Full Press Release Details
HENDERSON, Nev.--(BUSINESS WIRE)--Zura Bio Limited (Nasdaq: ZURA) (“Zura” or the “Company”), a clinical-stage biotechnology company developing novel and differentiated medicines to meaningfully improve the lives of patients with serious and debilitating autoimmune and inflammatory diseases, today reported that on May 13, 2026, the Company granted an inducement award consisting of an option to purchase up to 600,000 Class A Ordinary Shares (the “Option”) to Muzammil Mustufa, the Company’s new Chief Business Officer. 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 (the “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 (1/4th) 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.
ABOUT ZURA
Zura is a clinical-stage, multi-asset immunology company developing novel dual-pathway antibodies for autoimmune and inflammatory diseases with unmet need. Zura’s pipeline includes product candidates designed to target key mechanisms of immune system imbalance, with the goal of improving efficacy, safety, and dosing convenience for patients.
Zura’s lead product candidate, tibulizumab (ZB-106), is being evaluated in two Phase 2 clinical studies in adults: TibuSHIELD, a study in hidradenitis suppurativa (HS), and TibuSURE, a study in systemic sclerosis (SSc). Additional product candidates torudokimab (ZB-880) and crebankitug (ZB-168) have completed Phase 1/1b studies and are being evaluated for their potential across a range of autoimmune and inflammatory conditions.
For more information, please visit www.zurabio.com.