<SEC-DOCUMENT>0001193125-17-373656.txt : 20171219
<SEC-HEADER>0001193125-17-373656.hdr.sgml : 20171219
<ACCEPTANCE-DATETIME>20171219163058
ACCESSION NUMBER:		0001193125-17-373656
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171219
FILED AS OF DATE:		20171219
DATE AS OF CHANGE:		20171219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Zai Lab Ltd
		CENTRAL INDEX KEY:			0001704292
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38205
		FILM NUMBER:		171264357

	BUSINESS ADDRESS:	
		STREET 1:		4560 JINKE ROAD
		STREET 2:		BLDG. 1, 4F, PUDONG
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			201210
		BUSINESS PHONE:		862161632588

	MAIL ADDRESS:	
		STREET 1:		4560 JINKE ROAD
		STREET 2:		BLDG. 1, 4F, PUDONG
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			201210
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d493855d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">FORM&nbsp;6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF
FOREIGN PRIVATE ISSUER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO RULE <FONT STYLE="white-space:nowrap">13A-16</FONT> OR
<FONT STYLE="white-space:nowrap">15D-16</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the Month of December 2017 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-38205</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>ZAI LAB LIMITED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of registrant&#146;s name into English) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>4560 Jinke
Road, Bldg. 1, 4F, Pudong, Shanghai, China 201210 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of <FONT STYLE="white-space:nowrap">Form&nbsp;20-F</FONT> or <FONT
STYLE="white-space:nowrap">Form&nbsp;40-F:</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Form&nbsp;20-F&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;&nbsp;&#9744;</FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the <FONT
STYLE="white-space:nowrap">Form&nbsp;6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule&nbsp;101(b)(1):&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the <FONT STYLE="white-space:nowrap">Form&nbsp;6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule&nbsp;101(b)(7):&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>License and Collaboration Agreement </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December&nbsp;19, 2017 (the &#147;<U>Effective Date</U>&#148;), Zai Lab (Shanghai) Co., Ltd. (&#147;<U>Zai</U>&#148;) entered into a License
and Collaboration Agreement (the &#147;<U>Agreement</U>&#148;) with Five Prime Therapeutics, Inc. (&#147;<U>FivePrime</U>&#148;), pursuant to which FivePrime granted Zai exclusive rights to develop and commercialize FivePrime&#146;s proprietary
afucosylated FGFR2b antibody known as FPA144, and all fragments, conjugates, derivatives and modifications thereof (the &#147;<U>Licensed Antibody</U>&#148;) in China, Hong Kong, Macau and Taiwan (each, a &#147;<U>region</U>,&#148; and collectively,
the &#147;<U>Territory</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the terms of the Agreement, Zai will be responsible, at its expense, for (i)&nbsp;developing and
commercializing products containing the Licensed Antibody (each, a &#147;<U>Licensed Product</U>&#148;) under a territory development plan (ii)&nbsp;performing certain development activities to support FivePrime&#146;s global development and
registration of Licensed Prodcuts, including FivePrime&#146;s global Phase 3 registrational trial of FPA144 in combination with FOLFOX in front-line gastric and gastroesophageal cancer (the &#147;<U><FONT STYLE="white-space:nowrap">FPA144-004</FONT>
Study</U>&#148;) in the Territory under a global development plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Agreement, Zai will make an upfront payment of
$5&nbsp;million to FivePrime. Additionally, with respect to each Licensed Product, FivePrime will be eligible to receive up to $39&nbsp;million in specified developmental and regulatory milestone payments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Zai will also be obligated to pay FivePrime a royalty, on a Licensed
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Product-by-Licensed</FONT></FONT> Product and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">region-by-region</FONT></FONT> basis, in the high teens or low
twenties, depending on the number of patients Zai enrolls in the <FONT STYLE="white-space:nowrap">FPA144-004</FONT> Study, subject to reduction in certain circumstances, on net sales of each Licensed Product in the Territory until the latest of
(i)&nbsp;the 11th anniversary of the first commercial sale of such Licensed Product in such region, (ii)&nbsp;the expiration of certain patents covering such Licensed Product in such region, and (iii)&nbsp;the date on which any applicable
regulatory, pediatric, orphan drug or data exclusivity with respect to such Licensed Product expires in such region. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the Agreement,
provided that Zai enrolls and treats a specified number of patients in the <FONT STYLE="white-space:nowrap">FPA144-004</FONT> Study in China, Zai is eligible to receive a low single-digit percentage royalty, on a Licensed <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Product-by-Licensed</FONT></FONT> Product basis on net sales of a Licensed Product outside the Territory until the 10th anniversary of the first commercial sale of each such Licensed
