The health care sector continues to be strong and adaptable despite the challenges over the past year, according to a report by global investment bank Jefferies. High interest rates, geopolitical uncertainty and policy shifts have added caution to the industry, but leaders are adapting well.

Medtronic plc posted solid fiscal year second-quarter results led by the cardiovascular business with 9.3% growth. The Affera Sphere-9 pulsed field ablation system tripled the company’s sales in the hot PFA segment and pushed the cardiac ablation solutions unit to 71% growth, a nice uptick from the nearly 50% seen in its Q1.

DNA damage response specialist Artios Ltd. has closed an oversubscribed $115 million series D after delivering positive phase I/IIa data for its two lead programs.

Fresh cash infusions are on the way for European biotech after two leading venture capital firms announced large new funds. Asset-focused Medicxi has closed an oversubscribed €500 million (US$580 million) fund, while Sofinnova Partners exceeded its target of €500 million to close its Capital XI fund at €650 million (US$753.5 million).

While Europe’s biotech sector continues to face headwinds, med tech appears to be weathering the storm more effectively. Uncertainty in the U.S., heightened competition from China and a persistent lack of capital are all impacting the investment landscape, delegates heard at the LSX Investival Showcase in London.

A rapid diagnostic test from Ocean Dx SAS delivered gold standard performance in a clinical evaluation that points to a potential shift in how sepsis is identified and treated. The assay, which detects more than 1,000 bacterial species directly from whole blood, returned 100% sensitivity and 100% specificity compared with reference blood cultures, with results reported in five hours. Further, the test tripled the number of infections identified.

Fifteen years since the first patient was treated, and after being ditched by two companies, the EMA is recommending approval of Waskyra (etuvetidigene autotemcel), the first gene therapy for treating Wiskott-Aldrich syndrome.

Withings SA received U.S. FDA clearance for Beamo, its health check-up tool designed to monitor heart and lung function. Described as the ‘thermometer of the future’, Beamo combines the sensors of an electrocardiogram, a stethoscope and a thermometer into a hand-held device to allow users to check their body temperature, cardiac and pulmonary health in less than a minute.

Phase III data from Novartis AG for the malaria treatment Ganlum (KLU-156) show it met the primary endpoint of noninferiority to the current standard of care, Coartem, a combination of artemether and lumefantrine. The results are a step to curbing a problem that has seen rising numbers in recent years.

Siemens AG will deconsolidate its remaining 67% stake in Siemens Healthineers AG to a significant minority as it looks to have greater flexibility in capital allocation. The company will transfer 30% of Siemens Healthineers shares to Siemens AG shareholders via a spin-off to unlock long-term value and allow both companies to fully realize their growth potential.