Surrozen, TCGFB announce strategic research collaboration

Surrozen (SRZN) announced a strategic research collaboration with privately-held TCGFB to discover antibody therapeutics targeting Transforming Growth Factor Beta for the potential treatment of patients with idiopathic pulmonary fibrosis, IPF. Under the terms of the agreement, Surrozen will provide antibody discovery services for a period of up to two years. TCGFB will own all TGF-beta product related intellectual property. In exchange for Surrozen’s research services, TCGFB will pay Surrozen up to $6 million in the aggregate, plus any third-party costs, and will issue Surrozen a warrant for up to 3,380,000 shares of TCGFB common stock at an exercise price of $0.0001 per share based on certain vesting conditions.