Full Press Release Details
JATT Acquisition Corp's Proposed Business
Combination with Zura Bio Limited declared effective by US SEC
Record date of Feb 26th 2023 established as well as;
Extraordinary general meeting of shareholders to approve the Business Combination set for March 16th 2023
London, England - March 2nd 2023.
JATT Acquisition Corp (NYSE: "JATT"),
the publicly traded special purpose acquisition company ("SPAC"), has today announced that the U.S. Securities and Exchange
Commission ("SEC") has declared its registration statement on Form S-4 pertaining to the proposed business combination with
Zura Bio Limited ("Zura," "Zura Bio," or "the Company") as effective.
Zura is a UK based multi-asset clinical-stage
biotechnology company focused on developing novel medicines for immune and inflammatory disorders. JATT founder and CEO Dr. Someit Sidhu
will become Zura's CEO and Dr. Preston Klassen will be President upon closing of the business combination.
JATT established a record date of February 16,
2023 (the "Record Date") and a meeting date of March 16, 2023 for an extraordinary general meeting of its shareholders (the
"Special Meeting") to approve the Business Combination, and has filed its definitive proxy statement/prospectus relating to
the Special Meeting with the SEC. The definitive proxy statement/prospectus is available at www.sec.gov.
The proceeds from the deal are anticipated to
offer Zura Bio the capital required to progress the development of two assets, ZB-168 and torudokimab. In-licensed from Pfizer, ZB-168
is a fully-human, clinical-stage antibody that acts on IL7R , demonstrating significant reduction in T effector cell populations
and highly potent inhibition of the alarmin, Thymic Stromal Lymphopoietin (TSLP). In-licensed from Lilly, torudokimab is a fully-human,
clinical stage antibody that binds to the IL-33 ligand, thereby inhibiting its ability to drive Th2 response cytokines and the activation
of associated cell types, including mast cells and eosinophils. Both assets have been tested in patients with at least 12 weeks of therapy
and were found to have a favorable safety profile. Additionally, both assets demonstrated potent mechanistic activity, further supporting
the opportunity to demonstrate clinical benefit in a variety of disease indications. Zura Bio plans to commence at least one Phase 2 proof-of-concept
trial this year as well as making preparations for additional Phase 2 work next year.
The closing of the Business Combination is subject
to approval by JATT's shareholders and the satisfaction of other customary closing conditions. The Business Combination is expected
to close promptly after the Extraordinary Meeting. Upon closing, the combined company will be called "Zura Bio Limited", and
its common stock and warrants are expected to list on the Nasdaq Capital Market under the ticker symbols "ZURA" and "ZURAW,"
Special Meeting Details
The Special Meeting will be held at the offices
of Loeb & Loeb, LLP at 345 Park Avenue, New York, NY 10154 on March 16, 2023 at 2:00 pm Eastern Time.
The meeting will also be conducted as a virtual
meeting in order to facilitate shareholder attendance and participation. To register and receive access to the hybrid virtual meeting,
registered shareholders and beneficial shareholders (those holding shares through a stock brokerage account or by a bank or other holder
of record) will need to follow the instructions applicable to them provided in the proxy statement/prospectus.
Every shareholder's vote FOR ALL Proposals
is important, regardless of the number of shares held. If you have any questions or need assistance voting, please contact Alliance Advisors,
Inc., our proxy solicitor, 200 Broadacres Drive, Bloomfield, New Jersey 07003, Toll-free at (844) 717-2302, Email at JATT@allianceadvisors.com.
Important Information
Neither the SEC nor any state securities commission
has approved or disapproved of the securities to be issued in connection with the Business Combination, or determined if the Registration
Statement is accurate or adequate.
About Zura Bio Limited
Zura is a clinical-stage biotechnology company
advancing two primary assets, including ZB-168 in Alopecia Areata and other inflammatory diseases and torudokimab in both chronic obstructive
pulmonary disease (COPD) and asthma. ZB-168 is an anti IL7R inhibitor that has the potential to impace diseases driven by IL7 and
TSLP biological pathways. Zura aims to develop a portfolio of therapeutic indications for ZB-168, and is focused on demonstrating its
efficacy, safety, dosing convenience and mechanism of action, initially in Alopecia Areata (AA). This will build on Phase 1b data in Type
1 Diabetes demonstrating a favourable safety profile and strong biological rationale. Torudokimab is a fully human, high affinity monoclonal
antibody that neutralizes IL33 and is currently at Phase 2 clinical development stage. IL33 is a validated drug target in both chronic
obstructive pulmonary disease (COPD) and asthma. Zura is headquartered in London, UK.
Zura is headquartered in London, UK
About JATT Acquisition Corp
JATT is a blank check company formed for the purpose
of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more
businesses. The focus of the team is to pursue a business combination within the life sciences and biotechnology sectors. Management is
led by Dr. Someit Sidhu, Chairman and Chief Executive Officer, and Verender S. Badial, Chief Financial Officer.
Additional information and Where to Find It
In connection with the proposed business combination,
on August 22, 2022, JATT filed a registration statement on Form S-4 (the "Form S-4") with the Securities and Exchange Commission
(the "SEC"). The Form S-4, as amended from time to time, includes a proxy statement of JATT and a prospectus of Zura, referred
to as a proxy statement/prospectus. The proxy statement/prospectus is being sent to all JATT shareholders. Additionally, JATT will file
other relevant materials with the SEC in connection with the proposed business combination. Copies of the Form S-4, the proxy statement/prospectus
and all other relevant materials filed or that will be filed with the SEC may be obtained free of charge at the SEC's website at www.sec.gov.
Before making any voting or investment decision, investors and security holders of JATT are urged to read the Form S-4, the proxy statement/prospectus
and all other relevant materials filed or that will be filed with the SEC in connection with the proposed business combination because
they will contain important information about the proposed business combination and the parties to the proposed business combination.
Participants in Solicitation
JATT, Zura and their respective directors and
executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of JATT's shareholders in connection
with the proposed business combination. Investors and security holders may obtain more detailed information regarding the names and interests
in the proposed business combination of JATT's directors and officers in JATT's filings with the SEC, including JATT's initial public
offering prospectus, which was filed with the SEC on July 13, 2021, JATT's subsequent quarterly reports on Form 10-Q, annual reports on
Form 10-K and the Form S-4. To the extent that holdings of JATT's securities by JATT's insiders have changed from the amounts reported
therein, any such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Information
regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to JATT's shareholders in connection
with the business combination are included in the proxy statement/prospectus relating to the proposed business combination. You may obtain
free copies of these documents as described in the preceding paragraph.
No Offer or Solicitation
This communication shall not constitute a proxy
statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination.
This communication shall also not constitute an offer to sell or a solicitation of an offer to buy any securities of JATT or Zura, nor
shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Forward-Looking Statements
This communication includes "forward-looking
statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995
with respect to the proposed business combination between JATT and Zura Bio. Words such as "expect," "estimate," "project,"
"budget," "forecast," "anticipate," "intend," "plan," "may," "will,"
"could," "should," "believe," "predict," "potential," "continue," "strategy,"
"future," "opportunity," "would," "seem," "seek," "outlook" and similar expressions
are intended to identify such forward-looking statements. Forward-looking statements are predictions, projections and other statements
about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that
could cause the actual results to differ materially from the expected results. These statements are based on various assumptions, whether
or not identified in this communication. These forward-looking statements are provided for illustrative purposes only and are not intended
to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. These forward-looking
statements include, without limitation, Zura Bio's and JATT's expectations with respect to anticipated financial impacts of the proposed