JP Morgan served as placement agent to Zai Lab on the Series C financing.
Founded in 2013, Zai Lab is focused on discovering or licensing, developing and commercialising proprietary therapeutics that address areas such as oncology, autoimmune and infectious diseases.
“Proceeds from the fund-raising will go toward Zai Lab’s research and development efforts and also support future partnering activities,” the bio-pharma company said in its statement.
OrbiMed manages $13 billion across public and private company investments worldwide. It currently has a team of over 80 scientific, medical, investment and other professionals. Investments by OrbiMed are made in one of three strategies — public equity, private equity, and royalty opportunities.