Zura Bio Limited · NASDAQ:ZURA
Zura Bio — Investor Presentation (July 2026)
31 slides from Zura Bio's investor presentation, Jul 1, 2026
Slide 1: Corporate Overview July 2026
Corporate Overview July 2026 Nasdaq Ticker: ZURA
Slide 2: Forward-looking statements disclaimer
©2026 Zura Bio Ltd. 2 Forward-looking statements disclaimer This presentation contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “antici
Slide 3: Zura Bio: advancing a differentiated approach for complex immune disorders
©2026 Zura Bio Ltd. Zura Bio: advancing a differentiated approach for complex immune disorders Our lead program, tibulizumab, is the first and currently only in-class bispecific antibody inhibiting both the IL-17 and BAFF pathways ▪ Fusion of components from tabalumab, a BAFF-binding antibody, and a
Slide 4: Executive Team and Board of Directors
©2026 Zura Bio Ltd. 4 Executive Team and Board of Directors Amit Munshi Chairman Sandeep Kulkarni, MD Co-Founder, CEO & Director Dan Becker, MD, PhD Director Mark Eisner, MD, MPH Director Jennifer Jarrett Director Ajay Nirula, MD, PhD Director Steve Schoch Director Parvinder Thiara Director Board of
Slide 5: Tibulizumab advancing clinically in high unmet need multi-pathway immune-mediated diseases
Sources: ClinicalTrials.gov ID NCT06993610; ClinicalTrials.gov ID NCT06843239. ©2026 Zura Bio Ltd. Acronyms: HS, hidradenitis suppurativa; SSc, systemic sclerosis. 5 Tibulizumab advancing clinically in high unmet need multi-pathway immune-mediated diseases Nasdaq: ZURA A Phase 2 trial in adults with
Slide 6: Limits of monotherapy in multi-pathway autoimmune disease
©2026 Zura Bio Ltd. Limits of monotherapy in multi-pathway autoimmune disease Acronyms: HS, hidradenitis suppurativa; SSc, systemic sclerosis. 6 Nasdaq: ZURA Implication: these limitations support therapeutic approaches designed to address more than one disease-driving pathway with a single agent ▪
Slide 7: Tibulizumab: a single-molecule dual-pathway approach
©2026 Zura Bio Ltd. Tibulizumab: a single-molecule dual-pathway approach Tibulizumab is an investigational agent. Its efficacy and safety have not been established or approved by the FDA or any regulatory agency worldwide. Sources: ClinicalTrials.gov ID NCT06993610; ClinicalTrials.gov ID NCT06843239
Slide 8: Phase 1/1b data support advancement of tibulizumab into Phase 2 development
©2026 Zura Bio Ltd. Phase 1/1b data support advancement of tibulizumab into Phase 2 development 8 Tibulizumab is an investigational agent. Its efficacy and safety have not been established or approved by the FDA or any regulatory agency worldwide. (*) Model-predicted median maximum percent change fr
Slide 9: BAFF: a clinically validated immune pathway central to B cell survival
©2026 Zura Bio Ltd. BAFF: a clinically validated immune pathway central to B cell survival 9 Sources: Vincent, F.B. et al. (2013), Cytokine & Growth Factor Reviews, DOI:10.1016/j.cytogfr.2013.04.003; Smulski, C.R. and Eibel, H. (2018), Frontiers in Immunology, DOI:10.3389/fimmu.2018.02285; Matsu
Slide 10: IL-17A: a clinically validated inflammatory pathway
©2026 Zura Bio Ltd. IL-17A: a clinically validated inflammatory pathway 10 The IL-17A-binding domain of tibulizumab is derived from ixekizumab. Sources: Gaffen, S.L. et al. (2014), Nature Reviews Immunology, DOI:10.1038/nri3707; Griffiths, C.E. et al. (2015), The Lancet, DOI:10.1016/s0140-6736(15)60
Slide 11: Ixekizumab: a high-efficacy clinical benchmark for IL-17 pathway inhibition
©2026 Zura Bio Ltd. Ixekizumab: a high-efficacy clinical benchmark for IL-17 pathway inhibition ▪ Consistent high efficacy: Demonstrated across multiple inflammatory diseases in large Phase 3 programs* ▪ Validated IL-17 pathway inhibition: Neutralization of IL-17A and IL-17A/F produces robust clinic
