Zura Bio Ltd

Commission File Number 001-40598 _______________________________________________________________________________ ZURA BIO LIMITED (Exact name of Registrant as specified in its Charter) _______________________________________________________________________________ Cayman Islands 98-1725736 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1489 W. Warm Springs Rd. #110 Henderson , NV 89014 (Address of principal executive offices) (Zip Code)

Table of Contents Page Cautionary Note Regarding Forward-Looking Statements 3 PART I FINANCIAL INFORMATION 5 Item 1. Financial Statements 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Changes in Redeemable Noncontrolling Interest and Shareholders' Equity 7 Condensed Consolidated Statements of Cash Flows 10 Notes to Unaudited Condensed Consolidated Financial Statements 11 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3. Quantitative and Qualitative Disclosures About Market Risk 35 Item 4. Controls and Procedures 35

Item 1. Legal Proceedings 37 Item 1A. Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38