- Business
- Zai Lab Limited (9688.HK; ZLAB) is an innovation-driven, commercial-stage global biopharmaceutical company that discovers, develops, manufactures, and commercializes transformative therapies addressing unmet medical needs in oncology, immunology, neuroscience, and infectious diseases; its core approved products in Greater China include Zejula (niraparib, PARP inhibitor for ovarian, fallopian tube, and primary peritoneal cancer maintenance), VYVGART and VYVGART Hytrulo (efgartigimod alfa-fc and subcutaneous formulation, FcRn inhibitors for generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy), NUZYRA (omadacycline, antibiotic for infectious diseases), Optune (tumor treating fields device for glioblastoma and first-line pancreatic cancer), QINLOCK (ripretinib, kinase inhibitor for gastrointestinal stromal tumors), Adcetris (brentuximab vedotin, CD30-targeted antibody-drug conjugate for relapsed/refractory Hodgkin lymphoma and systemic anaplastic large cell lymphoma), Nuzhaura, and eight marketed products overall supported by specialized commercial teams in oncology, autoimmune, and neurology franchises. Founded in 2014 by Dr. Samantha Du and headquartered in Shanghai, China (4560 Jinke Road, Pudong) with additional key sites in Cambridge, Massachusetts, USA, and manufacturing facilities in Suzhou for small-molecule oral solids (20 million capsules/50 million tablets capacity) and biologics pilots, the company operates primarily in Greater China with global R&D, clinical development, regulatory, and partnering capabilities spanning the US, Europe, and Asia; it maintains an internal discovery platform in Shanghai and San Francisco Bay Area for small molecules, biologics, and human transgenic mouse antibodies in oncology and immunology, complemented by in-house clinical operations (over 80% medically trained staff), pharmacovigilance, and strategic academic collaborations. Recent developments include presentation of first/best-in-class data for zocilurtatug pelitecan (zoci, DLL3-targeted ADC, formerly ZL-1310) at the 2025 Triple Meeting supporting global Phase 3 initiation in second-line+ extensive-stage small cell lung cancer, alongside first-line combination data readouts in 1H2026 and novel combo Phase 1 in 2026; initiation of global Phase 1 for ZL-1503 (IL-13/IL-31 bispecific antibody for atopic dermatitis) and planned IND for ZL-6201 (LRRC15 ADC for solid tumors) by end-2025; upcoming NMPA submissions for tumor treating fields in first-line pancreatic cancer and efgartigimod prefilled syringe in gMG/CIDP in 4Q2025; progression of partnered programs such as argenx's povetacicept (APRIL/BAFF dual inhibitor) in IgA nephropathy with Vertex interim Phase 3 analysis and potential US accelerated approval, VRDN-003 subcutaneous anti-IGF-1R for thyroid eye disease with Greater China registrational start in 4Q2025 and global topline data in 1Q/2Q2026, and topline thyroid eye disease data from argenx's UplighTED studies in 2H2026; achievement of Q3 2025 total revenue of $116 million (13% YoY growth) driven by product sales including Zejula (+54% YoY), VYVGART (+2% YoY), and NUZYRA amid robust pipeline expansion and 2024 full-year revenue growth to $264-399 million from key brands like Nuzhaura ($94.7 million, +136% YoY), QINLOCK ($85.4 million, +23% YoY), and Optune ($56.3 million, +12% YoY).