Monday, February 26, 2024

Machine learning medical diagnostics company Cytovale scores $84M -Dlight News

Cytovale, a medical diagnostics company focused on developing technology that helps diagnose diseases, announced that it has scored $84 million in Series C funding, led by Norwest Venture Partners, with participation from other investors. 

WHAT IT DOES

Cytovale offers its diagnostic test, IntelliSep, which received FDA 510(k) clearance last year. The test aims to assist in the early detection of sepsis, an inappropriate immune response to infection that can result in death. 

It assesses cellular host response and is intended to be used in conjunction with clinical assessments and laboratory findings. 

The California-based company will use the funds to bring its IntelliSep to more emergency departments and health systems nationwide. 

“Sepsis is a dangerous, fast-moving condition that can result in death if not identified and treated quickly,” said Cytovale CEO Ajay Shah. “Our flagship diagnostic tool, IntelliSep, with a blood-to-answer time frame of under 10 minutes, helps healthcare providers recognize sepsis early and make critical, time-sensitive clinical decisions. With the support of our investors, we are now able to expand efforts to get our tool in the hands of more providers so they can address the potential deadly outcomes patients currently face.”

THE LARGER TREND

In 2021, sepsis was related to 330.9 deaths per 100,000 people over 65 years of age, according to the CDC

AITRICS is another company utilizing technology to detect sepsis. The company developed VitalCare, an AI software for predicting a patient’s risk of cardiac arrest, sepsis and death within four to six hours in the ICU.

TIIM Healthcare is an AI health technology company in Singapore that received an exclusive IP license to commercialize a novel technology developed by the Duke-NUS Medical School to identify patients at risk of dying from sepsis. 

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