated in the second half of 2027, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates); Surrozen’s intention to submit an IND application for SZN-8141 by the end of the third quarter of 2026; and expectations regarding Surrozen’s partnership with Boehringer Ingelheim, including the potential for future success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2025, and Surrozen’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 to be filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Investor/Media Contact:Email: [email protected] (1) Derived from the audited consolidated financial statements, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

On track to submit an Investigational New Drug application for SZN-8141 to FDA in the second half of 2026 Well-capitalized with $106.9 million in cash and cash equivalents as of March 31, 2026 SOUTH SAN FRANCISCO, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced financial results for the first quarter ended March 31, 2026 and provided a business update. Business Highlights Surrozen remains focused on advancing a new generation of ophthalmology therapeutics that are built on a foundation of Wnt pathway biology. Surrozen’s pipeline leverages its Wnt biology expertise and antibody technologies to develop therapeutics targeting ophthalmic diseases with significant unmet medical needs. Recent Events and Upcoming 2026 Milestones Ophthalmology Pipeline The Company continues to progress its lead candidates, SZN-8141 and SZN-8143, in retinal diseases and remains on track to submit an Investigational New Drug (IND) application for SZN-8141 in the second half of 2026 Scientific Presentations Highlighting Next Generation Surrozen Wnt Therapeutics for Retinal Diseases The Company presented evidence of preclinical efficacy of our novel bi-functional antibody SZN-8141at its Poster Presentation during the Association for Research in Vision and Ophthalmology (2026 ARVO) in May 2026. By synergizing actions of Wnt activation and VEGF inhibition, SZN-8141 demonstrates superiority over monotherapies in preclinical models, suggesting the potential for improved outcomes compared to current therapies such as anti-VEGF standard of care. The Company presented an overview of next generation Wnt therapeutics in retinal disease at the Eyecelerator meeting at 2026 ARVO. In March 2026, Boehringer Ingelheim achieved a research milestone under the agreement for SZN-413, reflecting a positive outcome of the IND-enabling GLP toxicology study. The Company received a $5.0 million payment from Boehringer Ingelheim in April 2026. First Quarter 2026 Financial Highlights - Cash Position: Cash and cash equivalents were $106.9 million as of March 31, 2026, compared to $89.2 million as of December 31, 2025. - Revenue: Collaboration and License Revenue: Collaboration and license revenue was $5.0 million for the quarter ended March 31, 2026 attributable to the recognition of a milestone achieved under a collaboration and license agreement with Boehringer Ingelheim in March 2026. The Company did not have any collaboration and license revenue for the quarter ended March 31, 2025. Research Service Revenue – Related Party: Research service revenue from a related party was zero for the quarter ended March 31, 2026, compared to $1.0 million for the same period in 2025, driven by the termination of the research collaboration with TCGFB, Inc., effective in November 2025. - Operating Expenses: Research and Development Expenses: R&D expenses were $9.3 million for the quarter ended March 31, 2026, compared to $6.6 million for the same period in 2025, primarily reflecting a $2.4 million increase in manufacturing costs, lab expenses and consulting fees for our ophthalmology programs and a $1.2 million increase in employee-related expenses, offset by a $0.9 million decrease in clinical expenses as a result of the discontinuation of clinical development of SZN-043. General and Administrative Expenses: G&A expenses were $6.1 million for the quarter ended March 31, 2026, compared to $4.0 million for the same period in 2025, primarily due to a $1.1 million increase in employee-related expenses and a $1.0 million increase in professional service fees. - Other Income and Expenses: Interest Income: Interest income was $0.9 million for the quarter ended March 31, 2026, compared to $0.3 million for the same period in 2025, as a result of an increase in cash and cash equivalents. Loss on Amendment and Cancellation of Warrants: Loss on amendment and cancellation of warrants originally issued in a private placement in 2024 was $2.1 million for the quarter ended March 31, 2025, due to the non-cash change in fair value of warrant liabilities as a result of the amendment and cancellation of warrants in March 2025. There was no such corresponding loss for the quarter ended March 31, 2026. Loss on Execution of the 2025 PIPE: Loss on execution of the private placement in March 2025 (2025 PIPE) was $71.1 million for the quarter ended March 31, 2025, reflecting the non-cash loss recognized upon the initial execution of the 2025 PIPE as committed proceeds from the 2025 PIPE were less than the fair value of the tranche liability recognized at contract execution date. There was no such corresponding loss for the quarter ended March 31, 2026. Loss/Gain on Change in Fair Value of Tranche Liability: Loss on change in fair value of tranche liability related to the 2025 PIPE was $76.9 million for the quarter ended March 31, 2026, compared to a gain of $16.3 million for the same period in 2025, attributable to the non-cash change in fair value of tranche liability, which was primarily driven by the increase in our stock price. Gain on Settlement of Tranche Liability: Gain on settlement of tranche liability related to the 2025 PIPE was $1.1 million for the quarter ended March 31, 2025 related to the proceeds from the sale of securities in the 2025 PIPE being greater than the net value of securities issued on settlement date. There was no such corresponding gain for the quarter ended March 31, 2026. Other Expense/Income, Net: Other expense, net was $41.1 million for the quarter ended March 31, 2026, compared to a net other income of $38.0 million for the same period in 2025, primarily driven by a $81.7 million non-cash change in fair value of warrant liabilities, offset by $2.7 million financing transaction costs incurred in 2025 for the 2025 PIPE. - Net Loss: Net loss was $127.5 million, or ($11.65) per share for the quarter ended March 31, 2026, compared to a net loss of $27.0 million, or ($7.43) per share, for the same period in 2025. Surrozen’s Ophthalmology Portfolio About SZN-8141 for Retinal Diseases Surrozen is developing SZN-8141 for the treatment of diabetic macular edema (DME) and neovascular age-related macular degeneration (wet AMD). SRZN-8141 combines Frizzled 4 (Fzd4) agonism and vascular endothelial growth factor (VEGF) antagonism and has