Cytovale, a medical diagnostics company, has raised $100m in a Series D funding round led by Sands Capital for expediting commercial expansion of its Sepsis test.
This investment will be channelled towards expanding the reach of IntelliSep, the company’s rapid sepsis diagnostic solution.
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The funding round also saw contributions from new investor Canada Pension Plan Investment Board (CPP Investments) and existing investors Global Health Investment, Norwest Venture Partners and Breakout Ventures.
IntelliSep is reputed to be the only US FDA-cleared cellular host diagnostic for emergency department use and is pivotal in the early detection of sepsis.
The test provides results in approximately eight minutes, allowing healthcare professionals to diagnose and administer targeted treatment rapidly.
Cytovale CEO Dr Ajay Shah said: “Sepsis has historically been one of the most challenging and costly conditions for hospitals to manage due to the lack of rapid, objective diagnostic tools.
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By GlobalData“Thankfully, that is finally changing with IntelliSep, which holds the potential to transform sepsis care in the same way troponin tests did for cardiac care and rapid CT scans did for stroke diagnosis.”
The introduction of IntelliSep at Our Lady of the Lake Regional Medical Centre in Baton Rouge, Louisiana, in August 2023, has already resulted in significant clinical benefits.
The hospital reported that the screening process enabled by IntelliSep facilitated the earlier detection of occult sepsis. Additionally, there was a 30% reduction in the risk-adjusted mortality index for sepsis patients, according to the company.
From a financial perspective, the use of the test has led to patients spending 1.28 fewer days in the hospital on average, resulting in a cost saving of $1,400 per patient.
In November 2023, Cytovale raised $84m in a Series C funding round to continue the launch of its sepsis diagnosis test.
