Eli Lilly has licensed ZB-106 (Tibulizumab) to Zura, and in exchange, Zura will pay Eli Lilly $4.25 million in Class A Ordinary Shares as part of the upfront cash payment
Zura has also reported its agreement to sell ~18.8M Class A ordinary shares at $4.25 per share & a pre-funded warrant at $4.249 per pre-funded warrant to institutional investors in a private placement financing which is expected to result in ~$80M cash in gross proceeds to Zura
Currently, ZB-106 has clinical data from 2 P-Ib completed clinical trials that evaluated patients with Rheumatoid Arthritis & Sjogren’s Syndrome. Zura plans to initiate a P-II study evaluating ZB-106 in Systemic Sclerosis in 2024 & followed by a study in Hidradenitis Suppurativa
Ref: Bussinesswire | Image: Zura Bio
Related News:- Zura Bio to Go Public via JATT SPAC Merger for ~$215M
