Institutional filings show that TCG Crossover Fund II, L.P., TCG Crossover Fund III, L.P. and related entities purchased shares of Surrozen, Inc. (NASDAQ: SRZN) common stock in a sequence of transactions in March 2026. The trades, all identified with transaction code "P," totalled $1.2 million and were executed at prices ranging from $24.8769 to $24.9857 per share.
Transaction details in the filings specify the following activity by date and fund:
- On March 12, 2026, TCG Crossover Fund II, L.P. acquired 6,187 shares and TCG Crossover Fund III, L.P. acquired 6,187 shares.
- On March 13, 2026, TCG Crossover Fund II, L.P. acquired 17,717 shares and TCG Crossover Fund III, L.P. acquired 17,716 shares.
- On March 16, 2026, TCG Crossover Fund II, L.P. acquired 595 shares and TCG Crossover Fund III, L.P. acquired 595 shares.
The public filing identifies TCG Crossover GP II, LLC as the general partner of TCG Crossover Fund II, L.P., and TCG Crossover GP III, LLC as the general partner of TCG Crossover Fund III, L.P. Chen Yu is named as the sole managing member of both general partner entities, and the filing notes that Chen Yu "may be deemed to share voting, investment, and dispositive power" with respect to the securities reported.
In related corporate developments, Cantor Fitzgerald initiated coverage of Surrozen with an overweight rating and established a $40.00 price target. The broker cited Surrozen's position in Wnt biology and highlighted the company's foundational intellectual property and its work on complex molecules intended for retinal diseases. Cantor Fitzgerald's note specifically referenced multi-functional molecules that combine Wnt/VEGF and Wnt/VEGF/IL-6 modalities and described those programs as moving toward clinical trials.
The company also announced the immediate resignation of Dr. Shao-Lee Lin from its Board of Directors. Surrozen stated that Dr. Lin's departure was not the result of any disagreements concerning company operations or policies and expressed appreciation for her service on the board. The filing provided no information about any potential replacements or further board changes.
These disclosures — the coordinated purchases by funds tied to the same general partners, the initiation of analyst coverage with a positive rating and price target, and the board resignation with no disagreement reported — were presented in separate filings and statements. The filings supply the specific transaction dates, share counts, price range and the governance structure linking the funds to their general partners.
Clear summary: Two TCG Crossover funds and associated entities bought Surrozen common stock in a series of transactions in March 2026 totaling $1.2 million at prices between $24.8769 and $24.9857 per share. The filings name the general partners and note Chen Yu's potential shared authority. Separately, Cantor Fitzgerald initiated coverage with an overweight rating and a $40.00 price target, and Surrozen announced the immediate resignation of board member Dr. Shao-Lee Lin with no disagreement cited.