Form 3 shows Jisong Cui holds 5,000,000 ZBIO common shares

Rhea-AI Filing Summary

Zenas BioPharma (ZBIO) filed a Form 3 disclosing initial beneficial ownership by Jisong Cui. The filing reports direct ownership of 5,000,000 shares of common stock as of the event date 10/07/2025. The relationship section indicates Director. The signature line lists Jisong Cui as Chairperson and CEO. Table II shows no derivative securities reported.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider InnoCare Pharma Inc.

Role 10% Owner

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 5,000,000 shares (Direct)

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FAQ

What did Zenas BioPharma (ZBIO) file?

A Form 3 reporting the initial beneficial ownership of an insider under Section 16.

How many ZBIO shares are reported as owned?

The filing lists 5,000,000 shares of common stock beneficially owned.

Is the ownership direct or indirect?

The ownership is reported as Direct (D).

What is the event date for this ownership report?

The event date is 10/07/2025.

What is the insider’s relationship to the company?

The relationship box indicates Director; the signature lists Chairperson and CEO.

Were any derivative securities reported?

No. Table II shows no derivative securities listed.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

InnoCare Pharma Inc.

(Last) (First) (Middle)

103 CARNEGIE CENTER, SUITE 209

(Street)

PRINCETON NJ 08540

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/07/2025

3. Issuer Name and Ticker or Trading Symbol
Zenas BioPharma, Inc. [ ZBIO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	5,000,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Jisong Cui, Chairperson and CEO	10/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.