Product outside the Territory. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unless earlier terminated by either party, the Agreement will expire on a Licensed <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Product-by-Licensed</FONT></FONT> Product and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">region-by-region</FONT></FONT> basis upon the expiration of Zai&#146;s
payment obligations with respect to each Licensed Product under the Agreement. Zai may terminate the Agreement in its entirety at any time with advance written notice. Either party may terminate the Agreement in its entirety with written notice for
the other party&#146;s material breach if such party fails to cure the breach. FivePrime may terminate the Agreement in its entirety with written notice for Zai&#146;s material breach of its diligence obligations with respect to development and
obtaining marketing approval, and may terminate the agreement on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">region-by-region</FONT></FONT> basis for Zai&#146;s breach of its diligence obligations with respect to timely
commercialization of a Licensed Product in a region following marketing approval. FivePrime may terminate the agreement in its entirety if Zai or its affiliates or sublicensees commences a legal action challenging the validity, enforceability or
scope of any of FivePrime&#146;s patents in the Territory. Either party also may terminate the Agreement in its entirety upon certain insolvency events involving the other party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the Agreement is only a summary and is qualified in its entirety by reference to the Agreement, a copy of which
will be filed as an exhibit to Zai&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">20-F</FONT> for the fiscal year ending December&nbsp;31, 2017. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Zai has filed as an exhibit to this Form <FONT STYLE="white-space:nowrap">6-K</FONT> a press release dated December&nbsp;19, 2017 announcing
the entry into the Agreement. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="12%"></TD>
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<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>ZAI LAB LIMITED</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Samantha Du</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Samantha Du</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: December&nbsp;19, 2017 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT&nbsp;INDEX </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release issued December&nbsp;19, 2017</TD></TR>
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<DESCRIPTION>EX-99.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 99.1 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Five Prime Therapeutics and Zai Lab Announce Exclusive License Agreement for FPA144 Anti-FGFR2b Antibody in Greater China and Global Strategic Development
Collaboration </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Planned global Phase 3 FIGHT trial in front-line gastric and gastro-esophageal junction cancers to include sites in China where
disease incidence is the highest in the world </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOUTH SAN FRANCISCO, Calif. and SHANGHAI, China,&nbsp;Dec. 19, 2017&nbsp;&#151;&nbsp;Five Prime
Therapeutics, Inc.&nbsp;(NASDAQ: FPRX), a biotechnology company discovering and developing innovative immuno-oncology protein therapeutics, and Zai Lab Limited (NASDAQ: ZLAB), a&nbsp;Shanghai-based innovative biopharmaceutical company,&nbsp;today
announced an exclusive license agreement for FPA144 in Greater China and global strategic development collaboration. Five Prime&#146;s FPA144 is a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">first-in-class</FONT></FONT>
isoform-selective, humanized monoclonal antibody in clinical development as a targeted immuno-therapy for tumors that overexpress FGFR2b, including gastric and gastro-esophageal junction cancer. China has one of the highest incidence rates of
gastric cancer in the world, with approximately 680,000 new cases annually.<SUP STYLE="font-size:85%; vertical-align:top">1,2</SUP>&nbsp;The randomized, controlled Phase 3 portion of the FIGHT trial evaluating FPA144 plus chemotherapy is expected to
start in the second half of 2018 and would serve as a global registrational study for the treatment of front-line gastric and gastro-esophageal junction cancers. Zai Lab will manage the Phase 3 portion of the trial in China. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We believe Zai Lab is the right partner for FPA144 in Greater China for this innovative product,&#148; said Aron Knickerbocker, Chief Operating Officer
of Five Prime and incoming Chief Executive Officer (effective January&nbsp;1, 2018). &#147;China accounts for more than 40% of new gastric cancer cases globally<SUP STYLE="font-size:85%; vertical-align:top">2</SUP>, so it is critical to align