the potential to provide benefits over treatment with single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, MK-3000, a Fzd4 monotherapy, has demonstrated proof of concept in DME in clinical trials. We believe SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-8143 for Retinal Diseases Surrozen is developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema (UME). SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism and may have benefits over single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, MK-3000, a Fzd4 monotherapy, has demonstrated proof of concept in DME in clinical trials. The Company believes SZN-8143 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. Partnership with Boehringer Ingelheim 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 diseases by Boehringer Ingelheim. Data generated by Surrozen with SZN-413 in preclinical models of retinopathy demonstrated that SZN-413 potently stimulated Wnt signaling in the eye, induced normal retinal vessel regrowth, suppressed pathological vessel growth and reduced vascular leakage. Under the terms of the agreement, BI received 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, in exchange for an upfront payment to Surrozen of $12.5 million and up to $586.5 million in success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales. About Surrozen Surrozen is a biotechnology company, pioneering a new class of Wnt-based therapeutics designed to harness the power of Wnt signaling to treat sight-threatening ophthalmic conditions. Built on deep scientific expertise and a proprietary antibody-engineering platform, Surrozen develops multifunctional biologics that selectively activate Wnt signaling in combination with other key disease pathways. Our approach aims to deliver best-in-class, durable therapies that have the potential to transform patient outcomes in some of the most pressing unmet medical needs in ocular diseases. For more information, visit www.surrozen.com. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, the availability of data, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates); Surrozen’s intention to submit an IND application for SZN-8141 in 2026; and expectations regarding Surrozen’s partnership with Boehringer Ingelheim, including the potential for future success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2025, and Surrozen’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 to be filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Investor/Media Contact: Email: [email protected] (1) Derived from the audited consolidated financial statements, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Expect to submit an Investigational New Drug application for SZN-8141 to FDA in the second half of 2026 Scheduled to present retinal vascular research on SZN-8141 at the upcoming 2026 ARVO Annual Meeting Received notice of achievement of research milestone by Boehringer Ingelheim for SZN-413, triggering $5 million milestone payment Strengthened key leadership roles in 2025 to support long-term ophthalmology strategy SOUTH SAN FRANCISCO, Calif., March 23, 2026 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced financial results for the fourth quarter and full year 2025 and provided a business update. Business Highlights Surrozen remains focused on advancing a new generation of ophthalmology therapeutics that are built on a foundation of Wnt pathway biology. Surrozen’s pipeline leverages its Wnt biology expertise and antibody technologies to develop therapeutics targeting ophthalmic diseases with significant unmet medical needs. Recent Events and Upcoming 2026 Milestones Ophthalmology Pipeline Advancement: The Company continues to progress its lead candidates, SZN-8141 and SZN-8143, in retinal diseases and remains on track to submit an Investigational New Drug (IND) application for SZN-8141 in the second half of 2026 In March 2026, Boehringer Ingelheim achieved a research milestone under the agreement for SZN-413, reflecting a positive outcome of the IND-enabling GLP toxicology study. The research milestone entitles Surrozen to receive a $5.0 million payment from Boehringer Ingelheim. Scientific Presentations Highlighting Next Generation Surrozen Wnt Therapeutics for Retinal Diseases The Company presented an overview of Next Generation Wnt Therapeutics in Retinal Diseases at Eyecelerator (American Academy of Ophthalmology) Meeting and at the Ophthalmology Innovation Source (OIS) conference in fourth quarter 2025 The Company plans to present at the 2026 Association for Research in Vision and Ophthalmology (ARVO) Annual Meeting on May 4, 2026: Poster presentation titled “Wnt signaling activation synergizing with VEGF inhibition in preclinical models of retinal vascular disease” In 2025, the Company significantly strengthened its strategic leadership and ophthalmology expertise by forming a Clinical Advisory Board composed of retinal disease experts and appointing two industry veterans: Daniel Chao, M.D., Ph.D., as Vice President and Head of Clinical Development and Andrew Maleki as Chief Financial Officer. “2025 was a year of significant momentum as we progressed two lead product candidates in retinal vascular disease, advanced our platform for developing multifunctional biologic candidates that selectively activate Wnt signaling in combination with other key disease pathways and further strengthened our management team to drive our long-term growth strategy,” said Craig Parker, President and Chief Executive Officer of Surrozen. “2026 is an exciting year for us as we expect to submit an IND application for SZN-8141 in the second half of the year and continue our focus on developing therapeutics that address critical unmet needs in retinal diseases.” Fourth Quarter and Full Year 2025 Financial Highlights - Cash Position: Cash and cash equivalents were $89.2 million as of December 31, 2025, compared to $81.3 million as of September 30, 2025 and $34.6 million as of December 31, 2024. In addition, Surrozen received net proceeds of $26.9 million from sales of common stock under its at-the-market sales program in January 2026 and received $3.3 million from warrant exercises in February and March 2026. - Revenue: Collaboration and License Revenue: The company did not have any collaboration and license revenue during the year ended December 31, 2025, compared to $10.0 million in 2024, attributable to the recognition of a milestone achieved under a collaboration and license agreement with Boehringer Ingelheim International GmbH in September 2024. Research Service Revenue – Related Party: Research service revenue from a related party was $0.5 million and $3.5 million for the quarter and year ended December 31, 2025, compared to $0.7 million for the same periods in 2024, driven by the collaboration with TCGFB, Inc. for TGF-β antibodies research. The collaboration was terminated in November 2025. - Operating Expenses: