Zura Bio Appoints New CMO, Elects Directors

TL;DR

Zura Bio beefs up leadership with new CMO and board members.

AI Summary

Zura Bio Ltd. announced on July 24, 2024, the appointment of Dr. Joshua Kazer as Chief Medical Officer and the election of Dr. Kazer and Ms. Sarah K. Kelly to its Board of Directors. The company also disclosed compensatory arrangements for these individuals. Zura Bio Ltd. is a biotechnology company focused on developing therapies.

Why It Matters

The appointment of a new Chief Medical Officer and board members signals a strategic shift or expansion in Zura Bio's leadership and potentially its research and development direction.

Risk Assessment

Risk Level: medium — Changes in key executive and board positions can indicate strategic shifts or internal challenges, impacting the company's future direction and performance.

Key Players & Entities

• Zura Bio Ltd. (company) — Registrant
• Dr. Joshua Kazer (person) — Appointed Chief Medical Officer and Elected Director
• Ms. Sarah K. Kelly (person) — Elected Director
• July 24, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ed Class A Ordinary Shares, par value $0.0001 per share ZURA The Nasdaq Stock Mar
• $11.50 — Ordinary Share at an exercise price of $11.50 per share ZURAW The Nasdaq Stock Ma
• $139,173 — due salary as of the Termination Date, $139,173 in lieu of notice, $139,173 as compensa
• $278,346 — the termination of his employment, and $278,346 as a severance payment, subject to Mr.

Filing Documents

• tm2420123d1_8k.htm (8-K) — 32KB
• tm2420123d1_ex10-1.htm (EX-10.1) — 102KB
• 0001104659-24-082476.txt ( ) — 368KB
• zura-20240724.xsd (EX-101.SCH) — 3KB
• zura-20240724_def.xml (EX-101.DEF) — 26KB
• zura-20240724_lab.xml (EX-101.LAB) — 36KB
• zura-20240724_pre.xml (EX-101.PRE) — 25KB
• tm2420123d1_8k_htm.xml (XML) — 5KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously announced, on March 24, 2024, the board of directors of Zura Bio Limited (the " Company ") approved a Chief Executive Officer (" CEO ") transition from Someit Sidhu, our Founder, CEO and Director, to Robert Lisicki, effective April 8, 2024 (the " Termination Date "). On July 24, 2024, the Company and Someit Sidhu entered into a settlement agreement (the " Agreement "), pursuant to which the Company shall pay Mr. Sidhu his due salary as of the Termination Date, $139,173 in lieu of notice, $139,173 as compensation for the termination of his employment, and $278,346 as a severance payment, subject to Mr. Sidhu's compliance with the Agreement. In addition, the Company shall accelerate the vesting of Mr. Sidhu's stock option grants of 1,950,000 Class A ordinary shares (" Option Shares "), with 1,000,000 Option Shares fully exercisable as of the Termination Date and 250,000 Option Shares to be vested in equal tranches on each of the first, second and third anniversaries of the Termination Date. Further, the Company determined that 700,000 Option Shares are fully exercisable until their expiration date due to Mr. Sidhu's integral participation in a previous capital raise within 12 months of the Termination Date. The Agreement is included as Exhibit 10.1 hereto. The description of the Agreement above does not purport to be complete and is qualified in its entirety by the terms and conditions of the Agreement which is attached hereto as Exhibit 10.1.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Number Description 10.1 Settlement Agreement by and between Zura Bio Limited and Someit Sidhu dated July 24, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 25, 2024 ZURA BIO LIMITED By: /s/ Kim Davis Kim Davis Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR