Finance Watch: Two SPAC Deals, Two IPOs Take Four Biopharmas Public

Surrozen Inc. is raising $212m in 2021 as it prepares to enter the clinic in 2022, going public through a merger with the special purpose acquisition corporation (SPAC) Consonance-HFW Acquisition Corp. Surrozen, which is focused on tissue repair and regeneration through selective activation of the Wnt pathway, will garner $92m held in trust by the SPAC when the merger closes and raise $120m from a concurrent private investment in public equity (PIPE) financing.

The Surrozen/Consonance-HFW merger announced on 15 April was the second SPAC merger unveiled by a preclinical biopharmaceutical company in two...