Research and Development Expenses: R&D expenses were $9.0 million and $29.4 million for the quarter and year ended December 31, 2025, compared to $5.4 million and $21.1 million for the same periods in 2024, primarily reflecting the increase in manufacturing costs, lab expenses and consulting fees for our ophthalmology programs, offset by the decrease in clinical expenses as a result of the discontinuation of clinical development of SZN-043. General and Administrative Expenses: G&A expenses were $4.2 million and $16.2 million for the quarter and year ended December 31, 2025, compared to $3.9 million and $15.1 million for the same periods in 2024, primarily due to the increase in professional service fees. - Other Income and Expenses: Interest Income: Interest income was $0.8 million and $3.0 million for the quarter and year ended December 31, 2025, compared to $0.4 million and $1.7 million for the same periods in 2024, as a result of an increase in cash and cash equivalents. Loss on Issuance of Common Stock, Pre-funded Warrants and Warrants in the 2024 PIPE: The Company recorded a non-cash $20.4 million loss during the year ended December 31, 2024, due to the fair value of warrants issued being greater than the proceeds received in a private placement that was closed in April 2024. There was no such corresponding loss in 2025. Loss on Amendment and Cancellation of Warrants: Loss on amendment and cancellation of warrants originally issued in the 2024 PIPE was zero and $2.1 million for the quarter and year ended December 31, 2025, due to the non-cash change in fair value of warrant liabilities as a result of the amendment and cancellation of warrants in March 2025. Loss on Execution of the 2025 PIPE: Loss on execution of the 2025 PIPE was zero and $71.1 million for the quarter and year ended December 31, 2025, reflecting the non-cash loss recognized upon the initial execution of the private placement in March 2025 (2025 PIPE) as committed proceeds from the 2025 PIPE were less than the fair value of the tranche liability recognized at contract execution date. Loss on Change in Fair Value of Tranche Liability: Loss on change in fair value of tranche liability related to the 2025 PIPE was $112.0 million and $104.8 million for the quarter and year ended December 31, 2025, driven by the non-cash change in fair value of tranche liability, which was primarily driven by the increase in our stock price from the initial measurement date. Gain on Settlement of Tranche Liability: Gain on settlement of tranche liability related to the 2025 PIPE was $0.2 million and $1.4 million for the quarter and year ended December 31, 2025 related to the proceeds from the sale of securities in the 2025 PIPE being greater than the net value of securities issued on settlement date. Other Expense, Net: Other expense, net was $59.6 million and $26.3 million for the quarter and year ended December 31, 2025, compared to $19.8 million and $19.3 million for the same periods in 2024, primarily driven by the non-cash change in fair value of warrant liabilities. - Net Loss: Net loss was $183.2 million, or ($20.13) per share for the quarter and $242.0 million, or ($32.37) per share for the year ended December 31, 2025, compared to a net loss of $28.0 million, or ($8.62) per share and $63.6 million, or ($21.67) per share, for the same periods in 2024. Surrozen’s Ophthalmology Portfolio About SZN-8141 for Retinal Diseases Surrozen is developing SZN-8141 for the treatment of diabetic macular edema (DME) and neovascular age-related macular degeneration (wet AMD). SRZN-8141 combines Frizzled 4 (Fzd4) agonism and vascular endothelial growth factor (VEGF) antagonism and has the potential to provide benefits over treatment with single agents. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, MK-3000, a Fzd4 monotherapy, has demonstrated proof of concept in DME in clinical trials. We believe SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-8143 for Retinal Diseases Surrozen is developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema (UME). SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism and may have benefits over single agents. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, MK-3000, a Fzd4 monotherapy, has demonstrated proof of concept in DME in clinical trials. The Company believes SZN-8143 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. Partnership with Boehringer Ingelheim 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 diseases by Boehringer Ingelheim. Data generated by Surrozen with SZN-413 in preclinical models of retinopathy demonstrated that SZN-413 potently stimulated Wnt signaling in the eye, induced normal retinal vessel regrowth, suppressed pathological vessel growth and reduced vascular leakage. Under the terms of the agreement, BI received 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, in exchange for an upfront payment to Surrozen of $12.5 million and up to $586.5 million in success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales. About Surrozen Surrozen is a biotechnology company, pioneering a new class of Wnt-based therapeutics designed to harness the power of Wnt signaling to treat sight-threatening ophthalmic conditions. Built on deep scientific expertise and a proprietary antibody-engineering platform, Surrozen develops multifunctional biologics that selectively activate Wnt signaling in combination with other key disease pathways. Our approach aims to deliver best-in-class, durable therapies that have the potential to transform patient outcomes in some of the most pressing unmet medical needs in ocular diseases. For more information, visit www.surrozen.com. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, the availability of data, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates); Surrozen’s intention to submit an IND application for SZN-8141 in 2026; and expectations regarding Surrozen’s partnership with Boehringer Ingelheim, including the potential for future success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2025 to be filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Investor/Media Contact: Email: [email protected]

