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MINNESOTA – Pharaoh Neuro, a medical device company focused on cerebrospinal fluid (CSF) management, has raised $20 million in an oversubscribed Series A financing round. The funding will be used to advance the development and regulatory approval process for its innovative neurapheresis system, designed to treat a range of neurological conditions involving CSF imbalances. Simultaneously, the company has appointed a novel Chief Executive Officer and Chief Medical Officer to lead its next phase of growth.
The financing round was led by Arboretum Ventures, with participation from Hatteras Venture Partners, the Laerdal Million Lives Fund, and IAG Capital Partners. This investment underscores the growing need for advanced solutions in CSF management, particularly for conditions like hydrocephalus and subarachnoid hemorrhage (SAH), where current treatment options often carry significant risks.
Pharaoh Neuro’s neurapheresis system represents a novel approach to CSF management. Unlike traditional methods that rely on passive drainage or the introduction of external fluids, neurapheresis is a closed-loop system that circulates and filters a patient’s own CSF. This process aims to reduce complications associated with existing treatments, such as infection and over-drainage, while providing clinicians with greater control over CSF dynamics.
Neurapheresis Demonstrates Promise in Clinical Trials
The safety and efficacy of neurapheresis have been previously demonstrated in the prospective PILLAR-XT trial (NCT03607825) conducted by Minnetronix Neuro. The study, focused on extracorporeal filtration of subarachnoid hemorrhage via spinal catheter extension, showed the potential for the system to accelerate the elimination of blood from the brain and reduce levels of red blood cells and protein in the CSF. This is particularly important in the aftermath of SAH, a serious condition that can lead to significant neurological deficits.
Currently, approximately 30,000 ventriculoperitoneal (VP) shunt procedures are performed annually in the United States to address conditions involving CSF buildup, including hydrocephalus, and to drain excess fluid following SAH or acute brain injuries. While VP shunts and external ventricular drains (EVDs) remain the standard of care, they are associated with a high risk of infection and other complications, according to research in the field.
Experienced Leadership to Drive Innovation
To spearhead the company’s growth, Pharaoh Neuro has appointed Amaza Reitmeier as its new Chief Executive Officer. Reitmeier brings extensive experience in the medical technology industry, having previously served as Vice President and General Manager of neuromodulation at Medtronic. She stated that neurapheresis “represents an active, closed-loop approach to CSF management designed to reduce complications and give clinicians greater control in treating the most critically ill neurological patients.”
Complementing Reitmeier’s appointment, Dr. Nandan Lad has been named Chief Medical Officer. Dr. Lad is a Professor of Neurosurgery and Vice Chair for Innovation at Duke University and was instrumental in the development of the core neurapheresis technology alongside Dr. Aaron McCabe while both were at Minnetronix Medical. Dr. McCabe now serves as Pharaoh’s Chief Scientific and Technology Officer.
“I am deeply committed to ensuring [the Neurapheresis platform] its rigorous, evidence-based clinical introduction,” said Dr. Lad. “Our goal is to deliver a therapy platform that improves outcomes and earns the trust of patients and clinicians.”
Pharaoh Neuro plans to use the Series A funding to continue refining the neurapheresis system and to pursue regulatory clearance from the U.S. Food and Drug Administration (FDA). The company’s innovative approach to CSF management holds the potential to significantly improve the treatment of a wide range of neurological disorders and enhance the quality of life for patients suffering from these conditions.
Disclaimer: This information is intended for general knowledge and informational purposes only, and does not constitute medical advice. This proves essential to consult with a qualified healthcare professional for any health concerns or before making any decisions related to your health or treatment.
The development of the neurapheresis system represents a significant step forward in CSF management. As Pharaoh Neuro progresses through the regulatory process and expands clinical applications, it will be crucial to monitor the long-term outcomes and impact of this technology on patient care. Further research and clinical trials will be essential to fully realize the potential of this innovative approach.
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