Deepull secures oversubscribed €50 million Series C financing to advance UllCORE diagnostic system for direct-from-blood rapid pathogen detection

READ THIS NEWS IN SPANISH

Round co-led by Columbus Venture Partners, Panakès Partners and Mérieux Equity Partners

Deepull, a medical diagnostics company developing culture-free diagnostic solutions for rapid pathogen identification, announced today the successful closing of an oversubscribed Series C financing round, raising €50 million. The round was co-led by prominent investors Columbus Venture Partners, Panakès Partners, and Mérieux Equity Partners. The financing round also had strong participation from existing investors Asabys Partners, Innvierte-CDTI, We Venture Capital, UI Investissement, Axis-ICO, Aliath Bioventures, and Kurma Partners.

Proceeds from the Series C will be deployed to finalize clinical validation and expedite the regulatory approval process of deepull’s UllCORE diagnostic system, which received Breakthrough Device Designation from the U.S. Food and Drug Administration in December 2024. UllCORE is a fully automated, walkaway system, which uses cutting edge molecular techniques to extract and detect microbial DNA directly from whole blood. The multiplex PCR test covers 95% of sepsis-causing pathogens, including bacteria and fungi, as well as antibiotic resistance genes, providing critical results to caregivers in about one hour.

Sepsis directly causes or contributes to 1 in 3 US hospital deaths, and septic shock has a mortality rate of 30-40% globally. The challenge to identify bloodstream infections for treating sepsis is well documented, with early diagnosis posing a significant challenge as the symptoms are non-specific and easy to miss. The current standard for sepsis diagnosis involves complex blood culture tests which can take days to deliver results and often fail to identify pathogens in patients suspected of sepsis.

“This financing marks a critical step forward for deepull as we move towards completing the clinical studies of our diagnostic system,” said Jordi Carrera, CEO of deepull. “With this support, we are poised to deliver a transformative diagnostic solution to healthcare providers and patients worldwide.”

“The strong support and oversubscription in this financing round reflect both the strength of deepull’s technology and its potential to redefine diagnostic standards,” commented Rick Ivey, Chairman of the Board of Directors at deepull.

“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,” commented Alessio Piuma, Principal at Panakès Partners.

“We are thrilled to support deepull’s vision as it transitions towards commercialization to impact the management of patients with sepsis,” said Jose Mesa, CIO Partner at Columbus Venture Partners.

“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,” added Valérie Calenda, Managing Partner at Mérieux Equity Partners.