SOUTH SAN FRANCISCO, Calif., Nov. 07, 2025 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics that selectively modulate the Wnt pathway for tissue repair and regeneration, with a focus on severe eye diseases, today announced financial results for the third quarter ended September 30, 2025, and provided a business update. Business Highlights Surrozen remains focused on its ophthalmology pipeline, leveraging its Wnt biology expertise and antibody technologies to develop novel treatments for severe eye diseases. Key Third Quarter Events and Planned Fourth Quarter Scientific Meetings in 2025 Ophthalmology Pipeline: The Company continues to progress its lead candidates, SZN-8141 and SZN-8143 in retinal diseases and remains on track to submit an Investigational New Drug (IND) application for SZN-8141 in 2026 Scientific Presentations Highlighting Next Generation Surrozen Wnt Therapeutics for Retinal Diseases The Company’s Vice President of Clinical Development, Daniel Chao, M.D., Ph.D. presented an overview of Next Generation Wnt Therapeutics in Retinal Diseases at Eyecelerator (American Academy of Ophthalmology) Meeting on October 16, 2025 The Company is scheduled to present an overview of Next Generation Wnt Therapeutics in Retinal Diseases at the Ophthalmology Innovation Source (OIS) conference on November 22, 2025 Key Leadership Roles Strengthened to Support the Next Phase of Surrozen’s Growth, Expand Strategic Capabilities, and Bolster Surrozen’s Long-Term Success Chief Financial Officer: Andrew Maleki has joined the Surrozen management team as Chief Financial Officer (CFO). Mr. Maleki brings more than a decade of experience in the biotech industry spanning corporate strategy, business development and operational leadership, including playing a key role in raising over $500 million in capital. Most recently, he led corporate development and program leadership at Lassen Therapeutics, where he helped shape portfolio strategy and business development efforts. Prior to Lassen Therapeutics, Mr. Maleki held positions of increasing responsibility at Jazz Pharmaceuticals, where he led collaborations, licensing deals, and acquisitions across various therapeutic areas. Earlier in his career, he worked at PureTech Health and ClearView Healthcare Partners, where he developed a strong track record of guiding growth-stage biotechnology companies through critical inflection points. Mr. Maleki holds a B.A. in Biology and Economics with distinction from Yale University and an M.B.A. from Harvard Business School. Chief Operating Officer: Charles Williams, who has served in the dual role of Chief Operating Officer (COO) and CFO, will continue solely as COO. In this dedicated capacity, Mr. Williams will intensify his focus on strategic initiatives, corporate development and enterprise execution, working closely with the executive team to advance Surrozen’s corporate objectives and development programs. “We continue to make significant progress with our ophthalmology pipeline and to further strengthen the depth and breadth of our management team to drive enterprise-wide execution focused on long-term growth and success” said Craig Parker, President and Chief Executive Officer of Surrozen. “With the addition of Andrew Maleki to our strong leadership team, we are well positioned to advance our novel therapeutics toward clinical development while expanding our strategic capabilities and execution.” Third Quarter 2025 Financial Highlights - Cash Position: Cash and cash equivalents were $81.3 million as of September 30, 2025, compared to $90.4 million as of June 30, 2025. - Revenue: Collaboration and License Revenue: Collaboration and license revenue was zero for the quarter, compared to $10.0 million for the same period in 2024, attributable to the recognition of a milestone achieved under a collaboration and license agreement with Boehringer Ingelheim International GmbH in September 2024. Research Service Revenue – Related Party: Research service revenue from a related party was $1.0 million for the quarter, compared to zero for the same period in 2024, driven by the collaboration with TCGFB, Inc. for TGF-β antibodies. - Operating Expenses: Research and Development Expenses: R&D expenses were $7.8 million for the quarter, compared to $5.2 million for the same period in 2024, reflecting a $2.7 million increased in manufacturing costs, lab expenses and consulting fees for our ophthalmology programs, and a $0.6 million increase in employee-related expenses, offset by a $0.8 million decrease in clinical expenses as a result of the discontinuation of clinical development of SZN-043. General and Administrative Expenses: G&A expenses were $4.1 million for the quarter, compared to $3.6 million for the same period in 2024, due to the increase in professional service fees. - Other Income and Expenses: Interest Income: Interest income was $1.0 million for the quarter, compared to $0.4 million for the same period in 2024, as a result of an increase in cash and cash equivalents. Loss on Change in Fair Value of Tranche Liability: Loss on change in fair value of tranche liability was $40.7 million, compared to zero for the same period in 2024, driven by the non-cash change in fair value of tranche liability. Other Expense, Net: Other expense, net was $20.9 million, compared to $3.1 million for the same period in 2024, primarily driven by the non-cash change in fair value of warrant liabilities. - Net Loss: Net loss was $71.6 million, or ($8.36) per share for the quarter, compared to a net loss of $1.4 million, or ($0.44) per share, for the same period in 2024. Surrozen’s Ophthalmology Portfolio About SZN-8141 for retinal diseases SZN-8141 combines Frizzled 4 (Fzd4) agonism and Vascular Endothelial Growth Factor (VEGF) antagonism, which has the potential to provide benefits over treatment with single agents for Diabetic Macular Edema (DME) and neovascular Age-Related Macular Degeneration (wet AMD). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in DME in clinical trials. We believe SZN-8141 has the potential to treat multiple retinal vascular diseases and be differentiated from existing therapies. Data generated in preclinical models of retinal vascular diseases demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-8143 for retinal diseases SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism which may have benefits over single agents for treatment of DME/wet AMD/uveitic macular edema (UME). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in clinical trials for retinal disease. We believe SZN-8143 has the potential to treat multiple retinal vascular diseases and be differentiated from existing therapies. Data generated in preclinical models of retinal vascular diseases demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-413 for Retinal Diseases and Corporate Partnership with Boehringer Ingelheim 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 diseases through a strategic partnership (and agreement) with Boehringer Ingelheim (BI). Data generated by Surrozen with SZN-413 in preclinical models of retinopathy demonstrated that SZN-413 could potently stimulate Wnt signaling in the eye, induce normal retinal vessel regrowth, suppress pathological vessel growth and reduce vascular leakage. This novel approach could thus potentially allow for regeneration of healthy eye tissue, not only halting retinopathy, but possibly allowing for a full reversal of the patient’s disease. Under the terms of the agreement, Boehringer Ingelheim received 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, in exchange for an upfront payment to Surrozen of $12.5 million and up to $586.5 million in success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales. About Surrozen Surrozen is a biotechnology company, pioneering a new class of Wnt-based therapeutics designed to repair and restore tissue function, focused in ophthalmology. Built on deep scientific expertise and a proprietary antibody-engineering platform, Surrozen develops multifunctional biologics that selectively activate Wnt signaling — alone or in combination with other key disease pathways — to address serious ophthalmic diseases with high unmet medical need. Our approach aims to deliver best-in-class, durable therapies that have the potential to transform patient outcomes and create significant long-term value. For more information, visit www.surrozen.com. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, the availability of data, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates); Surrozen’s intention to submit an IND application for SZN-8141 in 2026; and expectations regarding Surrozen’s partnership with Boehringer Ingelheim, including the potential for future success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2024 filed, and Surrozen’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 to be filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Investor/Media Contact: Email: [email protected] (1) Derived from the audited consolidated financial statements, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

Daniel Chao, M.D., Ph.D., joins Surrozen as Vice President of Clinical Development Surrozen forms Clinical Advisory Board comprised of leading retinal specialists Data Presentations at Association for Research in Vision and Ophthalmology Annual Meeting and Clinical Trials at the Summit SOUTH SAN FRANCISCO, Calif., Aug. 08, 2025 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics that selectively modulate the Wnt pathway for tissue repair and regeneration, with a focus on severe eye diseases, today announced financial results for the second quarter ended June 30, 2025, and provided a business update. Business Highlights Surrozen remains focused on its ophthalmology pipeline, leveraging its Wnt biology expertise and antibody technologies to develop novel treatments for severe eye diseases. Key events in second quarter 2025 Ophthalmology Pipeline Progress: The company continues to progress its lead candidates, SZN-8141 and SZN-8143 to address retinal diseases. The company remains on track to submit an Investigational New Drug (IND) application for SZN-8141 in 2026. Patent Issuance: In May 2025, Surrozen was granted U.S. Patent No. 12,297,278 by the U.S. Patent and Trademark Office, covering its SWAP™ technology for creating multi-specific Wnt surrogate molecules. This patent strengthens the intellectual property supporting SZN-8141 and SZN-8143. Key Leadership Appointment: In July 2025, Surrozen appointed Daniel Chao, M.D., Ph.D., as Vice President and Head of Clinical Development. As an accomplished retina specialist and physician-scientist, Dr. Chao brings strong discovery and clinical development expertise in the field of ophthalmology to Surrozen, with over 15 years of experience in ophthalmic research and drug development. He previously held leadership roles at ADARx Pharmaceuticals and Johnson and Johnson, advancing multiple ophthalmology programs from discovery through late-stage development. Dr. Chao completed his MD and PhD in Neurosciences from Stanford University School of Medicine, ophthalmology residency at Bascom Palmer Eye Institute, and vitreoretinal surgery fellowship at University of California San Francisco. He began his career as a faculty member at UC San Diego and currently serves as a Volunteer Assistant Professor at UC San Francisco. Clinical Advisory Board Formation: Surrozen established a Clinical Advisory Board of leading ophthalmologists and retinal specialists to guide the clinical development of its ophthalmology pipeline [Click Here Link to Biographies]. The board’s expertise is expected to accelerate the progression of Surrozen’s candidates into clinical trials. Dr. Jeffrey Heier: Ophthalmic Consultants of Boston Dr. Arshad Khanani: Sierra Eye Associates, University of Reno, Nevada School of Medicine Dr. Carl Regillo: Wills Eye Hospital, Thomas Jefferson University School of Medicine Dr. Charles Wykoff: Retina Consultants of Texas Scientific Presentations: Surrozen presented preclinical data for SZN-8141 and SZN-8143 at the 2025 Association for Research in Vision and Ophthalmology (ARVO) Annual Meeting and the Clinical Trials Summit (CTS). These presentations highlighted the candidates’ ability to promote normal retinal vessel regrowth and suppress pathological vessel growth through Wnt signaling stimulation. ARVO Poster: SZN-8141, a Norrin mimetic and an anti-VEGF fusion molecule, as a novel candidate for retinopathy therapeutics; Sung-jin Lee, et. al [Click Here for Link] CTS Presentation: Wnt Mediated Retinal Vascular Repair and Regeneration 2.0; Craig Parker “We are encouraged by the continued momentum in our ophthalmology pipeline and the strategic steps we have taken to support their advancement,” said Craig Parker, President and Chief Executive Officer of Surrozen. “With the appointment of Dr. Daniel Chao, the formation of our Clinical Advisory Board and the issuance of a key patent supporting our multi-specific approach, we are well positioned to advance SZN-8141 and SZN-8143 toward clinical development and address critical unmet needs in retinal disease.” Second Quarter 2025 Financial Highlights - Cash Position: Cash and cash equivalents were $90.4 million as of June 30, 2025, compared to $101.6 million as of March 31, 2025. - Research Service Revenue – Related Party: Research service revenue from a related party was $1.0 million for the quarter, compared to zero for the same period in 2024, driven by the collaboration with TCGFB, Inc. for TGF-β antibodies. - Operating Expenses: Research and Development Expenses: R&D expenses were $6.0 million for the quarter, compared to $5.3 million for the same period in 2024, reflecting the increased manufacturing costs, lab expenses and consulting fees for our ophthalmology programs. General and Administrative Expenses: G&A expenses were $4.0 million for the quarter, compared to $3.7 million for the same period in 2024, due to the increase in professional service fees. - Other Income and Expenses: Interest Income: Interest income was $1.0 million for the quarter, compared to $0.5 million for the same period in 2024, as a result of an increase in cash and cash equivalents. Loss on Issuance of Common Stock, Pre-funded Warrants and Warrants in the 2024 PIPE: The amount was zero for the quarter, compared to $20.4 million for the same period in 2024, due to the fair value of warrants issued being greater than the proceeds received in a private placement that was closed in April 2024. Gain on Change in Fair Value of Tranche Liability: Gain on change in fair value of tranche liability was $31.5 million, compared to zero for the same period in 2024, driven by the non-cash change in fair value of tranche liability. Other Income, Net: Other income, net was $16.2 million, compared to $3.7 million for the same period in 2024. The variance is primarily attributable to a $11.0 million non-cash change in fair value of warrant liabilities and $1.5 million related to the transaction costs of the 2024 PIPE. - Net Income (Loss): Net income was $39.7 million, or $2.55 per share for the quarter, compared to a net loss of $25.3 million, or ($7.99) per share, for the same period in 2024. Surrozen’s Ophthalmology Portfolio About SZN-8141 for retinal diseases SZN-8141 combines Frizzled 4 (Fzd4) agonism and Vascular Endothelial Growth Factor (VEGF) antagonism, which has the potential to provide benefits over treatment with single agents for Diabetic Macular Edema (DME) and neovascular Age-Related Macular Degeneration (wet AMD). