---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-055196"
form_type: "8-K"
ticker: "ZURA"
cik: "0001855644"
company_name: "Zura Bio Ltd"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:38:48.498877+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Zura Bio raises ~$80M in private placement and licenses ZB‑106 bispecific antibody from Lilly

## Summary
- Private Placement: ~$80M gross proceeds at $4.25/share; first closing May 1, 2023 raised $16M; second closing of $64M subject to shareholder approval.
- Entered exclusive worldwide license from Eli Lilly for bispecific antibody ZB-106 targeting IL-17 and BAFF; upfront fee $15M (cash + 1M shares).
- Milestone payments up to $195M development + $440M sales; royalties mid-single to low-double digits based on net sales.
- Post-second-closing, Zura expects ~$120M cash, funding operations through 2026.
- Guggenheim Securities led placement; Chardan and Raymond James co-lead.

## SEC filing metadata
- accession: 0001104659-23-055196
- form_type: 8-K
- ticker: ZURA
- cik: 0001855644
- company_name: Zura Bio Ltd
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855644/000110465923055196/0001104659-23-055196-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855644/000110465923055196/tm2314291d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-055196
- JSON: https://secwatch.observer/filing/0001104659-23-055196.json
- Plain text: https://secwatch.observer/filing/0001104659-23-055196.txt

## Key facts
- Material Agreements
  Zura Bio Ltd entered into License, Development and Commercialization Agreement with Eli Lilly and Company valued at upfront fee of $15,000,000 (effective 2023-04-26).
  - Action: entry
  - Agreement: license
  - Counterparty: Eli Lilly and Company
  - Value: upfront fee of $15,000,000
  - Effective: 2023-04-26
  source text: Effective April 26, 2023, our subsidiary ZB17 LLC (“ZB17”) entered into a License, Development and Commercialization Agreement (the “License Agreement”) with Eli Lilly and Company (“Lilly”), pursuant to which Lilly granted to ZB17 an exclusive (even as to Lilly), payment-bearing license (the “Lilly License”) to develop, manufacture and commercialize a certain bispecific antibody relating to IL-17 and BAFF (“ZB-106”) in the field (meaning all uses including any and all human therapeutic, diagnosis, prevention, amelioration and prophylactic uses) worldwide.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855644/000110465923055196/0001104659-23-055196-index.htm
- Material Agreements
  Zura Bio Ltd entered into Subscription Agreements with certain individual and institutional accredited investors valued at approximately $80 million (effective 2023-04-26).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain individual and institutional accredited investors
  - Value: approximately $80 million
  - Effective: 2023-04-26
  source text: On April 26, 2023, Zura Bio Limited (the “Company” or “Zura”) entered into certain subscription agreements (the “Subscription Agreements”) with certain individual and institutional accredited investors (the “Subscribers”) in connection with the sale by the Company (the “Private Placement”) of Class A ordinary shares, par value $0.0001 per share (the “Shares”) and pre-funded warrants (the “Pre-Funded Warrants”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855644/000110465923055196/0001104659-23-055196-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.