strategically with a strong collaborator with the infrastructure, relationships and resources to help us advance FPA144 global development expeditiously. Zai Lab is ideally positioned given their experienced leadership team, focus on innovative
drugs, and established expertise and network within oncology. We look forward to working with Zai Lab to carry out our worldwide development program for FPA144 and accelerate enrollment in the global Phase 3 portion of the FIGHT trial.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Five Prime has pioneered the development of some very exciting and highly-targeted antibodies, including FPA144, which we believe holds tremendous
promise for cancer patients in Greater China. We are committed to working with Five Prime to accelerate the global development timelines for this important investigational therapy,&#148; stated&nbsp;Samantha Du, Chairman and CEO of&nbsp;Zai
Lab.&nbsp;&#147;This strategic collaboration highlights the strength of our team and business model as the partner of choice in China and in delivering innovative therapies to patients in China and beyond.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the terms of the agreement, Five Prime has granted Zai Lab an exclusive license to develop and commercialize FPA144 in the Greater China territory:
China, Hong Kong, Macau, and Taiwan. Zai Lab will be responsible for conducting the Phase 3 FIGHT trial in Greater China, including screening, enrollment and treatment of patients, and for commercialization of
</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
FPA144 in the Greater China territory. Five Prime will manufacture and supply FPA144 for the study. A Joint Steering Committee will be formed between the companies to oversee development,
regulatory and commercialization activities in greater China. Five Prime will receive a $5&nbsp;million upfront payment and is eligible to receive up to $39&nbsp;million in development and regulatory milestone payments. Five Prime is also eligible
to receive from Zai Lab a royalty percentage on net sales of FPA144 in Greater China ranging from the high teens to the low twenties. Given the strategic importance of China to the development and commercialization of FPA144 and to align the
interests of the two companies globally, Zai Lab is also eligible to receive a low single-digit royalty from Five Prime on net sales of FPA144 outside of Greater China. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Gastric cancer is the fifth most common cancer in the world and the second most common in China. Patients whose tumors overexpress FGFR2b or have
<I>FGFR2</I> gene amplification have an especially poor prognosis,&#148; said Dr.&nbsp;Shukui Qin, the Executive Member of the Asian Clinical Oncology Society, Senior Vice President of Chinese Society of Clinical Oncology and the Director of Cancer
Center of People&#146;s Liberation Army. &#147;I am encouraged that we may be able to identify those patients with companion diagnostics and potentially treat them more effectively with a highly targeted therapy like FPA144. There is a critical need
for more effective and safe therapies for gastric cancer patients here, so I am pleased that I and my fellow oncologists throughout China can play an important role in the FIGHT trial.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About FPA144 </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">FPA144 is an isoform-selective, humanized
monoclonal antibody in clinical development as a targeted immuno-therapy for tumors that overexpress FGFR2b, a splice variant of a receptor for some members of the fibroblast growth factor (FGF) family. FPA144 has also been engineered for enhanced
antibody-dependent cell-mediated cytotoxicity (ADCC) to increase direct tumor cell killing by recruiting natural killer (NK) cells. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">FPA144 is being
evaluated as a potential treatment for gastric cancer and bladder cancer. In a Phase 1 trial, FPA144 demonstrated monotherapy activity in heavily <FONT STYLE="white-space:nowrap">pre-treated</FONT> patients with FGFR2b-positive gastric cancer and
did not exhibit certain toxicities that have been seen with less selective FGFR2 small molecule therapeutics. An estimated 10% patients with gastric cancer have tumors that overexpress FGFR2b or have FGFR2 gene amplification, which is associated
with poor prognosis. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Five Prime </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Five Prime
Therapeutics, Inc.&nbsp;(NASDAQ:FPRX) discovers and develops innovative therapeutics to improve the lives of patients with serious diseases. Five Prime&#146;s comprehensive discovery platform, which encompasses virtually every medically relevant
extracellular protein, positions it to explore pathways in cancer, inflammation and their intersection in immuno-oncology, an area with significant therapeutic potential and a growing focus of the company&#146;s R&amp;D activities. Five Prime has
entered into strategic collaborations with leading global pharmaceutical companies and has promising product candidates in clinical and late preclinical development. For more information, please visit&nbsp;<U>www.fiveprime.com</U>. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About&nbsp;Zai Lab </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zai Lab&nbsp;(NASDAQ:ZLAB) is a&nbsp;Shanghai-based innovative biopharmaceutical company focused on bringing transformative medicines for cancer, autoimmune
