NEW YORK – Infectious disease molecular diagnostics developer DeepUll announced Tuesday that it has closed an oversubscribed €50 million ($57.0 million) Series C financing round.
The round was co-led by Columbus Venture Partners, Panakès Partners, and Mérieux Equity Partners, with participation from existing investors Asabys Partners, Innvierte-CDTI, We Venture Capital, UI Investissement, Axis-ICO, Aliath Bioventures, and Kurma Partners.
The new financing will accelerate commercialization of the Barcelona, Spain-based firm's automated PCR-based benchtop UllCore system that identifies sepsis-causing pathogens directly from blood. Specifically, the proceeds will be used to finalize clinical validation and expedite the regulatory process, DeepUll said.
UllCore uses multiplex PCR targeting 95 percent of sepsis-causing pathogens, including bacteria and fungi, as well as antibiotic resistance genes. The test extracts total microbial DNA from 8 ml of whole blood and provides 52 reportable results.
"This financing marks a critical step forward for DeepUll as we move towards completing the clinical studies of our diagnostic system," DeepUll CEO Jordi Carrera said in a statement.
DeepUll's rapid pathogen identification and antimicrobial susceptibility testing system (ID/AST) obtained breakthrough device designation from the US Food and Drug Administration in December. The firm raised €13 million in a Series B financing in 2022. It brought on Wade Stevenson, BioFire's former VP of clinical marketing for North America, last year as its chief marketing and sales officer.