A Cheshire MedTech has listed on New York’s NASDAQ stock exchange, raising $65 million to support research and development initiatives and potential acquisitions.
Zura Bio, which has partnered with pharma giant Pfizer, is developing drugs to treat diabetes and neutralise allergic inflammation-related bodily reactions.
The SPAC deal sees it merge with JATT Acquisition Corp.
The combined company will be led by a team of biotechnology entrepreneurs and pharmaceutical industry veterans, including former members of the leadership team of Arena Pharmaceuticals.
Dr Someit Sidhu leads the combined company as CEO and Amit Munshi serves as non-executive chairman.
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“This is an important milestone for our company and investors,” said Dr Sidhu. “I am eager to work alongside the proven and experienced leadership at Zura Bio as we collectively build the next immunology leader.
“This transaction allows us to progress our multi-asset pipeline targeting important immunology pathways.”
Munshi added: “Putting together a talented and experienced team alongside assets with differentiated attributes, established safety profiles and representing clinically validated mechanisms is a potent combination.
“The board of directors is excited to partner with this management team to drive excellence in clinical development and execution as we bring value to patients and shareholders alike.”