Zai Lab Launches its first Trust Report

Rhea-AI Summary

Zai Lab has launched its 2022 Trust Report, detailing its ESG strategy called 'Trust for Life.' The strategy encompasses three commitments: to improve human health, create better outcomes, and act right now. Aiming to reach one million patients by 2030, Zai Lab emphasizes diversity within its workforce, with women representing 58% of employees. The company has also achieved base pay equity and aims for net zero greenhouse gas emissions. Notably, Zai's sustainability efforts received a score of 41 from S&P Global, reflecting a 27-point improvement from 2021.

Positive

• Zai Lab aims to reach one million patients by 2030.
• The company achieved a S&P Global sustainability score of 41, up from 14 in 2021.
• 58% of Zai employees are women, with 53% in STEM roles, showcasing gender diversity.

Negative

• None.

Outlines Company’s ESG Strategy through its Trust for Life Commitments

• Zai Lab is committed to earning your trust through our environmental, social, and governance (ESG) strategy, which we are calling Trust for Life
  
• Zai’s Trust for Life strategy includes three commitments to improve human health, create better outcomes, and act right now
  
• Zai’s goal is to reach one million patients by 2030
  

SHANGHAI and CAMBRIDGE, Mass., Oct. 14, 2022 (GLOBE NEWSWIRE) -- Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688), a patient-focused, innovative, commercial-stage, global biopharmaceutical company, today announced the launch of its 2022 Trust Report.

Zai Lab recognizes the importance of building and maintaining trust for life from the various stakeholders we serve, including patients, employees, healthcare professionals, communities, and investors,” said Jim Massey, Chief Sustainability Officer for Zai Lab. “We seek to earn that trust, in part, through our ESG strategy and our commitment to improve human health, create better outcomes, and act right now.

Through this report, Zai seeks to further explain our Trust for Life strategy, commitments, actions, and targets. In summary, we seek to:

1. Improve Human Health. Zai’s mission is to discover, develop, and commercialize medicines that help address significant unmet needs of patients with serious diseases. This is what motivates all that Zai does, including its continued research and development and collaborations with other leading biopharmaceutical companies to accelerate access to treatments that improve human health.
   
   Target: Reach one million patients by 2030.
   
   
2. Create Better Outcomes. Zai is focused on delivering better outcomes for patients as well as its employees and the communities it serves. To this end, Zai is committed to diversity, equity, and inclusion, including in its workforce. Regarding gender diversity, women make up 58% of Zai employees, including 53% of all STEM-related positions. Proudly, Zai has achieved base pay equity at all levels. Zai is also committed to doing our part to protect our planet. As Zai continues to grow globally, it commits to an environmental strategy that is planet positive with a target of net zero greenhouse gas emissions.
   
   Target: Maintain gender equity in leadership and base pay.
   
   
3. Act Right Now. Because every minute counts for patients facing the challenges of serious diseases and limited treatment options, Zai is committed to acting urgently and ethically, with strong corporate governance and risk management practices.
   
   Target: Complete Enterprise Risk Management (ERM) top-tier mitigation plans annually.

Zai’s approach is aligned with the United Nations Sustainable Development Goals, and in September 2022, the S&P Global Corporate Sustainability Assessment recognized Zai’s sustainability efforts with a score of 41, up 27 points from the company’s 2021 rating. Zai’s 2022 rating is consistent with the performance of much larger biotech companies.

“I’m really proud of the entire Zai Lab team for their commitment to earning trust every day through all they do,” said Josh Smiley, Chief Operating Officer, Zai Lab. “We recognize that many people may count on one or more Zai medicines for long-term benefits, and we want to make sure we build and maintain their trust for a lifetime.”

About Zai Lab

Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) is an innovative, research-based, commercial-stage biopharmaceutical company based in China and the United States focused on bringing transformative medicines for oncology, autoimmune disorders, infectious diseases, and neurological disorders to patients in China and around the world. Our goal is to leverage our competencies and resources to positively impact human health worldwide.

For additional information about Zai Lab, including our products, business activities and partnerships, research, and other events or developments, please visit www.zailaboratory.com and follow us at www.twitter.com/ZaiLab_Global.

Zai Lab Forward-Looking Statements

This press release contains forward-looking statements relating to Zai Lab’s future expectations, plans, and prospects, including, without limitation, statements regarding our ability to advance our clinical pipeline and further demonstrate our commercial and discovery capabilities and expected milestones for our products and product candidates. All statements, other than statements of historical fact, included in this press release are forward-looking statements and can be identified by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “possible,” “potential,” “will,” “would,” and other similar expressions. Such statements constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees or assurances of future performance. Forward-looking statements are based on our expectations and assumptions as of the date of this press release and are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. We may not actually achieve the plans, carry out the intentions, or meet the expectations or projections disclosed in our forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by forward-looking statements as a result of various important factors, including but not limited to (1) our ability to successfully commercialize and generate revenue from our approved products, (2) our ability to obtain funding for our operations and business initiatives, (3) the results of our clinical and pre-clinical development of our product candidates, (4) the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approvals of our product candidates, (5) the effects of the novel coronavirus (COVID-19) pandemic, including any government actions or lockdown measures taken in response, on our business and general economic, regulatory, and political conditions, (6) risks related to doing business in China, and (7) other factors identified in our most recent annual and quarterly reports and in other reports we have filed with the U.S. Securities and Exchange Commission. We anticipate that subsequent events and developments will cause our expectations and assumptions to change, and we undertake no obligation to 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. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Our SEC filings can be found on our website at www.zailaboratory.com and on the SEC’s website at www.sec.gov.

For more information, please contact:

Media: Christine Drury / Xiaoyu Chen
christine.drury@zailaboratory.com /xiaoyu.chen@zailaboratory.com 
+1 (317) 385-9227 / +86 185 0015 5011

Investor Relations: Lina Zhang
lina.zhang@zailaboratory.com  
+86 136 8257 6943

Source: Zai Lab Limited

 

FAQ

What is Zai Lab's ESG strategy?

Zai Lab's ESG strategy, called 'Trust for Life,' focuses on improving human health, creating better outcomes, and acting urgently.

What targets has Zai Lab set for its ESG initiatives?

Zai Lab aims to reach one million patients by 2030 and commits to achieving net zero greenhouse gas emissions.

How does Zai Lab demonstrate its commitment to diversity?

Zai Lab reports that 58% of its employees are women, including 53% in STEM-related positions, and has achieved base pay equity.

When was Zai Lab's 2022 Trust Report launched?

Zai Lab launched its 2022 Trust Report on October 14, 2022.

What recognition did Zai Lab receive for its sustainability efforts?

Zai Lab received a sustainability score of 41 from S&P Global, reflecting a significant improvement from its previous score.