Zura Bio (ZURA) Corporate presentation summary

Pipeline and catalysts

• Tibulizumab is a tetravalent bispecific designed to inhibit BAFF and IL-17A/A and IL-17A/F signaling, combining two orthogonal immune pathways in one molecule.

• Phase 2 trials target hidradenitis suppurativa (HS), systemic sclerosis (SSc) and polymyalgia rheumatica (PMR); HS and SSc readouts are expected in Q4 2026 and H1 2027, respectively, and PMR initiation is anticipated by year-end 2026.

• HS and SSc trials are enrollment-complete and overenrolled; the PMR Phase 2 is planned for 150–180 participants.

• Crebankitug, an anti-IL-7Rα antibody, and torudokimab, an anti-IL-33 antibody, are Phase 2-ready pipeline assets.

Tibulizumab evidence

• Phase 1/1b studies dosed 78 participants; at 300 mg Q4W, median trough target engagement exceeded 98% for both IL-17 and BAFF, with a 27-day mean terminal half-life.

• Pharmacodynamic activity included B-cell and CRP reductions; multiple-dose cohorts had low treatment-emergent ADA incidence, and no new or unexpected safety signals were reported to date.

• Tibulizumab remains investigational; its safety and efficacy have not been established or approved by the FDA or another regulatory agency.

Hidradenitis suppurativa

• The HS Phase 2 TibuSHIELD enrolled 247 adults; primary endpoint is percent change in abscess and inflammatory nodule count at Week 16, with HiSCR, tunnel count, IHS4, quality of life and pain among additional measures.

• BAFF is elevated across HS lesion types and correlates with B-cell increases; higher baseline BAFF and B-cell counts are associated with lower likelihood of response to adalimumab.

• HS biologic market estimates project growth from ~$3B in 2026 to $10B by the mid-2030s, alongside rising biologic penetration and demand for deeper, more durable responses.