deepull Secures €50 Million in Oversubscribed Series C Financing
deepull, an innovative medical diagnostics company, has successfully closed an oversubscribed Series C financing round, raising a remarkable €50 million to advance its UllCORE diagnostic system aimed at rapid pathogen detection directly from blood samples.
Key Investors Backing the Funding
This significant funding round was co-led by noted investors including Columbus Venture Partners, Panakès Partners, and Mérieux Equity Partners. Their commitment to deepull's vision highlights the growing confidence in the potential of breakthrough diagnostic technologies. The financing saw robust participation from existing investors such as Asabys Partners, Innvierte-CDTI, and others, underscoring the interest in innovative healthcare solutions.
Deployment of Funds and Clinical Validation
The proceeds from this financing will be directed towards finalizing the clinical validation of deepull’s UllCORE diagnostic system, which is poised to revolutionize the way bloodstream infections are diagnosed. This system has received the prestigious Breakthrough Device Designation from the U.S. Food and Drug Administration, reflecting its promise in the medical field.
UllCORE employs advanced molecular techniques for detecting and extracting microbial DNA directly from whole blood, minimizing the time required to identify pathogens. Practitioners can expect critical results within an hour, vastly improving the current standard that often requires days of waiting for blood culture test results.
Addressing the Urgent Challenge of Sepsis Diagnosis
Sepsis remains a leading cause of hospital deaths globally, with dire implications for healthcare systems. It causes or contributes to one out of every three hospital fatalities in the U.S., and septic shock carries an alarmingly high mortality rate. This urgent need for rapid diagnosis and treatment emphasizes the importance of deepull’s innovative approach.
Historically, diagnosing bloodstream infections has been complicated and time-consuming. The symptoms of sepsis are often vague and difficult to recognize, making swift and accurate diagnosis vital for patient survival.
Leadership Insights on the Financing
Jordi Carrera, CEO of deepull, expressed his enthusiasm regarding this critical financing milestone: "This financing marks a critical step forward for deepull as we move towards completing the clinical studies of our diagnostic system. With this support, we are poised to deliver a transformative diagnostic solution to healthcare providers and patients worldwide."
Rick Ivey, Chairman of the Board of Directors at deepull, underlined the overwhelming support from investors, stating, "The strong support and oversubscription in this financing round reflect both the strength of deepull's technology and its potential to redefine diagnostic standards."
Industry Support for deepull’s Vision
Industry leaders have expressed confidence in deepull’s trajectory. Alessio Piuma from Panakès Partners remarked, "We searched at length for an optimal solution in the sepsis space and we are extremely glad to support deepull. Its promising UllCORE system has the potential to overcome the serious challenges faced by clinicians in the diagnosis of sepsis. "
Moreover, Jose Mesa from Columbus Venture Partners emphasized their commitment, stating, "We are thrilled to support deepull's vision as it transitions towards commercialization to impact the management of patients with sepsis." Valérie Calenda from Mérieux Equity Partners also noted her excitement for the technology, indicating a shared investment in its potential impact on healthcare.
About deepull and Its Innovations
deepull is dedicated to developing cutting-edge, culture-free diagnostic solutions for sepsis and acute infections. The company is currently focusing on the UllCORE BSI Test, designed to target 95% of pathogens causing sepsis. The test effectively extracts total microbial DNA from just 8mL of blood, generating 52 reportable results. Its automation capabilities are designed to fulfill the needs of any clinical laboratory, enhancing efficiency and patient care.
Frequently Asked Questions
What funding did deepull secure recently?
Deepull secured €50 million in an oversubscribed Series C financing round.
Who led the financing round?
The round was co-led by Columbus Venture Partners, Panakès Partners, and Mérieux Equity Partners.
What is the UllCORE diagnostic system?
The UllCORE system is a diagnostic technology designed for rapid pathogen detection from blood samples, providing results in about an hour.
What is the significance of Breakthrough Device Designation?
This designation reflects the U.S. FDA's recognition of the UllCORE system's potential to greatly improve patient diagnosis and outcomes.
How does deepull contribute to sepsis treatment?
Deepull offers innovative solutions for diagnosing sepsis faster and more accurately, which can save lives and improve patient care.
