Zura: Licenses Autoimmune Therapy, $80M Private Placement

 

• Licensing a potential first-in-class, anti-IL-17 and anti-BAFF dual antagonist

• In connection with the transaction, Zura Bio announces pricing of $80 million private placement financing

Zura Bio Limited (Nasdaq: "ZURA") ("Zura" or "Zura Bio"), a multi-asset clinical-stage biotechnology company focused on developing novel medicines for immune and inflammatory disorders, today announced the license from Eli Lilly and Company ("Lilly") of tibulizumab, a potential first-in-class, anti-IL-17 and anti-BAFF dual antagonist. Following the closing, the compound will be known as ZB-106.

ZB-106 currently has clinical data from two Phase 1b studies completed in Rheumatoid Arthritis and Sjogren’s Syndrome. The safety profile to date appears to be acceptable, with no new findings relative to known IL-17 and BAFF inhibitors. Chronic toxicology studies have been completed with no adverse drug-related findings.

Zura plans to initiate a Phase 2 study for ZB-106 in Systemic Sclerosis in 2024 to be followed by a study in Hidradenitis Suppurativa.

https://finance.yahoo.com/news/zura-bio-announces-80-million-113900802.html