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1. An early-stage biotech company aspiring to develop treatments for autoimmune diseases, much like AbbVie with its strong immunology franchise.

2. A clinical-stage biotech focused on autoimmune diseases, aspiring to achieve breakthrough success akin to Vertex Pharmaceuticals in cystic fibrosis.

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• ZB-106 (Tocilizumab Biosimilar): A biosimilar drug candidate for the treatment of autoimmune and inflammatory diseases.
• ZB-168 (Anti-IL-17 Receptor A mAb): An investigational monoclonal antibody targeting IL-17RA for various inflammatory and autoimmune conditions.
• ZB-061 (Oral NLRP3 Inhibitor): An investigational oral small molecule targeting the NLRP3 inflammasome for autoimmune and inflammatory diseases.

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Zura Bio (symbol: ZURA) is a clinical-stage immunology company focused on developing therapeutic assets for immune-mediated diseases. As a clinical-stage company, Zura Bio does not currently have any products approved for commercial sale and has not generated revenue from product sales.

Therefore, Zura Bio does not currently have "major customers" in the traditional sense, whether other companies or individuals, as it is still in the research and development phase. Its primary activities involve conducting clinical trials and advancing its drug candidates through various development stages, rather than selling commercially available products.

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• Catalent (CTLT)
• Curia

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Robert Lisicki, Chief Executive Officer

Robert Lisicki was appointed Chief Executive Officer and Director of the Board for Zura Bio Limited in April 2024. He brings nearly 30 years of experience in the biopharmaceutical industry. Mr. Lisicki previously served as President and Chief Operating Officer of Zura Bio. Before joining Zura Bio, he was Chief Commercial Officer at Arena Pharmaceuticals from October 2018 to March 2022, a company that was acquired by Pfizer for $6.7 billion in 2022. At Arena, he was responsible for building the global commercial infrastructure and contributed to mergers and acquisitions activities totaling nearly $8.0 billion. Prior to Arena, Mr. Lisicki served as Vice President and General Manager of Inflammation and Cardiovascular at Regeneron Pharmaceuticals. His career also includes senior leadership roles as CEO and Board Member at InCarda Therapeutics, Chief Commercial Officer at Daiichi Sankyo, Inc., and Vice President at Amgen, with initial experience in sales and marketing at The Janssen Pharmaceutical Companies of Johnson & Johnson.

Eric Hyllengren, Chief Financial Officer

Eric Hyllengren is set to become Zura Bio's Chief Financial Officer, effective July 7, 2025. He has over 20 years of financial leadership experience within the life sciences and biotechnology sectors. Most recently, he served as Chief Operating Officer and Chief Financial Officer at Atara Biotherapeutics, where his responsibilities included strategic finance, capital markets, operational planning, investor relations, and business development. Before Atara, Mr. Hyllengren spent 15 years at Amgen, holding various roles in corporate finance, investor relations, business development, and alliance management. Earlier in his career, he held finance positions at an entertainment startup, The Walt Disney Company, and AT&T.

Kim Davis, Chief Operating Officer, Chief Legal Officer

Kim Davis is the Chief Operating Officer and Chief Legal Officer at Zura Bio. She previously held the role of Chief Legal Officer & Secretary for the company. From 2020 until Pfizer acquired the company in September 2022, Ms. Davis served as Vice President, Deputy General Counsel, and Chief Compliance Officer at Arena Pharmaceuticals, Inc. Her experience also includes serving as Vice President and Chief Compliance Officer of Kaleo, Inc., from 2014 to 2020, and Vice President and Health Care Law & Compliance Officer of Impax Laboratories, Inc. (now Amneal Pharmaceuticals LLC) from 2011 to 2014.

Kiran Nistala, MBBS, PhD, Executive Vice President Development and Chief Medical Officer

Kiran Nistala was appointed Executive Vice President Development and Chief Medical Officer to Zura Bio's Executive Leadership Team in January 2024. Dr. Nistala is responsible for the development strategy of prioritized pipeline products. He has successfully worked on or led the development of multiple drugs within the auto-immune therapeutic area.

