BEIJING – China-U.S. biotech Transcenta Holding Ltd., headquartered in Shanghai and  Boston, completed a series B+ financing round to secure $100 million to continue its efforts in developing oncology and bone disorder drugs and to prepare for an IPO.

Eqrx Inc., a new venture created to advance fast-follower drugs that founding CEO Alexis Borisy said will be priced "radically lower" than first-in-class medicines, launched with $200 million in series A financing.

Med-tech companies brought in more money than each of the last two years in every type of financing, aside from private placements, with about 11% of the funds flowing into digital health companies. In total, the industry raised $40.67 billion, an increase of 98% over 2018, which logged $20.6 billion and was more in line with the $19.4 billion raised in 2017.