While the fourth quarter (Q4) of 2022 raised the most money of any quarter this year, the overall amount collected through med-tech financings – $38.3 billion – is still 22.3% less than 2021’s $49.3 billion raised.

Qitan Technology Co. Ltd. has raised ¥700 million (US$104 million) in a series C round led by Meituan Inc. to improve its nanopore sequencing devices and expand its market.

Iaso Biotherapeutics Inc. raised ¥500 million (US$75 million) in a series C1 round as looks for its first drug approval by China after its NDA was accepted for what is claimed to be the first B-cell maturation antigen-targeting CAR T-cell therapy in China.