Deepull has raised €50m in an oversubscribed Series C financing round, co-led by Columbus Venture Partners, Mérieux Equity Partners, and Panakès Partners.
Existing investors Aliath Bioventures, Asabys Partners, Axis-ICO, Innvierte-CDTI, Kurma Partners, UI Investissement, and We Venture Capital also participated in the funding round.
The medical diagnostics company intends to use the proceeds from the funding to support the advancement of its UllCORE diagnostic system.
Panakès Partners principal Alessio Piuma said: “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.”
Columbus Venture Partners CIO partner Jose Mesa said: “We are thrilled to support Deepull’s vision as it transitions towards commercialisation to impact the management of patients with sepsis.”
Mérieux Equity Partners managing partner Valérie Calenda said: “We identified the company at a very early stage a few years ago and are excited by its breakthrough technology that could radically transform the diagnosis and treatment of sepsis.”
Deepull will finalise clinical validation and expedite the regulatory approval process for the UllCORE system, designed to rapidly identify pathogens without the need for culture.
The system leverages advanced molecular techniques to extract and detect microbial DNA directly from whole blood.
In December last year, Deepull received the US Food and Drug Administration (FDA) Breakthrough Device Designation for the UllCORE system.
UllCORE’s multiplex PCR test can identify 95% of sepsis-causing pathogens, including bacteria, fungi, and antibiotic resistance genes, delivering crucial results in about one hour.
Deepull CEO Jordi Carrera said: “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.”
Deepull Board of Directors chairman Rick Ivey said: “The strong support and oversubscription in this financing round reflect both the strength of deepull’s technology and its potential to redefine diagnostic standards.”
