The funding will accelerate the rollout of a rapid diagnostic test that helps emergency departments quickly identify and treat sepsis.
RT’s Three Key Takeaways:
- Funding Secured: Cytovale has raised $100 million in Series D funding to expand its FDA-cleared rapid sepsis diagnostic across US hospitals.
- Faster Sepsis Detection: The diagnostic tool can identify sepsis in about eight minutes, enabling quicker diagnosis and treatment in emergency departments.
- Improved Patient Outcomes: Early results show the tool reduces mortality, shortens hospital stays, and saves costs for sepsis patients.
Commercial-stage medical diagnostics company Cytovale announced it has raised $100 million in Series D funding to scale its US Food and Drug Administration-cleared rapid sepsis solution, IntelliSep.
The round was led by Sands Capital and included participation from new investor Canada Pension Plan Investment Board, 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 the commercial expansion of IntelliSep to more hospital emergency departments 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,” says Parker Cassidy, partner, Sands Capital, in a release. “We’re excited to lead this financing and help accelerate Cytovale’s commercial launch.”
Allowing Care Teams to ‘See’ Sepsis
IntelliSep is a cellular host diagnostic indicated for use in the emergency department, where over 80% of sepsis cases present. The test, which takes only approximately eight minutes, provides clinicians a first 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,” says Christopher Thomas, MD, chief quality officer, Franciscan Missionaries of Our Lady Health System, in a release. “The meaningful clinical, operational, and financial benefits we have experienced have led us to implement IntelliSep across all major hospitals in our health system.”
Quicker Patient Care
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,” says Cytovale CEO Ajay Shah, PhD, in a release. “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 US with greater agility to serve health systems and their patients.”
ID 143764115 © Chris Dorney | Dreamstime.com
