NEW YORK — Cytovale announced today it has received a total of $15 million in financing to advance its technology for the early detection of sepsis in the emergency department.
The funding includes a $7.4 million extension of a Series B equity financing and a partnership with the US Department of ealth and Human Services, Biomedical Advanced Research and Development Authority (BARDA) that is valued at up to $7.6 million.
The extended Series B equity financing was co-led by existing investors Breakout Ventures and Blackhorn Ventures. Western Technology Investment also participated.
Cytovale's partnership with BARDA is with its division of research, innovation, and ventures.
Funds will be used to advance the company's technology through good manufacturing practice and to conduct clinical studies for the regulatory clearance of the sepsis test.
Based in San Francisco, Cytovale develops diagnostics using cell mechanics and machine learning. Its rapid diagnostic is designed to measure immune cell activity associated with the dysregulated host response to sepsis in less than 10 minutes. The goal is to develop the technology for use in the ED.