QiTan Technology develops nanopore-based gene-sequencing instruments and matching reagents and consumables. Its stated applications include non-invasive prenatal testing, IVF, liquid biopsy, newborn screening, research into genetic and rare diseases, and tumor subtyping. The company undertakes independent research and development, manufacturing, and application of its products. On December 28, 2023, QiTan completed a C+ round financing of nearly RMB 100 million. The reported investors in the round are Source Code Capital and Chengdu Bio-city Fund (Guosheng Capital). The article does not disclose operating metrics or further financial terms. QiTan Technology develops, manufactures and commercializes nanopore-based gene sequencing instruments (QNome platform) along with supporting chips and reagents. The company has built a production base in Chengdu’s Tianfu International Bio‑city with nearly ¥200M invested, capable of producing 2,000 sequencers per year and 1 million reagent/chip kits. QiTan reports over 100 institutional customers across research institutes, universities, hospitals, CDCs and other application areas, and employs more than 270 staff with 75% in R&D. It has focused on domestic supply‑chain localization (over 95% domesticized) and holds a patent portfolio of more than 200 IP results, including over 100 invention patents. Following 2021 product commercialization and 2022 market expansion, the company plans to continue完善 its product matrix and accelerate launch of mid- and high-throughput sequencing platforms and additional applications in 2023. The firm emphasizes multidisciplinary talent cultivation to support R&D and mass-production scalability and intends to deepen market expansion and commercial deployment. Qitan develops nanopore gene sequencers that enable applications such as immunotyping, real-time detection of pathogens, tumor genome analysis, and intestinal flora profiling. The company plans to commercialize its nanopore sequencing equipment this year, which would make it the first Chinese firm and only the second in the world to bring fourth-generation sequencing to market. Qitan expects its sequencers to be competitively priced at about CNY100,000 (USD15,630) each, with per-sequencing costs under CNY1,000 (USD156.30), enabling cost savings for small laboratories and research institutes handling limited samples. The firm has completed a Series B financing, providing capital to support its market launch and commercialization. The article situates Qitan within a large addressable market: global DNA sequencing is projected at USD17.6 billion this year and the Chinese market at CNY20.5 billion (USD3.2 billion). It also notes current market concentration, with Illumina holding roughly 80% and having sold USD276 million of sequencers in the first three quarters of last year.

Total raised

$177M

Funding rounds

3

Latest round

Series C

Latest activity

Dec 2023