€50M Series C for deepull, an Asabys portfolio company

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 and the Hub's members Asabys Partners and We Venture Capital, as well as Innvierte-CDTI, 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.