SHANGHAI, Jan. 8, 2016 /PRNewswire/ -- Zai Lab Ltd., an innovative biopharmaceutical company, announced today that it has secured over $100M in its Series B financing from a group of leading healthcare investors. The investment was led by Advantech Capital and included OrbiMed. The existing investors Qiming Ventures, Sequoia Capital China, and TF Capital all participated in the round.
The funding will be used to support Zai Lab's research and development programs as well as the company's ongoing in-licensing and commercialization efforts. Zai Lab has built a world class organization with global expertise to focus on developing novel medicines in areas of large unmet medical needs.
Commenting on the financing, Dr. Samantha Du, founder, Chairman and CEO said: "We welcome both US and China's leading investors to join this significant round of financing and with all existing investors participating. This financing will allow Zai to further capitalize on the rapid growing opportunity in China and to bring transformative treatments to patients with highly unmet medical needs."
Mr. Jianming Yu, Founder & Managing Partner of Advantech Capital, said, "We are delighted to partner with Zai Lab's team of industry veterans in this exciting time of rapid growth in China's healthcare sector. Dr. Du and her team are building a world-class company. We are pleased with the progress they have made and see significant potential in Zai Lab."
About Zai Lab
Zai Lab is a leading biopharmaceutical company based in China focused on discovering, developing and commercializing innovative medicines for unmet medical needs globally. The company is building a strong portfolio of therapeutic programs aimed at transforming patients' lives. Zai Lab has a world class leadership team with deep experience at global pharmaceutical and biotech organizations. The team has a strong track record of success -- successfully taken five novel drug candidates into clinical trials inChina, pioneered new regulatory channels, secured regulatory approvals in record times, conducted multiple IND trials in the US, and brought the first China discovered drug into Global Phase III trials. Zai Lab is committed to build a globally leading drug research and development powerhouse with a culture of excellence and teamwork and a strong focus on fostering innovation and creativity. For more information, please visit www.zailaboratory.com.
About Advantech Capital
Advantech Capital is one of the two parallel new funds set up by Mr. Jianming Yu in January 2016. Advantech Capital focuses on innovation-driven growth capital, on investments in TMT, E-services, and Healthcare sectors in China. The other new fund, Redview Capital, focuses on traditional growth capital, on investments in Consumer, Advanced Manufacturing, Clean Energy, and New Materials in China. Mr. Yu is Co-Founder & Managing Partner of New Horizon Capital.