Previa Medical raises €2.1 million for AI solution to prevent sepsis

Seed funding to initiate trial of SEPSI-SCORE^© solution in hospital settings, demonstrating platform’s potential to reduce length of inpatient stays and increase patient survival rates

Lyon, France, February 16, 2023 – Previa Medical, a deeptech start-up specialized in developing predictive medical devices for alerting healthcare providers to the risk of potential complications, today announces it has raised €2.1 million ($2.2M) in seed funding for SEPSI-SCORE^©, a specialist AI-based solution designed to improve the early detection of sepsis in healthcare facilities.

The SEPSI-SCORE platform, which gained medical device certification in 2021, can alert healthcare professionals to potential sepsis cases – up to 48 hours prior to the development of first symptoms. The platformanalyzes data directly from existing software in hospitals, in real time, from the Electronic Health Records (EHR) of patients, including their laboratory results, vital signs and medical history. As this enables healthcare professionals to accurately identify patients at risk, the required treatment can be administered as soon as possible, thereby increasing the chances of patient survival.

Sepsis is one of the leading causes of hospital deaths worldwide, with a 30-day mortality rate of 20 to 30%. SEPSI-SCORE therefore provides a much-needed solution to a major global public health issue.

“We’re delighted to have secured this financial backing from our investors, a testament to their belief in our technology. We are confident that through their business development experience, technical expertise and network in the healthcare sector, we’ll be able to take our business to the next level,” said Quentin François, co-founder and CEO of Previa Medical.

Kreaxi, M2care, Veymont Participations, Hopla Memory, CCI Capital Croissance, Holding Seraip, Bpifrance and BNP Paribas participated in this first round of funding, with a contribution in the form of equity capital and loans from the Banque populaire AURA. This funding is in addition to a subsidy awarded as part of the Grand Défi sur l’IA et la Santé [AI for health challenge] launched in 2022 by BPI France and the French health ministry.

Previa Medical will use the funds to run a prospective multicenter clinical trial for SEPSI-SCORE, aimed at scientifically validating the solution to achieve two major objectives:

• Reducing inpatient length of stays
• Reducing the sepsis-mortality rate

The company also plans to strengthen its team, with a view to expanding its product’s reach and preparing for the commercial launch phase.

“The management team’s approach, as well as its decision to develop a solution for sepsis, a complex disease, have impressed me most about the Previa Medical project. There is a real medical need to improve monitoring, prediction and diagnosis,” explained Sandra Dubos, investment director at Kreaxi. “This start-up’s solution is completely agnostic and can be used for any patient who might be at risk of developing sepsis.”

“M2care’s decision to invest in Previa Medical was based on its highly skilled founders and their vision to develop viable applications for predictive medicine that will benefit patients and healthcare professionals alike. Our team of entrepreneurs in residence are convinced this solution has real potential; they are committed to de-risking the project’s next clinical, commercial and financial milestones, while also accelerating its growth and strengthening its operational team,” said Florence Thueux, president and managing director of M2care.

“We decided to invest in this dynamic start-up because it operates in the healthcare sector and uses AI in its technology. We have shareholders in both these areas who have valuable expertise that they can bring to the Previa Medical team,” added Aymeri Chomel, president of Veymont Participations.

About sepsis

Sepsis is a general inflammatory response to a serious infection. When it presents itself after an invasive procedure, it is also considered a hospital-acquired infection. Sepsis can be caused by any bacteria, even non-pathogenic bacteria, as well as fungal infections and certain viruses (SARS-CoV-2, influenza H1N1, etc.).

It is currently responsible for one in five deaths globally, with 49 million septic conditions each year – nearly half are children. Moreover, forecasts suggest that case numbers are set to double over the next 50 years, most likely as the result of an aging population. Time is known to be the most important factor in the treatment of sepsis; every hour that passes without a diagnosis reduces a patient’s chance of survival by 7%.

About Kreaxi

KREAXI is a French leader in innovation capital, investing in the equity of young, innovative companies with high growth potential and managing an almost €145 million portfolio through a range of pan-European and regional funds. KREAXI has invested in more than 550 companies over the past thirty years (with 22 companies subsequently listed on the stock exchange and over 300 sales, including 150 trade sales). It has around 60 active holdings in its portfolio and employs a team of ten professionals based in Lyon and Paris. 

www.kreaxi.com 

About M2care

M2care is a venture studio specializing in the healthtech sector, which co-founds, co-develops and co-finances innovative projects in the initial stages of their development. It provides a vital link between academics, investors and industry partners, assisting projects with financial investment and operational support. 

Thanks to its experienced team backed by its entrepreneurs in residence, its unique international network and bespoke ecosystems created for each project, M2care ensures that the ideas and technologies developed in the lab ultimately become commercially available healthcare products with the potential to improve public health and patient outcomes. 

www.m2.care

About Veymont Participations

Founded in spring 2011, Veymont Participations is an investment fund in the Rhône-Alpes region of France, which brings together 19 shareholders, senior executives and entrepreneurs from a wide range of backgrounds.  

The fund’s mission is to support the creation, revival and development of small and medium-sized businesses  by taking minority shareholdings, getting actively involved and enabling project owners to benefit from its shareholder’s skills, experience and networks. 

www.veymont.fr  

About CCI Capital Croissance

CCI Capital Croissance is a full subsidiary of CCI Lyon Métropole Saint-Etienne Roanne. Founded in April 2021, its mission is to support local start-ups with strong potential at the seed funding stage. CCI Capital Croissance invests equity capital in these projects up to a maximum of 5% and supports them over a period of three years through CCI’s own start-up accelerator, Novacité. CCI Capital Croissance currently has a portfolio of four start-ups spread over the Lyon, Saint-Étienne and Roanne area.

www.lyon-metropole.cci.fr

About Bpifrance

Bpifrance’s equity investments are carried out by Bpifrance Investissement. Bpifrance finances companies – at every stage of their development – with credit, collateral and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Part of the offer proposed to entrepreneurs includes consulting, university, networking and acceleration programs for start-ups, SMEs and Ethical Trading Initiatives (ETIs). Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from an individual, personal and efficient contact to help them face their challenges.

www.bpifrance.com

About Previa Medical

Founded in 2020 and based in Lyon, France, Previa Medical is a deeptech start-up specialized in developing predictive medical devices that reduce the risk of complications in healthcare settings. The company is the brains behind SEPSI-SCORE^©, a specialist AI-based solution designed to improve the early detection of sepsis.

SEPSI-SCORE predicts a patient’s risk of developing sepsis by analyzing their health record and medical history in real time. The solution, which taps into a hospital’s existing software, can alert healthcare professionals to potential sepsis cases up to 48 hours before the first symptoms develop, meaning patients can be treated sooner, increasing their chances of survival.

www.previa-medical.com