TCG Crossover Fund II, L.P., TCG Crossover GP II, LLC, TCG Crossover Fund III, L.P. and TCG Crossover GP III, LLC disclosed purchases of common stock in Surrozen, Inc. (NASDAQ: SRZN) executed on March 23 and March 24, 2026. Together, these acquisitions totalled $3,012,767 and were completed at prices ranging from $24.6931 to $24.8999 per share.
Transaction detail shows activity across two days. On March 23, TCG Crossover Fund II, L.P. acquired 7,612 shares while TCG Crossover Fund III, L.P. bought 7,611 shares. The following day, March 24, both funds increased their positions further by purchasing 53,329 shares each.
After these purchases, reported holdings show TCG Crossover Fund II, L.P. with positions of 683,225 shares and 736,554 shares, and TCG Crossover Fund III, L.P. with holdings of 683,218 shares and 736,547 shares. The general partners of those funds are TCG Crossover GP II, LLC and TCG Crossover GP III, LLC, respectively. Chen Yu is identified as the sole managing member of both general partner entities and may be deemed to share voting, investment, and dispositive power over the securities.
Market context for the stock at the time of these filings included a quoted price of $26.14. InvestingPro data cited in the filings notes that SRZN has rallied 145% over the last 12 months and climbed 126% over the past six months. Analyst price targets referenced in the disclosure range from $36 to $42, though InvestingPro’s Fair Value analysis indicates the shares could be overvalued at current market levels.
Separately, Surrozen reported its fiscal year 2025 results. Broker commentary included Guggenheim reiterating a Buy rating with a $42.00 price target. Cantor Fitzgerald reiterated an Overweight rating with a $40.00 price target while updating its model after Surrozen’s fourth-quarter 2025 results. The disclosures also note that Cantor Fitzgerald initiated coverage on the company and emphasized Surrozen’s leadership in Wnt biology and progress in developing complex molecules for retinal diseases.
On the development front, Surrozen is advancing two lead Wnt agonist programs, SZN-8141 and SZN-8143, targeting retinal vascular diseases. The company indicated plans to file an Investigational New Drug application in the coming years for these assets.
Financials disclosed in the company filing show cash and equivalents of $81.3 million as of December 31, 2025.
The company also announced a change to its board of directors. Shao-Lee Lin, M.D., Ph.D., resigned from the board; the resignation was stated to be without disagreement with the company regarding its operations, policies, or practices. Surrozen has not announced a replacement for Dr. Lin.
These fund purchases and the surrounding analyst commentary provide a snapshot of investor and sell-side interest in Surrozen at a time when the company is balancing clinical development milestones and its cash runway. The filings also underscore the governance relationships among the funds and their general partners, with Chen Yu named as the sole managing member of both GP entities and potentially sharing authority over the reported securities.