JATT Acquisition Corp (JATT) Shareholders Approve Proposed Business Combination with Zura Bio Limited
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JATT Acquisition Corp (NYSE: JATT) (“JATT”), a publicly traded special purpose acquisition company, today announced that its shareholders voted to approve its proposed business combination with Zura Bio Limited (“Zura”), a clinical-stage biotechnology company.
At the extraordinary general meeting of JATT’s shareholders, a total of 4,907,863 ordinary shares, or 95.5% of JATT’s issued and outstanding ordinary shares as of February 16, 2023, the record date of the extraordinary general meeting, were present either in person or represented by proxy. Holders of 4,903,764 ordinary shares, or 99.9% of the votes cast at the meeting, voted in favor the business combination.
At the closing of the business combination, which is expected to occur on March 20, 2023, after all closing conditions are satisfied or waived, the ordinary shares and warrants of the combined company are anticipated to begin trading on the Nasdaq Stock Market on March 21, 2023 under the new ticker symbols, “ZURA” and “ZURAW”, respectively.
The formal results of the vote will be included in a Current Report on Form 8-K to be filed by JATT with the Securities and Exchange Commission (the “SEC”).
Neither the SEC nor any state securities commission has approved or disapproved of the securities to be issued in connection with the business combination, or determined if the Form S-4 is accurate or adequate.
Zura is a clinical-stage biotechnology company advancing two primary assets, including ZB-168 in Alopecia Areata and other inflammatory diseases and torudokimab in both chronic obstructive pulmonary disease (COPD) and asthma. ZB-168 is an anti IL7R α inhibitor that has the potential to impact diseases driven by IL7 and TSLP biological pathways. Zura aims to develop a portfolio of therapeutic indications for ZB-168, and is focused on demonstrating its efficacy, safety, dosing convenience and mechanism of action, initially in Alopecia Areata (AA). This will build on Phase 1b data in Type 1 Diabetes demonstrating a favourable safety profile and strong biological rationale. Torudokimab is a fully human, high affinity monoclonal antibody that neutralizes IL33 and is currently at Phase 2 clinical development stage. IL33 is a validated drug target in both COPD and asthma. Zura is headquartered in London, UK.
JATT is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The focus of the team is to pursue a business combination within the life sciences and biotechnology sectors. Management is led by Dr. Someit Sidhu, Chairman and Chief Executive Officer, and Verender S. Badial, Chief Financial Officer.
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