Zura Bio Limited · NASDAQ:ZURA
Zura Bio — Investor Presentation (January 2026)
29 slides from Zura Bio's investor presentation, Jan 12, 2026
Slide 1: Corporate Overview
Corporate Overview January 12, 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: 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 an
Slide 4: Leadership Team and Board of Directors
©2026 Zura Bio Ltd. Leadership Team and Board of Directors 4 Amit Munshi Chairman Sandeep Kulkarni, MD Founder & Director Someit Sidhu, MD Founder & Director Dan Becker, MD, PhD Director Neil Graham, MBBS, MD, MPH Director Jennifer Jarrett Director Steve Schoch Director Robert Lisicki CEO and Direct
Slide 5: Increasing Clinical Evidence for B Cell–Related Pathways in HS
©2026 Zura Bio Ltd. Increasing Clinical Evidence for B Cell–Related Pathways in HS* 18 tibulizumab | ZB-106 (*) Data derived from a randomized, placebo-controlled, multi-arm hidradenitis suppurativa platform study (ClinicalTrials.gov Identifier: NCT03827798). Reported results are based on informatio
Slide 6: Two Ongoing Phase 2 Trials Targeting High-Unmet-Need Autoimmune Diseases
Sources: ClinicalTrials.gov ID NCT06993610; ClinicalTrials.gov ID NCT06843239. ©2026 Zura Bio Ltd. Acronyms: HS, hidradenitis suppurativa; SSc, systemic sclerosis. 5 Two Ongoing Phase 2 Trials Targeting High-Unmet-Need, Multi-Pathway Autoimmune Diseases Nasdaq: ZURA A Phase 2 trial in adults with HS
Slide 7: 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 Au
Slide 8: 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 9: Phase 1/1b Data Support Advancement into Phase 2
©2026 Zura Bio Ltd. Phase 1/1b Data Support Advancement of Tibulizumab into Phase 2 Development 8 78 participants dosed across Phase 1/1b studies >98% median trough target engagement for both IL-17 and BAFF in peripheral blood at 300 mg Q4W Monthly subcutaneous dosing supported by PK/PD profile Phar
Slide 10: BAFF: A Clinically Validated Immune Pathway
©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 11: IL-17A: A Clinically Validated Inflammatory Pathway
©2026 Zura Bio Ltd. IL-17A: A Clinically Validated Inflammatory Pathway 10 Notes: 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/s0140-673
Slide 12: Ixekizumab: A High Efficacy Clinical Benchmark for IL-17 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 clinical r
Slide 13: Tibulizumab Targets Two Potentially High-Value Autoimmune Market Opportunities
©2026 Zura Bio Ltd. Tibulizumab Targets Two Potentially High-Value Autoimmune Market Opportunities 12 Nasdaq: ZURA Note: Market estimates based on third-party analyses and published literature, including DRG/Clarivate, Evaluate Pharma, GlobalData, peer-reviewed epidemiology studies, and company anal
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; top line data anticipated in Q4 2026 Ti
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 Painful nodules and
Slide 16: A Dual-Pathway Approach to Hidradenitis Suppurativa
©2026 Zura Bio Ltd. A Dual-Pathway Approach to Hidradenitis Suppurativa 15 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 Heterogeneous
Slide 17: Neutrophils and B Cells Are Dominant Infiltrating Cells in HS Lesions
©2026 Zura Bio Ltd. Neutrophils and B Cells Are the Dominant Infiltrating Cells in HS Lesions 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; Macchiarel
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. (2023
Slide 19: Increasing Clinical Evidence for B Cell–Related Pathways in HS
©2026 Zura Bio Ltd. Increasing Clinical Evidence for B Cell–Related Pathways in HS* 18 tibulizumab | ZB-106 (*) Data derived from a randomized, placebo-controlled, multi-arm hidradenitis suppurativa platform study (ClinicalTrials.gov Identifier: NCT03827798). Reported results are based o
Slide 20: HS Landscape: Multiple Approved and Late-Stage Therapies
©2026 Zura Bio Ltd. HS Landscape: Multiple Approved and Late-Stage Therapies Highlight Ongoing Need for Differentiation 19 tibulizumab | ZB-106 Company Asset Tibulizumab (ZB-106) Adalimumab (Humira®) Secukinumab (Cosentyx®) Bimekizumab (Bimzelx®) Sonelokimab Remibrutinib Ianalumab (VAY736) Brivekimi
Slide 21: Phase 2 TibuSHIELD Trial Design in HS
©2026 Zura Bio Ltd. 20 (*) 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 Tibu
Slide 23: Systemic Sclerosis Is a Progressive, Multisystem Autoimmune Disease
©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 to Systemic Sclerosis
©2026 Zura Bio Ltd. A Dual-Pathway Approach to Systemic Sclerosis 23 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 comprehensively
Slide 25: IL-17A and BAFF/B Cells Contribute to Inflammation, Vasculopathy, and Fibrosis in SSc
©2026 Zura Bio Ltd. IL-17A and BAFF/B Cells Contribute to Inflammation, Vasculopathy, and Fibrosis in SSc Core Disease Features SSc is characterized by chronic inflammation, vasculopathy, and progressive fibrosis Infiltration of activated immune cells (macrophages, T cells, B cells) creates a persis
Slide 26: Targeting Interconnected Immune Pathways in SSc
©2026 Zura Bio Ltd. Targeting Interconnected Immune Pathways in SSc 25 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 Elevated autoantibody
Slide 27: Separately Inhibiting IL-17A or BAFF Has Shown Efficacy in SSc Trials
©2026 Zura Bio Ltd. Separately Inhibiting IL-17A or BAFF Has Shown Efficacy in Placebo-Controlled Trials for SSc 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), Arthritis &
Slide 28: Phase 2 Study in Diffuse Cutaneous Systemic Sclerosis
©2026 Zura Bio Ltd. 27 (*) 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: 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 28 Acronyms: BAFF, B cell activating fa