SHANGHAI, Sept. 27, 2020 /PRNewswire/ -- Qiming's portfolio company Zai Lab (SEHK:9688, NASDAQ:ZLAB), an innovative commercial-stage biopharmaceutical company, officially listed on the Main Board of The Stock Exchange of Hong Kong Limited today.
In this secondary listing, the issue price is HK$562 per share; the stock opens at HK$613.5 per share, up 9.16%, with a market cap of HK$52.724 billion. The company has been listed on Nasdaq since 2017.
Qiming Venture Partners, which started investing in Zai Lab in 2014, was the company's earliest investor and was its largest shareholder before it went public, with an ownership of 12.0%.
Zai Lab focuses on bringing transformative medicines for cancer, infectious and autoimmune diseases to patients in China and around the world. Zai Lab has secured partnerships with leading global biopharma companies, generating a broad pipeline of innovative drug candidates. Zai Lab has also built an in-house team with strong drug discovery and translational research capabilities.
Since its inception, Zai Lab has executed the strategic approach of in-licensing promising biopharmaceutical products via global collaboration and investing in internal discovery and development efforts. Its robust portfolio consists of 16 products and drug candidates, including two commercialized products in Mainland China, Hong Kong and Macau and seven assets in pivotal or potentially registration-enabling trials in oncology and infectious diseases.
Zai Lab successfully launched ZEJULA in Hong Kong in the fourth quarter of 2018 and achieved over the majority market share in the PARP inhibitor category with in terms of sales in 2019. The company launched Optune in Hong Kong in December 2018. Zai Lab has commercialized ZEJULA in Hong Kong, Macau and Mainland China, and Optune in Hong Kong and Mainland China.
Zai Lab has been committed to pursuing global innovation through its proprietary, science-driven approach. Led by the founder Dr. Samantha Du, who has been pioneering the industry for over two decades, Zai Lab has assembled an experienced execution team with in-depth knowledge and capabilities spanning research and development, regulatory approval process and commercialization. The team is supported by the expertise of its advisory board, academic collaborations and key opinion leader relationships.
Over the next three years, the company expects to have a steady stream of approvals and commercial product launches in Greater China across multiple therapeutic areas, establish transformative partnerships, expand global footprint, and advance internally discovered global pipeline into the pivotal stage.
"Zai Lab is the first innovative drug company in Qiming's portfolio. It is a privilege to work with the team since inception and to witness, under Samantha's leadership, the company's transformation from a start-up six years ago to one of the fastest growing innovative commercial stage biopharmaceutical company in China," said Nisa Leung, Managing Partner of Qiming Venture Partners.
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston and San Francisco Bay Area.
Currently Qiming Venture Partners manages nine US Dollar funds and five RMB funds with $5.3 billion assets under management. Since our establishment, we have invested in outstanding companies in the TMT and healthcare industries at the early and growing stages.
Since our debut, we have backed over 350 fast-growing and innovative companies. Over 110 companies are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange and Shenzhen Stock Exchange, or achieved exit through M&A and other means. There are also over 30 portfolio companies that have achieved unicorn status.
Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi (SEHK:1810), Meituan (SEHK:3690), Bilibili (NASDAQ:BILI), Roborock (SHSE:688169), Gan & Lee (SHSE: 603087), Tigermed (SZSE:300347, SEHK:3347), Zai Lab (SEHK:9688, NASDAQ:ZLAB), Venus MedTech (SEHK:2500), CanSino (SEHK:6185, SHSE:688185), Schrödinger (NASDAQ:SDGR), Sanyou Medical (SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), SinocellTech (SHSE: 688520), WeDoctor Group, UBTech among many others.
SOURCE Qiming Venture Partners