Boehringer Ingelheim wants in on Wnt, and it’s willing to cash out the big bucks if it pans out.
The deal was announced by San Francisco’s Surrozen on Thursday morning, where the biotech will be licensing a candidate, SZN-413, to Boehringer for retinal diseases.
Per the deal, Boehringer gets an exclusive and worldwide license for not just the drug candidate, which is a bi-specific antibody targeting a receptor called Fzd4. But it also lands two additional backups, Surrozen CEO Craig Parker tells Endpoints News, in exchange for an upfront payment of $12.5 million. After a certain amount of undisclosed time working together, Boehringer Ingelheim will take on all development and commercial responsibilities.
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