Business
Zura Bio Reports Second Quarter 2023 Financial Results and Recent Business Highlights
Focused on advancing ZB-106, a potential first-in-class anti-IL-17 and anti-BAFF dual antagonist for systemic sclerosis and hidradenitis suppurativa
About this update from Zura Bio Limited
[{"type":"text","content":"\n\nFocused on advancing ZB-106, a potential first-in-class anti-IL-17 and anti-BAFF dual antagonist for systemic sclerosis and hidradenitis suppurativa\n\n\n\nExperienced team building the next immunology leader \n\n\n\nCash and cash equivalents of $113 million support development and operations through 2026\n\n\n\n HENDERSON, Nev.--(BUSINESS WIRE)--\nZura Bio Limited (Nasdaq: ZURA) (“Zura Bio” or the “Company”), a multi-asset clinical-stage biotechnology company focused on developing novel medicines for immune and inflammatory disorders, today announced its financial results for the second quarter ended June 30, 2023, and recent business highlights.\n\n\n“Zura Bio made great progress in the first half of 2023, and we look forward to advancing our multi-asset pipeline which includes our lead asset, ZB-106, also known as tibulizumab. This is a Phase 2 ready dual antagonist of the IL-17 and BAFF pathways that will be explored in systemic sclerosis and hidradenitis suppurativa, where inhibition of both IL-17 and BAFF have independently shown clinical efficacy,” said Dr. Someit Sidhu, Chief Executive Officer of Zura Bio.\n\n\n“Our team is focused on progressing ZB-106 for systemic sclerosis, followed by clinical trials in hidradenitis suppurativa where there is clinical validation of both IL-17 and B-cell targeted therapies. Beyond ZB-106, we are very excited about the potential of ZB-168, an anti-IL-7Rα inhibitor that has the potential to impact diseases driven by IL-7 and TSLP biological pathways, and ZB-880, a fully human, high affinity monoclonal antibody that neutralizes IL-33.”\n\n\nSecond Quarter 2023 Business Highlights\n\n\n\nLicensed ZB-106 (tibulizumab), a potential first-in-class, anti-IL-17 and anti-BAFF dual antagonist from Eli Lilly and Company (Press Release, April 27, 2023)\n\n\n\nCompleted an approximate $80 million private placement led by Deep Track Capital, Great Point Partners, Suvretta Capital, and other leading life sciences-focused investors (Press Release, June 6, 2023)\n\n\n\nAppointed Michael D. Howell, Ph.D. to the role of Chief Scientific Officer and Head of Translational Science (Press Release, April 14, 2023)\n\n\n\nJoined the Russell 2000® and Russell 3000® Indexes (Press Release, June 23, 2023)\n\n\n\nSecond Quarter 2023 Financial Highlights\n\n\nCash and cash equivalents: Cash and cash equivalents...