A lot has happened to Zura Bio, the UK clinical-stage biotechnology company, in a short time. In March, it became the first UK listing on the Nasdaq in 2023 following a $65m business combination with a special purpose acquisition company (SPAC). After the listing, Zura Bio raised another $80m, and in June was added to the Russell 2000 and Russell 3000 indices during their annual reconstitution.
JATT Acquisition Corp, a SPAC listed on the New York Stock Exchange, acquired Zura Bio for its unique business model of unlocking potential in drugs that big pharmaceutical companies had validated but deprioritised, despite significant investments over many years. It can take 10 to 12 years to develop a drug from inception through to approval. Zura Bio’s model takes advantage of work that has already been completed to significantly cut that timeline.
