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                               June 23, 2023

       Someit Sidhu, M.D.
       Chief Executive Officer
       Zura Bio Limited
       4225 Executive Square, Suite 600
       La Jolla, CA 92037

                                                        Re: Zura Bio Limited
                                                            Registration
Statement on Form S-1
                                                            Filed June 14, 2023
                                                            File No. 333-272628

       Dear Someit Sidhu:

              We have limited our review of your registration statement to
those issues we have
       addressed in our comments. In some of our comments, we may ask you to
provide us with
       information so we may better understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.

       Registration Statement on Form S-1

       Cover Page

   1.                                                   For each of the shares
and warrants being registered for resale, disclose the price that the
                                                        selling securityholders
paid for such shares and warrants.
   2.                                                   Disclose the exercise
prices of the warrants compared to the market prices of the
                                                        underlying securities.
If the warrants are out of the money, please disclose the likelihood
                                                        that warrant holders
will not exercise their warrants. Provide similar disclosure in the
                                                        prospectus summary,
risk factors, MD&A and use of proceeds section and disclose that
                                                        cash proceeds
associated with the exercises of the warrants are dependent on the stock
                                                        price. As applicable,
describe the impact on your liquidity and update the discussion on
                                                        the ability of your
company to fund your operations on a prospective basis with your
                                                        current cash on hand.
 Someit Sidhu, M.D.
FirstName  LastNameSomeit Sidhu, M.D.
Zura Bio Limited
Comapany
June       NameZura Bio Limited
     23, 2023
June 23,
Page 2 2023 Page 2
FirstName LastName
3.       We note the significant number of redemptions of your Class A Ordinary
Shares in
         connection with your business combination and that the shares being
registered for resale
         will constitute a considerable percentage of your public float. If any
of the shares being
         registered for resale were purchased by the selling securityholders
for prices considerably
         below the current market price of the Class A Ordinary Shares,
highlight the significant
         negative impact sales of shares on this registration statement could
have on the public
         trading price of the Class A Ordinary Shares.
Risk Factors, page 18

4.       Include an additional risk factor highlighting the negative pressure
potential sales of
         shares pursuant to this registration statement could have on the
public trading price of the
         Class A Ordinary Shares. To illustrate this risk, disclose the
purchase price of the
         securities being registered for resale and the percentage that these
shares currently
         represent of the total number of shares outstanding. If appropriate,
also disclose that, even
         if the current trading price returns to or drops below the SPAC IPO
price, the private
         investors have an incentive to sell because they will still profit on
sales because of the
         lower price that they purchased their shares than the public
investors.
5.       Your cover page references a risk factor entitled "Future resales, or
the perception of
         future resales, of Class A Ordinary Shares, including the Registrable
Shares offered for
         resale hereunder, may cause the market price of the Class A Ordinary
Shares to decline
         significantly, even if our business is doing well.    Please revise to
include this risk factor.
Business
Overview, page 78

6.       In light of the significant number of redemptions, expand your
discussion of capital
         resources to address any changes in the company   s liquidity position
since the business
         combination. If the company is likely to have to seek additional
capital, discuss the effect
         of this offering on the company   s ability to raise additional
capital.
7.       Please expand your discussion here to reflect the fact that this
offering involves the
         potential sale of a substantial portion of shares for resale and
discuss how such sales could
         impact the market price of the company   s common stock. Your
discussion should
         highlight the fact that many of the beneficial owners of your
outstanding shares will be
         able to sell all of their shares for so long as the registration
statement of which this
         prospectus forms a part is available for use.
General

8.       Revise your prospectus to disclose the price that each selling
securityholder paid for the
         shares and warrants being registered for resale. Highlight any
differences in the current
         trading price, the prices that the Sponsor, private placement
investors, PIPE investors, or
         other selling securityholders acquired their shares and warrants, and
the price that the
         public securityholders acquired their shares and warrants. Disclose
that while the
 Someit Sidhu, M.D.
Zura Bio Limited
June 23, 2023
Page 3
      sponsor, private placement investors, PIPE investors, or other selling
securityholders may
      experience a positive rate of return based on the current trading price,
the public
      securityholders may not experience a similar rate of return on the
securities they
      purchased due to differences in the purchase prices and the current
trading price. Please
      also disclose the potential profit the selling securityholders will earn
based on the current
      trading price. Lastly, please include appropriate risk factor disclosure.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration
statement.

       Please contact Dillon Hagius at 202-551-7967 or Tim Buchmiller at
202-551-3635 with
any questions.



                                                             Sincerely,
FirstName LastNameSomeit Sidhu, M.D.
                                                             Division of
Corporation Finance
Comapany NameZura Bio Limited
                                                             Office of Life
Sciences
June 23, 2023 Page 3
cc:       Giovanni Caruso, Esq.
FirstName LastName