SRZN - Surrozen stock rises ~13% premarket on licensing deal with Boehringer Ingelheim
- Surrozen ( NASDAQ: SRZN ) on Thursday said it had entered into a collaboration and licensing agreement with German pharmaceutical firm Boehringer Ingelheim for its antibody SZN-413 for the treatment of eye diseases.
- SRZN stock +12.5% to $2.43 in premarket trading.
- This is the first partnership that SRZN had entered for one of its compounds, the company said in a statement .
- As per the terms of the deal, SRZN will get an upfront payment of $12.5M from Boehringer.
- Boehringer will get an exclusive, worldwide license to develop SZN-413.
- SRZN will be eligible to get up to $586.5M in milestone payments and royalties on sales.
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Surrozen stock rises ~13% premarket on licensing deal with Boehringer Ingelheim