Company: ZURA
Filing Date: 2025-05-22
Form Type: CORRESP
Source: 0001104659-25-052055
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Company: Zura Bio Ltd
Filing Date: 2025-05-22
Form: CORRESP
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May 22, 2025

VIA EDGAR

U.S. Securities and Exchange Commission

Division of Corporation Finance

Office of Life Sciences

100 F Street, N.E.

Washington, D.C. 20549

| Attn: | Jenn Do |

Kevin Vaughn

| Re: | Zura Bio Limited |

Form 10-K for Fiscal Year Ended December 31, 2024

File No. 001-40598

Dear Jenn Do and Kevin Vaughn:

We are writing in response to the comments received
from the staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”) by letter dated May
8, 2025 with respect to the above-referenced filing of Zura Bio Limited (the “Company”). For your convenience, we have repeated
the Staff’s comments before the Company’s responses below.

We acknowledge the Staff’s comment and,
as the Company had already filed with the SEC its Quarterly Report on Form 10-Q for the first quarter ended March 31, 2025 at the time
of receipt of this comment, we plan to enhance our disclosure in future periodic reports consistent with the proposed disclosure set forth
in to this letter, beginning with our Quarterly Report on Form 10-Q for the second quarter ended June 30, 2025.

| 2. | We note the discussion of the Cell Line License Agreement hereunder as well as the WuXi Biologics MSA                                   
 disclosed on page 100. Please tell us and revise future filings to disclose the extent to which consideration was exchanged in order to 
 enter into the WuXi Biologics MSA or subsequently pursuant to the agreement. Please either file both of these agreements as exhibits in 
 your next periodic filing pursuant to Item 601(b)(10)(ii)(B) of Regulation S-K, or tell us why they are not required to be filed.       |

We acknowledge the Staff’s comment with
respect to the disclosure of the WuXi Biologics MSA and propose to include the following in our Quarterly Report on Form 10-Q for the
second quarter ended June 30, 2025:

WuXi Biologics License

In July 2023, the Company entered
into a biologics master services agreement (the “WuXi Biologics MSA”) with WuXi Biologics. Pursuant to the WuXi Biologics
MSA, the parties enter into work orders setting forth the services and fees