Amit Munshi
About Amit Munshi
Amit D. Munshi (age 57) is the independent, non‑employee Chairman of Zura Bio Limited’s Board, serving as Chair since March 2023 and as a director of Legacy Zura since November 2022 . He is currently CEO and Chairman of Orna Therapeutics (since May 2024), and previously served as CEO & President of ReNAgade Therapeutics (April 2023–May 2024) and Arena Pharmaceuticals (2016–2022) . He holds a B.S. in Economics and a B.A. in History (UC Riverside) and an MBA (Claremont Graduate University), with 30+ years of global biopharma leadership in executive management, product development, and portfolio management .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Arena Pharmaceuticals | President & CEO; Director | 2016–2022 | Led through sale to Pfizer for $6.7B in 2022 |
| ReNAgade Therapeutics | CEO & President | 2023–2024 | Company acquired by Orna Therapeutics in 2024 |
| Epirus Biopharmaceuticals | President & CEO; Director | Prior to 2016 | Post asset sale, filed Chapter 7 in July 2016 (bankruptcy) |
| Kythera Biopharmaceuticals | Co‑founder; Chief Business Officer | 2005–2010 | Company sold to Allergan plc |
| Percivia LLC | President & CEO | Prior period | Company sold to Johnson & Johnson |
| Amgen Inc. | Multiple leadership positions incl. GM Nephrology Europe | 1997–2005 | Senior operating roles across geographies |
| Pulmatrix Inc. | Director; Audit Committee | 2017–2021 | Board and audit oversight |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Orna Therapeutics | CEO & Chairman | May 2024 | Private; merged with ReNAgade in 2024 |
| Enterprise Therapeutics | Chairman | Mar 2019 | Chair of board |
| Galecto Inc. (Nasdaq: GLTO) | Director; Audit Committee member | Jan 2020 | Public company, audit oversight |
| Inhibikase Therapeutics (Nasdaq: IKT) | Director; Compensation Committee member | Oct 2024 | Public company, comp oversight |
| Zura Bio Inc.; Z33 Bio Inc. (subsidiaries) | Director | Ongoing | US subsidiaries of Zura |
Board Governance
- Independence status: Board determined Munshi is independent under Nasdaq standards; he is the independent Chair of the Board .
- Board leadership: Zura separates CEO and Chair roles to reinforce independent oversight; Chair role currently held by Munshi .
- Attendance/engagement: Board met 5 times in FY2024; Audit, Compensation, and Nominating & Governance each met 4 times; every then‑serving director attended at least 75% of Board and applicable committee meetings; independent‑director executive sessions are held regularly, typically at each regular Board meeting .
- Committee assignments (current as of proxy filing): Audit Committee member (with Chair Steve Schoch; Schoch designated financial expert); Compensation Committee member (Chair Sandeep Kulkarni transitioning to Dan Becker post‑meeting); not listed on Nominating & Governance at the time of filing .
| Committee | Membership | Chair | Notes |
|---|---|---|---|
| Audit | Munshi (member); Schoch; Kulkarni | Schoch | Schoch deemed “financial expert” |
| Compensation | Munshi (member); Kulkarni; Jarrett | Kulkarni (to Becker post‑AGM) | Post‑AGM: Munshi, Jarrett, Becker (Chair) |
| Nominating & Governance | Not listed | Graham | Membership: Graham, Ploos van Amstel, Jarrett |
Fixed Compensation
| Year | Cash Fees Earned ($) | Notes |
|---|---|---|
| 2024 | 87,125 | Program included annual cash retainer ($50,000, reduced to $40,000 effective Oct 23, 2024) plus $25,000 for non‑executive Chair; committee member/chair retainers: Audit $8,000/$16,000; Compensation $6,000/$12,000; Nominating & Governance $6,000/$10,000 |
| 2025 Policy | Structure only | Annual cash retainer $40,000; Chair retainer $25,000; committee member/chair retainers unchanged (Audit $8,000/$16,000; Compensation $6,000/$12,000; Nominating & Governance $6,000/$10,000) |
Performance Compensation
| Year | Equity Awards ($) | Structure and Grant Mechanics |
|---|---|---|
| 2024 | 251,082 | Director program: initial option grant (lesser of 51,000 shares or $200k value from Apr 1, 2025 policy; prior 2024 program initial 48,149 shares) and annual option grant (lesser of 51,000 shares or $200k value from Apr 1, 2025 policy; prior 2024 program 117,000 shares), 10‑year term, monthly vesting for 2025 policy (12 installments), annual vest in 2024 program |
| 2023 (board‑approved) | N/A dollar shown here | Shareholders approved a 1,130,000 option grant to Munshi administered under the 2023 Plan (outside plan grant) on June 1, 2023 |
No director performance metrics (e.g., TSR, revenue/EBITDA targets) are disclosed for director compensation; director equity and cash retainers are role‑based per policy .
Other Directorships & Interlocks
| Entity | Relationship to Zura Board | Potential Interlock/Implication |
|---|---|---|
| Arena Pharmaceuticals | Munshi (former CEO); Jarrett (former director); Schoch (former director and Audit Chair) | Shared history across multiple Zura directors could improve cohesion and speed of decision‑making, but poses group‑think risk; all roles disclosed with dates |
Expertise & Qualifications
- 30+ years in biopharma across executive management, business development, product development, and portfolio management; prior senior roles at Amgen .
- Education: B.S. Economics and B.A. History (UC Riverside), MBA (Claremont Graduate University) .
- Technical domains: Immunology/inflammation oversight via external roles; audit and compensation committee experience at public companies .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % Outstanding | Composition |
|---|---|---|---|
| Amit Munshi | 1,568,467 | 2.26% | 652,386 Class A shares held directly; 916,081 options exercisable within 60 days |
| Hedging/Pledging | Prohibited | — | Insider Trading Policy prohibits hedging, short‑selling, derivative trades, margin purchases, and pledging as collateral |
Insider Transactions
| Date | Type | Security | Quantity | Price | Notes |
|---|---|---|---|---|---|
| Apr 22, 2024 (closing) | Private placement subscription | Class A ordinary shares | 159,744 | $3.13 | Personal investment in company financing |
| Jun 1, 2023 | Equity award (board‑approved) | Stock options | 1,130,000 | — | Shareholder‑approved grant administered under 2023 Plan |
Governance Assessment
- Board effectiveness: Independent Chair with separation from CEO enhances oversight; Munshi serves on Audit and Compensation, strengthening financial and pay governance .
- Independence/attendance: Board affirms Munshi’s independence; directors met attendance thresholds (≥75% of meetings); executive sessions for independent directors occur regularly .
- Alignment: Munshi’s direct shareholding and option exposure plus personal participation in the 2024 private placement indicate skin‑in‑the‑game .
- Compensation structure: Director pay is predominantly retainer plus stock options; no disclosed performance conditions for directors—consistent with market practice but reduces explicit pay‑for‑performance linkage at the director level .
- RED FLAGS:
- Related‑party employment: Munshi’s daughter (Senior Director, Corporate Planning & Operations) employed in 2024 with $260,000 base, initial equity grant, 20% bonus target, and a $40,000 signing bonus in Q1 2025; while company states terms are market, this represents a related‑party exposure requiring careful oversight .
- Prior bankruptcy involvement: Epirus filed Chapter 7 in July 2016, a historical risk marker; balanced by successful Arena exit .
- Risk controls: Company has an Insider Trading Policy prohibiting hedging/pledging and adopted a Dodd‑Frank‑compliant clawback policy in 2023, supporting governance rigor .