Zai Lab Ltd., of Shanghai, filed for an initial public offering in the U.S., seeking to raise $115 million. No other details were revealed. In June 2017 Zai raised $30 million in a series C preferred equity financing round. The Zai pipeline includes the China rights for ZL-2306, Waltham Mass.-based Tesaro Inc.'s ovarian and breast cancer PARP 1 and 2 inhibitor. But the late-stage preclinical candidate most likely to go to IND first is XL-2301 (brivanib), licensed from Bristol-Myers Squibb Co., of New York.