Cytovale, a commercial-stage medical diagnostics company focused on advancing early detection technologies to diagnose fast-moving and immune-mediated diseases, announced it has raised $100 million in Series D funding led by Sands Capital. The funding round included participation from new investor Canada Pension Plan Investment Board (CPP Investments) and existing investors Norwest Venture Partners, Global Health Investment Corporation, and Breakout Ventures (an early investor of the company).
Cytovale will use this funding to build upon its early clinical success and accelerate the commercial expansion of IntelliSep to more hospital emergency departments (ED) and health systems nationwide.
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 are present. The test—which takes only approximately eight minutes—provides clinicians with 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.
IntelliSep launched in August 2023 at Our Lady of the Lake Regional Medical Center in Baton Rouge, La. And 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. This 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.
KEY QUOTES:
“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. We’re excited to lead this financing and help accelerate Cytovale’s commercial launch.”
-Parker Cassidy, partner, Sands Capital
“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. The meaningful clinical, operational and financial benefits we have experienced have led us to implement IntelliSep across all major hospitals in our health system.”
-Dr. Christopher Thomas, chief quality officer, Franciscan Missionaries of Our Lady Health System
“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. 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.”
-Cytovale CEO Ajay Shah, PhD