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in DME in clinical trials. We believe SZN-8141 has the potential to treat multiple retinal vascular diseases and be differentiated from existing therapies. Data generated in preclinical models of retinal vascular diseases demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-8143 for retinal diseases SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism which may have benefits over single agents for treatment of DME/wet AMD/uveitic macular edema (UME). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in clinical trials for retinal disease. We believe SZN-8143 has the potential to treat multiple retinal vascular diseases and be differentiated from existing therapies. Data generated in preclinical models of retinal vascular diseases demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About 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. Data generated by Surrozen with SZN-413 in preclinical models of retinopathy demonstrated that SZN-413 could potently stimulate Wnt signaling in the eye, induce normal retinal vessel regrowth, suppress pathological vessel growth and reduce vascular leakage. This novel approach could thus potentially allow for regeneration of healthy eye tissue, not only halting retinopathy, but possibly allowing for a full reversal of the patient’s disease. About Surrozen Surrozen is a biotechnology company developing tissue-specific antibodies to selectively modulate the Wnt pathway, with a current focus on ophthalmology. Its proprietary technologies aim to harness the body’s biological repair mechanisms to treat severe diseases. For more information, visit www.surrozen.com. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, the availability of data, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates). These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2024 filed, and Surrozen’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 to be filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Investor/Media Contact: Email: [email protected] (1) Derived from the audited consolidated financial statements, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

SOUTH SAN FRANCISCO, Calif., May 09, 2025 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics that selectively modulate the Wnt pathway for tissue repair and regeneration, with a focus on severe eye diseases, today announced financial results for the first quarter ended March 31, 2025, and provided a business update. Business Highlights Surrozen has pivoted its focus to its ophthalmology pipeline, leveraging its Wnt biology expertise and antibody technologies to develop novel treatments for severe eye diseases, including age-related macular degeneration (AMD) and diabetic retinopathy. The Company discontinued development of SZN-043 for the treatment of severe alcohol-associated hepatitis in the first quarter of 2025 due to insufficient clinical benefit in the Phase 1b trial. The Company has redirected resources to advance its lead ophthalmology candidates SZN-8141 and SZN-8143 toward clinical studies. SZN-8141 combines Frizzled 4 (Fzd4) agonism with VEGF antagonism, while SZN-8143 adds IL-6 antagonism, offering potential differentiation from existing therapies. Surrozen expects to file an Investigational New Drug (IND) application and commence clinical studies for SZN-8141 in 2026. The Food and Drug Administration clearance of this IND application would trigger funding of the $98.6 million private placement tranche which is expected to fund operations through efficacy, safety and tolerability studies for SZN-8141 and SZN-8143. The Company continues its collaboration with Boehringer Ingelheim on SZN-413 for retinal vascular-associated diseases. “We are thrilled about the opportunity to advance our novel ophthalmology pipeline which holds significant potential to address unmet needs in serious eye diseases,” said Craig Parker, President and Chief Executive Officer of Surrozen. “The strategic pivot to ophthalmology, supported by our recent $175 million financing, positions us to deliver innovative therapies that could transform patient outcomes in multiple severe and often disabling eye diseases. We remain committed to leveraging our proprietary Wnt pathway technologies to drive meaningful progress toward filing an Investigational New Drug application with the FDA for SZN-8141 while pre-clinically advancing multiple ophthalmology candidates.” First Quarter 2025 Financial Highlights - Cash Position: Cash and cash equivalents were $101.6 million as of March 31, 2025, compared to $34.6 million as of December 31, 2024, bolstered by $76.4 million in gross proceeds from the first closing of a $175 million private placement in March 2025. - Research Service Revenue – Related Party: Research service revenue from a related party was $1.0 million for the quarter, compared to zero for the same period in 2024, driven by the collaboration with TCGFB, Inc. for TGF-β antibodies. - Operating Expenses: Research and Development Expenses: R&D expenses were $6.6 million, compared to $5.2 million for the same period in 2024, reflecting the manufacturing costs of drug product for SZN-043 in January 2025 and increased consulting fees following the prioritization of ophthalmology programs. General and Administrative Expenses: G&A expenses were $4.0 million, comparable to $3.9 million for the same period in 2024. - Other Income and Expenses: Interest Income: Interest income was $0.3 million, comparable to $0.4 million for the same period in 2024. Loss on Amendment and Cancellation of Warrants: Loss on amendment and cancellation of warrants was $2.1 million due to the non-cash change in fair value of warrant liabilities as a result of the amendment and cancellation of warrants in March 2025. Loss on Execution of the 2025 PIPE: Loss on execution of the 2025 PIPE was $71.1 million, reflecting the non-cash loss recognized upon the execution of