Zura Bio (ZURA) Corporate presentation summary

Differentiated therapeutic approach

• Lead asset is tibulizumab, a first-in-class bispecific antibody inhibiting both IL-17 and BAFF pathways, designed to address complex autoimmune diseases inadequately treated by single-pathway therapies.

• Rational design fuses components from tabalumab (BAFF-binding) and ixekizumab (IL-17-binding), enabling dual modulation of B- and T-cell driven pathobiology.

• Phase 1/1b data show potent target engagement, low immunogenicity, and a safety profile consistent with known pathway inhibitors.

Clinical development and pipeline

• Two ongoing Phase 2 trials: TibuSHIELD in hidradenitis suppurativa (HS) with topline data expected Q4 2026, and TibuSURE in systemic sclerosis (SSc) with topline data expected 1H 2027.

• Both indications represent high unmet need and multi-billion-dollar market opportunities, with HS TAM projected at ~$8B and SSc at ~$4B by mid-2030s.

• Platform offers optionality for expansion into additional autoimmune indications.

Scientific rationale and competitive landscape

• Dual-pathway inhibition aims to overcome efficacy ceilings of monotherapies by targeting both B-cell (BAFF) and T-cell (IL-17) driven disease mechanisms.

• BAFF and IL-17A are clinically validated pathways, each implicated in chronic inflammation and autoimmunity; their inhibition has shown efficacy in prior trials.

• Tibulizumab is positioned as the only agent in development to simultaneously inhibit both pathways, differentiating it from approved and late-stage competitors.