Pharaoh Neuro has raised $20m to advance development and regulatory activities for its neurapheresis cerebrospinal fluid (CSF) management system, while simultaneously appointing a CEO and chief medical officer.
Pharaoh’s Neurapheresis is a closed-loop CSF management platform designed to circulate and filter a patient’s own (autologous) CSF without introducing replacement fluids.
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The Minnesota-based company’s oversubscribed Series A financing round was led by Arboretum Ventures, and included participation from Hatteras Venture Partners, the Laerdal Million Lives Fund, and IAG Capital Partners.
Pharaoh plans to use the funds to continue development of the system and support regulatory clearance with the US Food and Drug Administration (FDA).
Neurapheresis’s safety and efficacy have previously been demonstrated in Minnetronix Neuro’s prospective PILLAR-XT trial (NCT03607825). The extracorporeal filtration of subarachnoid haemorrhage via spinal catheter extension study demonstrated the potential to significantly accelerate intracranial blood elimination and CSF red blood cell and protein reduction measures with Neurapheresis.
Research indicates that around 30,000 ventriculoperitoneal (VP) shunt procedures are performed in the US each year to address high CSF disorders such as pressure buildup (hydrocephalus), and to drain excess fluid following subarachnoid haemorrhage (SAH) or acute brain injuries.
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By GlobalDataWhile passive, open-loop shunt systems such as VP shunts or external ventricular drains (EVDs) are the primary standard of care for CSF disorders, they carry a high infection risk and additional risks, including the possibility of over-drainage or the introduction of exogenous fluids.
In line with the Series A round’s close, Pharaoh also announced the appointment of medtech veteran Amaza Reitmeier as CEO, who previously served as vice president and general manager of neuromodulation at Medtronic.
Reitmier commented: “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.”
Meanwhile, Dr Nandan Lad, professor of neurosurgery and vice chair for innovation at Duke University, has been appointed as Pharaoh’s chief medical officer.
Dr Lad helped develop Neurapheresis’s core technology alongside Dr Aaron McCabe while the pair were at Minnetronix Medical. 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 Lad. “Our goal is to deliver a therapy platform that improves outcomes and earns the trust of patients and clinicians.”
