Davis Polk advised Zai Lab Limited in connection with its follow-on offering of approximately $300 million of American depositary shares, representing 5,500,000 ordinary shares by the company and 500,000 ordinary shares by its selling shareholder. The ADSs are listed on the Nasdaq Global Market under the symbol “ZLAB.”
Zai Lab is a China and U.S.-based innovative commercial stage biopharmaceutical company focused on bringing transformative medicines for cancer, infectious and autoimmune diseases to patients in China and around the world. The company’s experienced team has secured partnerships with leading global biopharma companies, generating a broad pipeline of innovative drug candidates targeting the fast-growing segments of China’s pharmaceutical market and addressing unmet medical needs. Zai Lab’s vision is to become a fully integrated biopharmaceutical company, discovering, developing, manufacturing and commercializing its partners’ and its own products in order to impact human health worldwide.
The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel-registered foreign lawyer Xuelin (Steve) Wang, associates Jennifer Ying Lan and Edwin Lee and registered foreign lawyer I. Danni Lin. Counsel Alon Gurfinkel and associate Eitan Ulmer provided tax advice. Associate Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the New York, London and Hong Kong offices.