and infectious diseases to patients in&nbsp;China&nbsp;and around the world. The company&#146;s experienced team has secured partnerships with leading global biopharma companies, generating a broad pipeline of innovative drug candidates targeting
the fast-growing segments of China&#146;s pharmaceutical market and global unmet medical needs. Zai Lab&#146;s vision is to become a fully integrated biopharmaceutical company, discovering, developing, manufacturing and commercializing its
partners&#146; and its own products in order to impact human health worldwide. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Five Prime Forward-looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as
&#147;may,&#148; &#147;will,&#148; &#147;expect,&#148; &#147;plan,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;intend&#148; and similar expressions (as well as other words or expressions referencing future events, conditions or
circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Five Prime&#146;s expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves
risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include statements about (i)&nbsp;the timing of the initiation, progress and scope of the
FIGHT clinical trial; (ii)&nbsp;the potential use of FPA144 to treat patients with gastric and gastro-esophageal junction cancer; (iii)&nbsp;the extent of <I>FGFR2</I> gene amplification and FGFR2b protein overexpression in patients with gastric and
gastro-esophageal junction cancer; and (iv)&nbsp;Five Prime&#146;s potential receipt of milestone payments and royalties.&nbsp;Many factors may cause differences between current expectations and actual results, including unexpected safety or
efficacy data observed during <FONT STYLE="white-space:nowrap">non-clinical</FONT> or clinical studies, clinical site activation rates or clinical trial enrollment rates that are lower than expected and changes in expected or existing
competition.&nbsp;Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Five Prime&#146;s filings with the&nbsp;U.S. Securities and Exchange
Commission, including the &#147;Risk Factors&#148; contained therein. Except as required by law, Five Prime assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new
information becomes available.</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Zai Lab Forward-Looking Statements</B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release includes certain disclosures which contain &#147;forward-looking statements,&#148; including, without limitation, statements regarding
timing of the initiation, progress and scope of the FIGHT clinical trial, the potential use of FPA144 to treat patients with gastric and gastro-esophageal junction cancer, Five Prime&#146;s potential receipt of milestone payments and royalties from
Zai Lab and Zai Lab&#146;s potential receipt of royalties from Five Prime. You can identify forward-looking statements because they contain words such as &#147;believes&#148; and &#147;expects.&#148; Forward-looking statements are based on Zai
Lab&#146;s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the
forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are
set forth in </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Zai Lab&#146;s filings with the&nbsp;Securities and Exchange Commission.&nbsp;Zai Lab&nbsp;undertakes no obligation to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be required by law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>REFERENCES: </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD ALIGN="left" VALIGN="top"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>Translational Gastrointestinal Cancer, Vol 2, Supplement 1 (June 2013); <I>A current view of gastric cancer in China,</I> Zhaode Bu, Jiafu Ji </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2</TD>
<TD ALIGN="left" VALIGN="top">CA: A Cancer Journal for Clinicians, 25&nbsp;January 2016; <I>Cancer statistics in China, 2015, </I>Wanqing Chen et al </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FIVE PRIME CONTACT</B>:</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Derek Cole </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investor Relations Advisory Solutions </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">720-785-4497</FONT></FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>derek.cole@iradvisory.com </U></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ZAI LAB CONTACTS: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zai Lab </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jonathan Wang </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+86 21 6163 2588 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>jwang@zailaboratory.com </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Trout Group </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">John Graziano </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 646 378 2942 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>jgraziano@troutgroup.com </U></P>
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