SHANGHAI & CAMBRIDGE, Mass. — Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) has announced the completion of a private placement of American Depositary Shares (ADSs), raising approximately $250 million in gross proceeds.

Under the agreement, Zai Lab issued 11.34 million ADSs to participating institutional investors at a purchase price of $22.04 per ADS. The financing round was led by TCGX, with strong participation from premier biotech investors including RA Capital Management, Cormorant Asset Management, and RTW Investments, among others.

The net proceeds will primarily be deployed to advance Zai Lab’s global clinical-stage oncology and autoimmune pipelines—notably accelerating the global development of key candidates like its DLL3-targeted ADC—as well as supporting working capital and general corporate purposes. This successful financing underscores persistent investor confidence in Zai Lab’s dual-engine growth strategy and global innovation capabilities.