Cytovale's $84 Million Funding to Revolutionise Sepsis Diagnosis in U.S. Hospitals
IntelliSep, a groundbreaking sepsis diagnosis tool, secures $84M in Series C funding, promising swift, life-saving interventions in U.S. healthcare.
Cytovale, led by CEO Ajay Shah, has successfully secured a substantial $84 million in a Series C funding round. This investment is earmarked for the expansion of IntelliSep, Cytovale's pioneering rapid sepsis diagnosis test, across hospitals in the United States.
Spearheaded by Norwest Venture Partners with Zack Scott as a general partner, this funding round represents a significant stride in addressing the pressing issue of delayed sepsis diagnosis, a problem that incurs an alarming annual cost of $62 billion.
The funding round also witnessed Sands Capital and GHIC participation, alongside a blend of new and existing investors. TD Cowen played a crucial role as the financial advisor during this pivotal fundraising process. The IntelliSep test distinguishes itself in the medical field by delivering results within a remarkably swift 10-minute timeframe.
This test operates by exerting pressure on white blood cells and employing machine learning technology to analyse their responses. The outcome is a score that indicates the likelihood of a patient having or developing sepsis within a three-day window, a crucial factor for healthcare providers to promptly determine necessary treatment steps.
The implementation of IntelliSep has already commenced in select hospitals, including Our Lady of the Lake Regional Medical Center, which was the first to adopt this technology. The introduction of IntelliSep has led to a significant reduction in all-hands-on-deck alerts, thereby streamlining the hospital's response to potential sepsis cases.
Chris Thomas from Franciscan Missionaries of Our Lady Health System underscored IntelliSep's impact, noting that it enables them to focus resources on the most critical patients. By accurately diagnosing sepsis, IntelliSep aids in avoiding both overdiagnosis and underdiagnosis—issues that can lead to unnecessary medical costs and adverse health outcomes.
Cytovale's mission is inextricably linked with improving human health through innovative diagnostic solutions like IntelliSep. Meanwhile, Norwest Venture Partners continues to manage an extensive capital portfolio exceeding $12.5 billion, supporting ventures that demonstrate potential in enhancing healthcare delivery and outcomes.
For more detailed information, please refer to the original article on Investing.com here.