The Phase III PIONEER study in indolent systemic mastocytosis met the primary endpoint, but the magnitude of benefit came up short of analysts’ expectations.

Private Company Edition: Sironax completed a $200m series B round while IDRx launched with $122m and OriCell raised $120m in series C funds, joining end-of-July $100m-plus fundraiser Carmot Therapeutics, which closed a $160m series D financing. 

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.

Health technology assessment institute NICE said that uncertainty in the clinical evidence for Gavreto means that cost-effectiveness estimates are also uncertain for the drug, which is approved for treating RET fusion-positive advanced non-small cell lung cancer and is reimbursed in 10 European countries.