ZURA News & Events

Zura Bio granted an inducement award consisting of an option to purchase up to 600,000 Class A Ordinary Shares to Muzammil Mustufa, the Company's new CBO. The award was approved by the Compensation Committee of the Company's Board of Directors and granted outside the Company's 2023 Equity Incentive Plan with a grant date of May 13, 2026, as an inducement material to Mr. Mustufa's employment, in accordance with Nasdaq Listing Rule 5635(c)(4). The award is subject to the terms and conditions and other provisions set forth in the Company's Plan and the award agreement thereunder. The Option has an exercise price of $4.80 per Class A Ordinary Share, which is equal to the closing price of Zura's Class A Ordinary Shares on May 13, 2026. The Option will vest over four years, with one fourth of the shares subject to the Option vesting on the one year anniversary of the vesting commencement date, and the remaining shares subject to the Option vesting in equal quarterly installments thereafter, subject to Mr. Mustufa's continuous service through each such vesting date.

Zura Bio announced the appointment of Muzammil Mustufa as Chief Business Officer. Mustufa will oversee corporate strategy, business development, commercial planning, and investor relations efforts. "We are thrilled to welcome Muz to Zura as we approach key clinical and corporate milestones for tibulizumab," said Sandeep Kulkarni, M.D., co-founder and Chief Executive Officer of Zura Bio. "He brings a rare combination of commercial, strategic, and financial acumen that will elevate and complement our leadership team's capabilities. Muz is the perfect fit for the company as we continue to explore tibulizumab's potential to redefine treatment across multiple autoimmune indications as well as pursue opportunities to further advance our mission."

"We entered the second quarter with a strengthened balance sheet and strengthened team, reflecting growing conviction in bispecific approaches and increased appreciation for IL-17 and BAFF biology" said Sandeep Kulkarni, M.D., Chief Executive Officer of Zura. "We believe we are well positioned-operationally, financially, and scientifically-as we approach anticipated tibulizumab readouts starting later this year."