the private placement in March 2025 as the fair value of the tranche liability recognized was greater than the committed proceeds from the first tranche of the private placement. Gain on Change in Fair Value of Tranche Liability: Gain on change in fair value of tranche liability was $16.3 million, driven by the non-cash change in fair value of tranche liability. Gain on Settlement of Tranche Liability: Gain on settlement of tranche liability was $1.1 million related to the difference in fair value of tranche liability and the fair value of the issued units in excess of proceeds. Other Income (Expense), Net: Other income (expense), net was a net other income of $38.0 million, compared to a net other expense of $0.1 million for the same period in 2024. The variance is attributable to a $40.7 million non-cash change in fair value of warrant liabilities for all outstanding warrants, offset by the financing costs of $2.7 million. - Net Loss: Net loss was $27.0 million, or ($7.43) per share, compared to a net loss of $8.8 million, or ($4.24) per share, for the same period in 2024. About Surrozen’s Ophthalmology Portfolio About SZN-8141 for retinal diseases SZN-8141 combines Frizzled 4 (Fzd4) agonism and Vascular Endothelial Growth Factor (VEGF) antagonism, which has the potential to provide benefits over treatment with single agents for Diabetic Macular Edema (DME) and neovascular Age-Related Macular Degeneration (wet AMD). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in DME in clinical trials. We believe SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-8143 for retinal diseases SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism which may have benefits over single agents for treatment of DME/wet AMD/uveitic macular edema (UME). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in clinical trials for retinal disease. We believe SZN-8143 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About 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. Data generated by Surrozen with SZN-413 in preclinical models of retinopathy demonstrated that SZN-413 could potently stimulate Wnt signaling in the eye, induce normal retinal vessel regrowth, suppress pathological vessel growth and reduce vascular leakage. This novel approach could thus potentially allow for regeneration of healthy eye tissue, not only halting retinopathy, but possibly allowing for a full reversal of the patient’s disease. About Surrozen Surrozen is a biotechnology company developing tissue-specific antibodies to selectively modulate the Wnt pathway, with a current focus on ophthalmology. Its proprietary technologies aim to harness the body’s biological repair mechanisms to treat severe diseases. For more information, visit www.surrozen.com. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, the availability of data, the potential for such product candidates to be used to treat human disease or address unmet needs in serious eye diseases, as well as the potential benefits and potential differentiation from existing therapies of such product candidates), expectations regarding timing of an IND application and commencement of clinical studies for SZN-8141, triggering the funding of the second private placement tranche, expectations of the second private placement trance to fund operations through efficacy, safety and tolerability studies for SZN-8141 and SZN-8143, and the Company’s partnership with Boehringer Ingelheim. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for its product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2024 filed, and Surrozen’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 to be filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Investor/Media Contact: Email: [email protected] (1) Derived from the audited consolidated financial statements, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

SOUTH SAN FRANCISCO, Calif., March 31, 2025 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a company pioneering targeted therapeutics that selectively activate the Wnt pathway for tissue repair and regeneration, with a focus on severe eye diseases, today provided fourth quarter and full year 2024 financial results and business updates. Research and Development Pipeline Highlights The company prioritized its ophthalmology pipeline programs that have the potential to provide new or improved treatment options in multiple severe and disabling eye diseases. Surrozen will focus its Wnt biology expertise and Wnt signal modulation antibody technologies on its ophthalmology programs including development of new treatment options for retinopathies. Other Business Highlights The company also completed the first closing of a two-tranche financing of $175 in aggregate gross proceeds which funds multiple ophthalmology programs through Phase 1 safety, tolerability and efficacy studies. “In 2024, we continued to leverage our research capabilities and significant expertise in antibody engineering technologies focused on Wnt signal modulation. We received notification that Boehringer planned to further develop SZN-413 to advance the compound and prepare it for clinical testing, nominated a portfolio of novel preclinical ophthalmology candidates for severe eye diseases and completed a research collaboration with TCGFB to utilize Surrozen’s antibody developments capabilities and expertise to discover antibodies targeting TGF-β” said Craig Parker, President and Chief Executive Officer of Surrozen. “More recently, we were pleased to announce a private financing to advance our novel ophthalmology-focused pipeline toward the clinic” Financial Results for the Fourth Quarter and Full Year 2024 Cash Position: Cash and cash equivalents were $34.6 million as of December 31, 2024, compared to $31.0 million as of September 30, 2024, and $36.0 million as of December 31, 2023. In addition, Surrozen received gross proceeds of approximately $76.4 million upon closing of the financing in March 2025. Collaboration and License Revenue: Collaboration and license revenue for the fourth quarter and full year ended December 31, 2024 was zero and $10.0 million, respectively, as compared to zero for the same periods in 2023. The increase was due to the recognition of a milestone achieved under the collaboration and license agreement with BI in September 2024. Research Service Revenue – Related Party: Research service revenue – related party for the fourth quarter and full year ended December 31, 2024 was both $0.7 million, compared to zero for the same periods in 2023. The increase was related to the research service provided to TCGFB, Inc. in 2024 under the research collaboration agreement. Research and Development Expenses: Research and development expenses for the fourth quarter and full year ended December 31, 2024 were $5.4 million and $21.1 million, respectively, as compared to $6.1 million and $27.2 million for the same periods in 2023. The decrease was primarily due to the restructuring executed in 2023 to prioritize and focus our resources on clinical stage programs, as well as the discontinuation of the clinical development of SZN-1326. Research and development expenses include non-cash stock-based compensation expenses of $0.2 million and $1.2 million for the fourth quarter and full year ended December 31, 2024, as compared to $0.4 million and $1.3 million for the same periods in 2023. General and Administrative Expenses: General and administrative expenses for the fourth quarter and full year ended December 31, 2024 were $3.9 million and $15.1 million, respectively, as compared to $3.6 million and $15.8 million for the same periods in 2023. The variance was primarily due to the restructuring executed in 2023. General and administrative expenses include non-cash stock-based compensation expenses of $0.7 million and $2.9 million for the fourth quarter and full year ended December 31, 2024, as compared to $0.8 million and $3.1 million for the same periods in 2023. Restructuring: Restructuring charges for the fourth quarter and full year ended December 31, 2024 were both zero, as compared to $40,000 and $2.8 million for the same periods in 2023. The decrease was attributable to a restructuring plan implemented and completed in 2023. Interest Income: Interest income for the fourth quarter and full year ended December 31, 2024 was $0.4 million and $1.7 million, respectively, as compared to $0.5 million and $2.3 million for the same periods in 2023. The decrease was primarily related to the decrease in our cash and cash equivalents. Loss on Issuance of Common Stock, Pre-Funded Warrants and Warrants: Loss on issuance of common stock, pre-funded warrants and warrants for the fourth quarter and full year ended December 31, 2024 was zero and $20.4 million, respectively, as compared to zero for the same periods in 2023. The increase was due to the fair value of pre-funded warrants and warrants issued greater than the proceeds received in a private placement closed in April 2024. Other (Expense) Income, Net: Other (expense) income, net for the fourth quarter and full year ended December 31, 2024 was a net other expense of $19.8 million and $19.3 million, respectively, as compared to a net other income of $0.3 million and $0.4 million for the same periods in 2023. The variance was primarily related to the non-cash change in fair value of warrant liabilities. Net Loss: Net loss for the fourth quarter and full year ended December 31, 2024 was $28.0 million and $63.6 million, respectively, as compared to $8.9 million and $43.0 million for the same periods in 2023. About Ophthalmology Portfolio About SZN-8141 for retinal diseases SZN-8141 combines Frizzled 4 (Fzd4) agonism and Vascular Endothelial Growth Factor (VEGF) antagonism which has the potential to provide benefits over treatment with single agents for Diabetic Macular Edema (DME) and neovascular Age Related Macular Degeneration (wet AMD). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in clinical trials. We believe SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About SZN-8143 for retinal diseases SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6 (IL-6) antagonism which may have benefits over single agents for treatment of DME/wet AMD/uveitic macular edema (UME). The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF monotherapies. In addition, Fzd4 monotherapy has demonstrated proof of concept in clinical trials. We believe SZN-8143 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8143 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth. About 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. Data generated by Surrozen with SZN-413 in preclinical models of retinopathy demonstrated that SZN-413 could potently stimulate Wnt signaling in the eye, induce normal retinal vessel regrowth, suppress pathological vessel growth and reduce vascular leakage. This novel approach could thus potentially allow for regeneration of healthy eye tissue, not only halting retinopathy, but possibly allowing for a full reversal of the patient’s disease. About Surrozen Surrozen is a biotechnology company discovering and developing drug candidates to selectively modulate the Wnt pathway. Surrozen is developing tissue-specific antibodies designed to engage the body’s existing biological repair mechanisms with a current focus in ophthalmology. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “will,” “plan,” “intend,” “potential,” “expect,” “could,” or the negative of these words and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Surrozen’s discovery, research and development activities, in particular its development plans for its product candidates (including anticipated clinical development plans and timelines, the availability of data, the potential for such product candidates to be used to treat human disease, as well as the potential benefits of such product candidates), the Company’s partnership with Boehringer Ingelheim, including the potential for future success-based development, regulatory, and commercial milestone payments, in addition to mid-single digit to low-double digit royalties on sales and the potential of TGF-β to be a novel, first-in-class therapeutic to treat the pathology of Idiopathic Pulmonary Fibrosis. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Surrozen and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Surrozen. These forward-looking statements are subject to a number of risks and uncertainties, including the initiation, cost, timing, progress and results of research and development activities, preclinical and clinical trials with respect to its product candidates and potential future drug candidates; the Company’s ability to fund its preclinical and clinical trials and development efforts, whether with existing funds or through additional fundraising; Surrozen’s ability to identify, develop and commercialize drug candidates; Surrozen’s ability to successfully complete preclinical and clinical studies for Sits product candidates; the effects that arise from volatility in global economic, political, regulatory and market conditions; and all other factors discussed in Surrozen’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents Surrozen has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Surrozen presently does not know, or that Surrozen currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Surrozen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Surrozen anticipates that subsequent events and developments will cause its assessments to change. However, while Surrozen may elect to update these forward-looking statements at some point in the future, Surrozen specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Surrozen’s assessments of any date after the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Investor/Media Contact: Email: [email protected]