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This funding will accelerate expansion of Cytovale’s IntelliSep, an FDA-cleared rapid sepsis test.
Sands Capital led Cytovale’s $100 million Series D funding round, enabling commercial and operational expansion of IntelliSep, a rapid diagnostic test cleared by the Federal Drug Administration (FDA), that is transforming sepsis care for hospital emergency departments and health systems nationwide.
As the first FDA-cleared rapid diagnostic test for emergency departments, where 80 percent of sepsis cases present, IntelliSep enables clinicians to detect or rule out sepsis in eight minutes and confidently advance the proper diagnosis and treatment.
“Sepsis is the largest single condition presenting to the emergency department, where there hasn’t been an effective diagnostic test to triage patients quickly and effectively. Cytovale’s IntelliSep test has now been demonstrated, prospectively, to help save lives and money by doing just that,” said Parker Cassidy, a partner at Sands Capital. “We’re excited to lead this financing and help accelerate its commercial launch.”
Led by Sands Capital’s Life Sciences Pulse team—which targets investments in innovative therapeutics, diagnostics, and life sciences tools companies—this investment underscores Sands Capital’s disciplined approach to investing in life sciences companies making advances in areas of large unmet medical need. This investment follows the Life Sciences Pulse Fund III close in May 2024, which raised $555 million in committed capital to help transform how diseases are defined, diagnosed, and treated.
Disclosures:
The Life Sciences Pulse investment strategy is managed by Sands Capital Ventures, LLC (“Sands Capital Ventures”) and is only available to qualified investors.
The activities of the Life Sciences Pulse Team, including investment due diligence and sourcing, may be supported on an ad hoc basis by various members of the broader global research team of Sands Capital Management, as well as members of the Ventures Team of Sands Capital Ventures.
This document does not constitute or form part of an offer to sell or issue, or a solicitation of an offer to purchase or subscribe for, any securities. It is not intended to form the basis of any investment decision and is being made available by or on behalf of Sands Capital Ventures for informational and discussion purposes only.
As of October 1, 2021, the firm was redefined to be the combination of Sands Capital Management and Sands Capital Ventures. Both firms are registered investment advisers with the United States Securities and Exchange Commission in accordance with the Investment Advisers Act of 1940. The two registered investment advisers are combined to be one firm and are doing business as Sands Capital. Sands Capital operates as a distinct business organization, retains discretion over the assets between the two registered investment advisers, and has autonomy over the total investment decision making process.