Slide 12: Tibulizumab is the first and only in-class bispecific antibody targeting IL-17 and BAFF
©2026 Zura Bio Ltd. 12 (*) Clinical studies have shown higher rates of mucocutaneous candidiasis with broader IL-17 pathway inhibition that includes IL-17F. Sources: Benschop, R.J. et al. (2019), mAbs, DOI:10.1080/19420862.2019.1624463; Adams, R. et al. (2020), Frontiers in Immunology, DOI:10.3389/f
Slide 13: Tibulizumab targets two potentially high-value autoimmune market opportunities
©2026 Zura Bio Ltd. Tibulizumab targets two potentially high-value autoimmune market opportunities 13 Nasdaq: ZURA Source: Market estimates based on third-party analyses and published literature, including DRG/Clarivate, Evaluate Pharma, GlobalData, peer-reviewed epidemiology studies, and company an
Slide 14: A dual-pathway approach in HS
©2026 Zura Bio Ltd. A dual-pathway approach in HS tibulizumab ZB-106 Anti-BAFF + IL-17 ▪ First and currently only in-class bispecific antibody designed to target BAFF and IL-17 signaling, including IL-17A and IL-17A/F ▪ Phase 2 clinical trial (TibuSHIELD) ongoing; topline data anticipated in Q4 2026
Slide 15: HS is a complex and relapsing disease
Nasdaq: ZURA | www.zurabio.com HS is a complex and relapsing disease ©2026 Zura Bio Ltd. The interplay of acute lesions, chronic inflammation, and complex immune drivers makes HS uniquely challenging, and highlights the opportunity for biology-driven solutions Patient experience ▪ HS affects ~1% of
Slide 16: A dual-pathway approach to hidradenitis suppurativa
©2026 Zura Bio Ltd. A dual-pathway approach to hidradenitis suppurativa 16 Targeting immune drivers of chronic inflammation and tissue damage Disease ▪ Chronic, inflammatory skin disease with recurrent painful lesions ▪ Significant impact on quality of life and long-term morbidity Biology ▪ Heteroge
Slide 17: Neutrophils and B cells represent orthogonal immune drivers in HS
©2026 Zura Bio Ltd. Neutrophils and B cells represent orthogonal immune drivers in HS Sources: Rumberger, B.E. et al. (2020), Inflammation Research, DOI:10.1007/s00011-020-01381-7; Sabat, R. et al. (2023), Journal of Allergy and Clinical Immunology, doi:10.1016/j.jaci.2022.10.034; Macchiarella, G. e
Slide 18: IL-17A– and B cell–associated pathways contribute to inflammation in HS
©2026 Zura Bio Ltd. IL-17A– and B cell–associated pathways contribute to inflammation in HS Sources: Novartis, AAD Annual Meeting 2024; ClinicalTrials.gov ID NCT03827798; Sabat, R. et al. (2023), Journal of Allergy and Clinical Immunology, DOI:10.1016/j.jaci.2022.10.034; Macchiarella, G. et al. (202
Slide 19: Increasing clinical evidence for B cell–related pathways in hidradenitis suppurativa
©2026 Zura Bio Ltd. Increasing clinical evidence for B cell–related pathways in hidradenitis suppurativa* 19 tibulizumab | ZB-106 (*) Data derived from a randomized, placebo-controlled, multi-arm hidradenitis suppurativa platform study (ClinicalTrials.gov Identifier: NCT03827798). Reported results a
Slide 20: HS landscape: multiple approved and late-stage therapies highlight ongoing need for differentiation
©2026 Zura Bio Ltd. HS landscape: multiple approved and late-stage therapies highlight ongoing need for differentiation 20 tibulizumab | ZB-106 Company Asset Tibulizumab (ZB-106) Adalimumab (Humira®) Secukinumab (Cosentyx®) Bimekizumab (Bimzelx®) Sonelokimab Remibrutinib Brivekimig (SAR444245) AVTX-
Slide 21: Phase 2 TibuSHIELD trial design and endpoints in HS
©2026 Zura Bio Ltd. 21 (*) Includes secondary and exploratory endpoints Acronyms: AN, abscess and inflammatory nodule; DLQI, Dermatology Life Quality Index; HiSCR50, Hidradenitis Suppurativa Clinical Response ≥50%; HiSCR75, Hidradenitis Suppurativa Clinical Response ≥75%; HS, hidradenitis suppurativ
