Cytovale, Inc., a San Francisco, Calif.-based medical technology company dedicated to innovating diagnostics using cell mechanics and machine learning, raised $15m in financing.
The company raised $7.4m in an extension of Series B equity financing, co-led by existing investors Breakout Ventures and Blackhorn Ventures. Western Technology Investment (WTI), who provided a venture debt facility to the company, also participated in the equity financing.
The company intends to use the funds to advance its technology enabling early detection of sepsis in the emergency department.
Led by Ajay Shah, Ph.D., co-founder and CEO, Cytovale uses cell mechanics and machine learning provide rapid diagnostic designed to measure immune cell activity associated with the dysregulated host response in sepsis in less than 10 minutes. Early detection of sepsis enables early treatment, which is crucial to survival.
The company Cytovale has also entered into a partnership with the U.S. Department of Health and Human Services (HHS), Biomedical Advanced Research and Development Authority (BARDA), Division of Research, Innovation, and Ventures (DRIVe) valued up to $7.6 million.
FinSMEs
30/10/2019