secwatch.observer — SEC 8-K summary
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Issuer:     Zura Bio Ltd (ZURA)
CIK:        0001855644
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001104659-23-055196
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855644/000110465923055196/0001104659-23-055196-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855644/000110465923055196/tm2314291d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-055196

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer