Barcelona-based medical diagnostics company deepull has successfully closed an oversubscribed €50 million Series C financing round to advance its groundbreaking UllCORE diagnostic system for rapid pathogen detection directly from blood samples.
The funding round was co-led by Columbus Venture Partners, Panakès Partners, and Mérieux Equity Partners, with significant participation from existing investors including Asabys Partners, Innvierte-CDTI, We Venture Capital, UI Investissement, Axis-ICO, Aliath Bioventures, and Kurma Partners.
Revolutionary Approach to Sepsis Diagnosis
The UllCORE system represents a potential paradigm shift in sepsis diagnostics, utilizing advanced molecular techniques to extract and detect microbial DNA directly from whole blood without the need for traditional blood cultures. The system's multiplex PCR test can identify 95% of sepsis-causing pathogens, including bacteria and fungi, as well as antibiotic resistance genes, delivering critical results to healthcare providers in approximately one hour.
This technology addresses a critical unmet need in sepsis management. Current diagnostic methods rely on blood cultures that can take days to yield results and frequently fail to identify pathogens in suspected sepsis cases. The delay in pathogen identification often leads to broad-spectrum antibiotic use and contributes to poor patient outcomes.
"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."
Addressing a Major Healthcare Challenge
Sepsis represents one of the most significant challenges in modern healthcare. The condition directly causes or contributes to one in three hospital deaths in the United States, with septic shock carrying a global mortality rate of 30-40%. Early diagnosis is particularly challenging as symptoms are often non-specific and easily overlooked.
The UllCORE system's ability to provide rapid, accurate pathogen identification could significantly improve sepsis management by enabling targeted antimicrobial therapy much earlier in the treatment process.
Rick Ivey, Chairman of the Board of Directors at deepull, noted, "The strong support and oversubscription in this financing round reflect both the strength of deepull's technology and its potential to redefine diagnostic standards."
Technical Capabilities and Regulatory Progress
The UllCORE diagnostic system is designed as a fully automated, walkaway platform that processes 8mL of whole blood to extract total microbial DNA. The system provides 52 reportable results covering the vast majority of sepsis-causing pathogens.
In December 2024, the technology received Breakthrough Device Designation from the U.S. Food and Drug Administration, highlighting its potential to address this critical medical need. The Series C funding will primarily support final clinical validation studies and expedite the regulatory approval process.
Investor Confidence in deepull's Approach
The substantial investment reflects strong confidence in deepull's technological approach and market potential.
"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.
Jose Mesa, CIO Partner at Columbus Venture Partners, added, "We are thrilled to support deepull's vision as it transitions towards commercialization to impact the management of patients with sepsis."
Valerie Calenda, Managing Partner at Mérieux Equity Partners, noted their early identification of the company: "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."
Clinical Laboratory Integration
The UllCORE analyzer is designed as a benchtop system with complete sample-to-result automation, making it suitable for integration into hospital clinical laboratories of various sizes. This practical design consideration could facilitate broader adoption across healthcare systems once regulatory approvals are secured.
The proceeds from this financing round position deepull to complete the necessary clinical validation studies and navigate the regulatory approval process, potentially bringing this innovative diagnostic solution to healthcare providers and patients in the near future.
