Shanghai’s Zai Lab is planning a US IPO that could raise $150 million and value the company at $1 billion, according to knowledgeable sources. The company has already picked Citigroup and JPMorgan Chase as underwriters, though it has not completed a US filing. Zai Lab is led by high-profile Samantha Du, PhD, who previously was responsible for Chi-Med’s innovative drug R&D operations. Zai is developing innovative products with an eye toward the China market in oncology, autoimmune and infectious disease areas. The company has in-licensed products from western drug companies, and it started its own drug discovery operations in 2015.
Source: ChinaBio Today