Cytovale Completes $100 Million Series D Funding to Accelerate Commercial Expansion of its Rapid Sepsis Solution

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Oct 10, 2024, 08:30 ET

In the first 12 months on market, the ~8-minute FDA-cleared IntelliSep test has helped hospitals save lives and money while delivering patient-centered care
These real world outcomes attracted investors to help accelerate commercialization and arm emergency departments across the U.S. with this early sepsis detection technology

SAN FRANCISCO, Oct. 10, 2024 /PRNewswire/ -- Cytovale^®, a commercial-stage medical diagnostics company focused on advancing early detection technologies to diagnose fast-moving and immune-mediated diseases, today announced it has raised $100 million in Series D funding led by Sands Capital. The round included participation from new investor Canada Pension Plan Investment Board (CPP Investments), as well as existing investors Norwest Venture Partners, Global Health Investment Corporation and Breakout Ventures, an early backer of the company. Cytovale will use the funding to build upon its early clinical success and accelerate commercial expansion of IntelliSep to more hospital emergency departments (ED) and health systems nationwide.

"Sepsis is the largest single condition presenting to the Emergency Department where there hasn't been an effective diagnostic to quickly and effectively triage patients. Cytovale's IntelliSep test has now been demonstrated, prospectively, to help save lives and money by doing just that," said Parker Cassidy, partner, Sands Capital. "We're excited to lead this financing and help accelerate Cytovale's commercial launch."

IntelliSep is the first and only U.S. Food and Drug Administration (FDA)-cleared cellular host diagnostic indicated for use in the ED, where over 80% of sepsis cases present. The test, which takes only approximately eight minutes, provides clinicians a first-ever look into the biology that causes sepsis, enabling care teams to quickly and confidently identify the proper diagnosis and deliver appropriate, patient-centered care.

"Seeing sepsis is a major breakthrough; IntelliSep allows our care teams in the Emergency Department to quickly and accurately triage and diagnose suspected infection patients and put them on the right path for treatment," said Dr. Christopher Thomas, chief quality officer, Franciscan Missionaries of Our Lady Health System. "The meaningful clinical, operational and financial benefits we have experienced have led us to implement IntelliSep across all major hospitals in our health system."

IntelliSep launched in August 2023 at Our Lady of the Lake Regional Medical Center in Baton Rouge, La. The hospital has reported that, as a result of an IntelliSep-driven screening process, patients with occult sepsis were detected earlier and had treatment initiated more than 60 minutes faster. The hospital also saw a 30% decrease in the risk-adjusted mortality index for sepsis patients. From an operational and financial perspective, patients tested with IntelliSep spent 1.28 fewer days in the hospital, and realized a savings of $1,400 per patient.

"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. Thankfully, that's 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," said Cytovale CEO Ajay Shah, PhD. "Cytovale is growing at an astounding pace to meet demand from other health systems looking to tackle this deadly condition. The additional investment will enable us to quickly scale across the U.S. with greater agility to serve health systems and their patients."

About Cytovale^®Cytovale is committed to improving patient care by pioneering early detection technologies that assess immune activation to accelerate the time it takes to get from triage to life-saving therapies. Cytovale's U.S. Food and Drug Administration-cleared rapid sepsis diagnostic, IntelliSep^®, leverages machine learning and advanced microfluidics to provide Emergency Department clinicians with an objective and highly sensitive early detection tool for sepsis. IntelliSep measures the dysregulated immune system response to infection that would indicate sepsis and generates results in about eight minutes using a standard blood draw. Cytovale is based in San Francisco and venture-backed by Norwest Venture Partners, Sands Capital, Global Health Investment Corporation (GHIC), CPP Investments, Breakout Ventures and other leading investors. For more information, visit www.cytovale.com and follow Cytovale on LinkedIn and X.

SOURCE Cytovale