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Finance Watch: Surrozen Raises $33m In $483m February Flurry; Also, Are Reverse Mergers This Year's IPOs?

 
• By Mandy Jackson

Surrozen raised $33m to fund drug development programs targeting Wnt ligands for various indications during a February VC financing flurry that occurred despite a drop in IPOs. Taking an alternative route to going public, some biopharma companies have completed reverse mergers in recent weeks and months.

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February was a busy month for significant venture capital financings, with $483m raised by 15 biopharmaceutical companies, including a $33m Series A round for start-up Surrozen Inc., which is developing drugs targeting Wnt ligands to promote the repair and regeneration of human tissues.

The Surrozen financing was in line with the February average of $32.2m per deal, according to Scrip's tally of VC rounds above $10m, which ranged from $17m to $74m; the...

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