Zura Bio Reports $80M Financing and Licensing of ZB-106 from Eli Lilly for Autoimmune Diseases
Shots:
- 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
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
