Deepull, a medical diagnostics company developing culture-free diagnostic solutions for the rapid identification of pathogens, announces that it has closed a Series C funding round, raising EUR 50m. The round is led by Panakès Partners, Columbus Venture Partners and Mérieux Equity Partners and also features existing investors Asabys Partners, Innvierte-CDTI, We Venture Capital, UI Investissement, Axis-ICO, Aliath Bioventures and Kurma Partners.
The money raised will be used to finalise the clinical validation and accelerate the regulatory approval process of Deepull’s UllCore diagnostic system, which received Breakthrough Device Designation from the US Food and Drug Administration in December 2024. UllCore is a fully automated and transportable system that uses state-of-the-art molecular techniques to extract and detect microbial DNA directly from whole blood. The multiplex PCR test covers 95 per cent of the pathogens that cause sepsis, including bacteria and fungi, as well as antibiotic resistance genes, providing critical results to healthcare professionals in about one hour.
Sepsis causes or directly contributes to one in three hospital deaths in the US and septic shock has a 30-40% mortality rate globally. The challenge of identifying bloodstream infections for sepsis treatment is well documented, and early diagnosis is a significant challenge as symptoms are non-specific and easy to ignore. The current standard for sepsis diagnosis involves complex blood culture tests that can take days to provide results and often fail to identify pathogens in patients with suspected sepsis.
“This funding marks a major step forward for Deepull as we move towards the completion of clinical trials of our diagnostic system,” said Jordi Carrera, CEO of Deepull, in a note. “With this support, we are poised to deliver a transformative diagnostic solution to healthcare professionals and patients worldwide.
“The strong support and oversubscription in this funding round reflect both the strength of Deepull’s technology and its potential to redefine diagnostic standards,” says Rick Ivey, chairman of the board of Deepull, which is headquartered in Barcelona.
“We have long searched for an optimal solution in the area of sepsis and are extremely pleased to support Deepull. Its promising UllCore system has the potential to overcome the serious challenges physicians face in the diagnosis of sepsis,” adds Alessio Piuma, principal at Panakès Partners.
“We are excited to support Deepull’s vision in its transition to commercialisation to impact the management of sepsis patients,” says Jose Mesa, CIO partner at Columbus Venture Partners.
‘We spotted the company at an early stage a few years ago and are excited about its revolutionary technology that could radically transform the diagnosis and treatment of sepsis,’ says Valérie Calenda, managing partner of Mérieux Equity Partners.
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