Zai Lab Soars On Nasdaq Debut
Shanghai-based drug developer Zai Lab shares jumped on its first day of public trading, reflecting the strong interest in drug development in China.
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Public Company Edition: Outside the US, Zai Lab raised more in its recent Hong Kong initial public offering – $766.4m – than PMV, Prelude, Taysha, Graybug and Greenwich combined. Also, Gilead priced debt to fund its $21bn Immunomedics buy and ADC Therapeutics raised $204m.
Zai Lab's VP and Head of Business Development Jonathan Wang tells Brain Yang how the China FDA's regulatory reforms make China attractive to international biotechs, and that therapeutic areas such as oncology and anti-infectives are to benefit, along with partnering in China.
A review of biopharma start-up deal-making and financing activity from July through September 2017, based on data from Strategic Transactions, showed that fundraising declined 18% from the previous quarter, however the number of acquisitions doubled to eight.