SAN FRANCISCO, Oct. 10, 2024 /PRNewswire/ -- Cytovale®, a commercial-stage medical diagnostics company focused on advancing early detection technologies to diagnose fast-moving and immune-mediated diseases, today announced it has raised $100 million in Series D funding led by Sands Capital. The round included participation from new investor Canada Pension Plan Investment Board (CPP Investments), as well as existing investors Norwest Venture Partners, Global Health Investment Corporation and Breakout Ventures, an early backer of the company. Cytovale will use the funding to build upon its early clinical success and accelerate commercial expansion of IntelliSep to more hospital emergency departments (ED) and health systems nationwide.
"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," said Parker Cassidy, partner, Sands Capital. "We're excited to lead this financing and help accelerate Cytovale's commercial launch."