Slide 22: A dual-pathway approach in SSc
©2026 Zura Bio Ltd. A dual-pathway approach in SSc tibulizumab ZB-106 Anti-BAFF + IL-17 ▪ First and currently only in-class bispecific antibody designed to target BAFF and IL-17 signaling, including IL-17A and IL-17A/F ▪ Phase 2 clinical trial (TibuSURE) ongoing; topline data anticipated in 1H 2027
Slide 23: Systemic sclerosis is a progressive, multisystem autoimmune disease with limited therapeutic options
©2026 Zura Bio Ltd. Systemic sclerosis is a progressive, multisystem autoimmune disease with limited therapeutic options* (*) Two therapies are approved for SSc-ILD; however, no treatment approved for SSc addresses multiple organ systems. Sources: Clarivate/DRG (accessed 19 August 2024); public regu
Slide 24: A dual-pathway approach in systemic sclerosis
©2026 Zura Bio Ltd. A dual-pathway approach in systemic sclerosis 24 Targeting immune drivers of autoimmunity, inflammation, and fibrosis Disease ▪ Severe, progressive, multisystem autoimmune disease ▪ Core features: inflammation, vasculopathy, and fibrosis ▪ No therapies are approved that comprehen
Slide 25: IL-17A and BAFF/B cells contribute to inflammation, vasculopathy, and fibrosis in systemic sclerosis
©2026 Zura Bio Ltd. IL-17A and BAFF/B cells contribute to inflammation, vasculopathy, and fibrosis in systemic sclerosis Core Disease Features ▪ SSc is characterized by chronic inflammation, vasculopathy, and progressive fibrosis ▪ Infiltration of activated immune cells (macrophages, T cells, B cell
Slide 26: Targeting interconnected immune pathways in systemic sclerosis
©2026 Zura Bio Ltd. Targeting interconnected immune pathways in systemic sclerosis 26 BAFF- and IL-17–driven inflammation may contribute to vasculopathy and fibrosis, supporting evaluation of multi-pathway therapeutic strategies in SSc ▪ BAFF signaling supports survival of autoreactive B cells ▪ Ele
Slide 27: Separately inhibiting IL-17A or BAFF has shown efficacy in placebo-controlled trials for systemic sclerosis
©2026 Zura Bio Ltd. Separately inhibiting IL-17A or BAFF has shown efficacy in placebo-controlled trials for systemic sclerosis Sources: Fukasawa, T. et al. (2022), Annals of the Rheumatic Diseases, doi:10.1136/annrheumdis-2022-eular.2519; ClinicalTrials.gov ID NCT03957681; Gordon, J.K. et al. (2018
Slide 28: Phase 2 study in diffuse cutaneous systemic sclerosis
©2026 Zura Bio Ltd. 28 (*) Includes secondary and exploratory endpoints Acronyms: CRISS, Combined Response Index in Systemic Sclerosis; FVC, forced vital capacity; HAQ-DI, Health Assessment Questionnaire Disability Index; HRCT, high-resolution computed tomography; ILD, interstitial lung disease; mRS
Slide 29: modified Rodnan Skin Score (mRSS): Endpoint for assessing skin thickness and fibrosis
©2026 Zura Bio Ltd. modified Rodnan Skin Score (mRSS): Endpoint for assessing skin thickness and fibrosis 29 Severe skin thickening and tightening restricts movement and causes painful ulcers on the hands and fingers, significantly impairing daily activities and quality of life. vs Fine Wrinkles (0/
Slide 30: In phase 2, lung involvement using qHRCT is a key secondary endpoint
©2026 Zura Bio Ltd. In phase 2, lung involvement using qHRCT is a key secondary endpoint 30 Sources: Goldin, J. et al. (2018), Annals of the American Thoracic Society, doi:10.1513/annalsats.201802-079OC; Zura Bio internal planning. Acronyms: ILD, interstitial lung disease; MMF, mycophenolate mofetil
Slide 31: Key takeaways
©2026 Zura Bio Ltd. Key takeaways Clear differentiation Tibulizumab is the first and currently only in-class bispecific antibody designed to simultaneously target BAFF and IL-17– mediated signaling, addressing immune complexity beyond single-pathway approaches 31 Acronyms: BAFF, B cell activating fa