Zai Lab, a biopharma company listed on Nasdaq and the Hong Kong exchange, has agreed to raise about $250 million in a private placement. It will sell 11,340,000 American Depositary Shares at $22.04 each, with each share representing ten ordinary shares. TCGX leads the round. Other investors include abrdn World Healthcare Fund, ADAR1 Capital Management, Balyasny Asset Management, Cormorant Asset Management, Frazier Life Sciences, RA Capital Management, RTW Investments, Sirenia Capital Management, Wellington Management, and Woodline Partners. Zai Lab will mainly use the proceeds to support global development of zocilurtatug pelitecan, its DLL3-targeting antibody-drug conjugate. The deal is expected to close on or about October 27, 2026.

Berkeley Heights, NJ., Jan 22, 2026 – Corxel Pharmaceuticals Limited (CORXEL), a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for patients with cardiometabolic conditions around the world, today announced the successful completion of its Series D1 financing, raising up to $287 million in capital. Proceeds from the round are expected to support the advancement of CX11, a differentiated oral small molecule GLP-1 RA for obese and overweight patients currently being evaluated in a Phase 2 trial conducted by CORXEL in the United States and a Phase 3 trial conducted by Vincentage in China, and other cardiometabolic programs, including for acute ischemic stroke and hypertension.

Encoded Therapeutics has closed a $275 million Series F financing round co-led by GV and another healthcare fund. The clinical-stage biotechnology company develops precision genetic medicines for severe neurological disorders. The proceeds will fund a pivotal study of ETX101 in infants and young children with SCN1A+ Dravet syndrome, plus an expansion study for children and adolescents up to 18 years. The funding will also support commercial-scale GMP manufacturing and pipeline advancement, including ETX301 towards a 2027 Investigational New Drug submission for post-amputation neuroma pain. Participating investors include ARCH Venture Partners, Braidwell LP, Farallon Capital Management, Illumina Ventures, Invus, Janus Henderson Investors, Matrix Capital Management, Nolan Capital, RTW Investments, SoftBank Vision Fund 2, and Venrock.