China: OrbiMed leads $30m Series C in biopharma firm Zai Lab

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US-based healthcare fund management firm OrbiMed led a $30 million Series C preferred equity financing round in Zai Lab Ltd, a bio-pharmaceutical company in Shanghai, China.

New investors Vivo Capital, Cormorant and Rock Springs Capital also joined the round.

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.

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