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 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 IL7Rα, 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.
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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,” respectively.
Source: Biospace
