Surrozen initiated with a Buy at TD Cowen

TD Cowen analyst Phil Nadeau initiated coverage of Surrozen (SRZN) with a Buy rating and no price target The company is developing multifunctional antibodies that leverage Wnt activation for vascular retinopathies, the analyst tells investors in a research note. The firm believes Surrozen’s lead asset SZN-8141 addresses a $5B-plus opportunity in wet age-related macular degeneration and diabetic macular edema. TD expects Surrozen to create long-term shareholder value as its pipeline advances.