During Q2, biopharmas brought in an aggregate $12.5bn in financing and device company fundraising totaled $3.7bn; while in vitro diagnostic firms and research tools players raised $720m.

€24m loan from the European Investment Bank with match funding will progress Phase IIb antifungal Olorofim in invasive aspergillosis. CFO Ralf Schmid goes into details with Scrip.

Emerging Company Profile: Macrophage Pharma is using novel chemistry to deliver therapies directly into tumor-associated macrophages, switching their activity from immunosuppressive to immuno-stimulatory to initiate anti-tumor immune responses.

Venture capital investment fell $2.1bn to $7.79bn in 2016, but it was still the second-best year of VC funding for biopharma firms since 2006. Also, Venrock and Correlation closed new health care and technology funds and 10 companies raised $126.8m.