Gary Whale, PhD, Chief Technology Officer

Gary Whale serves as the Chief Technology Officer at Zura Bio.

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The rapid emergence and regulatory approval of new, highly effective biologic therapies for hidradenitis suppurativa (HS) that employ different mechanisms of action than Zura Bio's lead candidate, Zolbetralimab (IZR-108). Specifically, the recent approval and commercialization of Cosentyx (secukinumab) from Novartis (an IL-17A inhibitor) for HS, and the anticipated approval of Bimzelx (bimekizumab) from UCB (an IL-17A and IL-17F inhibitor) for HS, are establishing a significantly more competitive and evolving treatment landscape. These developments could challenge Zolbetralimab's market entry and potential market share in HS, necessitating Zura Bio to demonstrate superior efficacy, safety, or convenience to compete effectively against these established or soon-to-be-established therapies.

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1. Successful Clinical Development and Commercialization of Tibulizumab for Systemic Sclerosis (SSc): Tibulizumab is Zura Bio's lead product candidate and is currently undergoing a Phase 2 clinical trial (TibuSURE) for systemic sclerosis, a rare autoimmune disease. Topline data from this trial is anticipated in the fourth quarter of 2026. The successful development and eventual market approval and commercialization of tibulizumab for SSc would represent a significant revenue driver for the company, addressing a market with unmet medical needs.
2. Successful Clinical Development and Commercialization of Tibulizumab for Hidradenitis Suppurativa (HS): Another key driver is the successful progression and potential commercialization of tibulizumab for hidradenitis suppurativa. A global Phase 2 clinical study (TibuSHIELD) for moderate to severe HS was initiated in Q2 2025, with topline data expected in the third quarter of 2026. HS also represents a significant market opportunity within autoimmune disease treatments.
3. Advancement and Potential Commercialization of Other Pipeline Assets: Zura Bio's pipeline includes additional therapeutic candidates such as crebankitug and torudokimab. These assets have completed Phase 1/1b studies and are being evaluated for their potential in various immune-mediated diseases where dual inhibition of specific pathways may offer clinical benefits. Successful further development, regulatory approval, and eventual commercialization of these candidates would contribute to long-term revenue growth.
4. Strategic Partnerships and Licensing Agreements: As a clinical-stage company, Zura Bio could also generate future revenue through strategic partnerships, collaborations, and licensing agreements with larger pharmaceutical companies. These types of agreements can provide non-dilutive funding, milestone payments upon achieving certain development or regulatory goals, and royalties on future product sales, aiding in the advancement and commercialization of its product candidates.

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Share Issuance

• Zura Bio completed a business combination with JATT Acquisition Corp in March 2023, issuing approximately 16.06 million Class A Shares and 443,000 options.
• In April 2023, Zura Bio raised approximately $80 million in gross proceeds through a private placement, selling around 18.8 million Class A ordinary shares and pre-funded warrants.
• A private placement financing in April 2024 generated $112.5 million, contributing to the company's cash and cash equivalents.
• In August 2024, Zura Bio issued 3,235,184 ordinary shares in exchange for outstanding IPO warrants to streamline its capital structure.

Inbound Investments

• The business combination with JATT Acquisition Corp in March 2023 provided approximately $65 million in gross cash proceeds.
• A Post IPO funding round on April 18, 2024, raised $112 million, with participation from investors including Access Industries, RA Capital Management, and Deep Track Capital.

Outbound Investments

• Zura Bio licensed tibulizumab (ZB-106) from Eli Lilly and Company in April 2023; $27.2 million was related to this acquisition during 2023.

Capital Expenditures

• Research and development expenses, which constitute a significant portion of capital allocation, were $44.0 million in 2023 and $24.4 million in 2024.
• As of June 30, 2025, Zura Bio had $154.5 million in cash and cash equivalents, anticipated to fund planned operations and capital expenditure requirements through 2027.
• The company's property and equipment, net, was $106 thousand as of March 31, 2025, indicating minimal traditional capital expenditures on physical assets.