Zai Lab's series C round brings in $30M

Zai Lab Ltd. (Shanghai, China) raised $30 million in a series C round led by existing investor OrbiMed Advisors. New investors Vivo Capital, Cormorant Asset Management and Rock Springs Capital also participated. Zai said it will use the funds for R&D and business development. The company declined to comment further on its plans.

Once focused on in-licensing candidates, Zai has increasingly focused on internal discovery and development of biologics for oncology and autoimmune disease. The company raised more than $100 million in an early 2016 series B round led by Advantech Capital (see BioCentury, Nov. 2, 2015 & BioCentury Extra, Jan. 8, 2016)...