Zai Lab Secures Series C Financing

June 28, 2017 at 10:44 PM EDT

SHANGHAI, June 28, 2017 /PRNewswire/ -- Zai Lab Limited, a Shanghai-based innovative biopharmaceutical company focused on discovering or licensing, developing and commercializing proprietary therapeutics that address areas of large unmet medical needs in the China market, including in the areas of oncology, autoimmune and infectious diseases, today announced that it has raised US$30 million in a Series C preferred equity financing round.

The new financing round has attracted support from both new and existing investors including blue chip US healthcare public investment funds. OrbiMed led this round of financing with other new investors Vivo Capital, Cormorant and Rock Springs Capital. Proceeds from the fund-raising will go toward Zai Lab's research and development efforts and also support future partnering activities. J.P. Morgan served as placement agent to Zai Lab on the Series C financing.

About Zai Lab

Zai Lab is a Shanghai-based innovative biopharmaceutical company. The company's globally-experienced drug development team is passionate about bringing transformative medicines to China and discovering and developing novel therapeutics for patients worldwide. The vision at Zai Lab is to create a premier drug discovery, development, manufacturing and commercialization organization built on a foundation of world-class expertise and insights into the existing and expanding needs of Chinese patients. Zai Lab has a team of leaders who have a collective track record in all aspects of our business, including pioneering success in the regulatory process in China. The company has assembled a pipeline of potential best-in-class and first-in-class in China therapeutics at different stages of development by securing partnerships with leading multinational pharmaceutical and highly innovative biotechnology companies.

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