CereVasc, an Auburndale-based biotech focused on treating hydrocephalus, closed its Series A round of $43.9 million led by the Perceptive Xontogeny Venture Fund and ATON Partners.
Hydrocephalus, often referred to as "water on the brain," is a condition where fluid builds up in the cavities (ventricles) deep within the brain. The excess fluid increases the size of the ventricles and puts pressure on the brain, often causing impaired vision, loss of coordination and more.
CereVasc claims that its technology — eShunt System — is the first minimally invasive cerebrospinal fluid shunt that avoids the need for invasive surgery and extended hospitalization. A neuroradiologist, neurosurgeon, or neurologist can deploy the eShunt Implant using local anesthesia. The shunt is also designed to minimize risks like catheter obstruction, infection and over-drainage.
The company said it will use the capital to begin the first-in-human clinical trial expected to begin enrollment during the second half of 2020.
“Hydrocephalus - which is most commonly treated with an invasive surgical procedure - is one of the most common neurosurgical conditions impacting hundreds of thousands of children and adults in the U.S.,” cofounder and neurosurgeon-in-chief at Tufts Medical Center Carl B. Heilman said in a statement. “There was a clear need for a new approach to dramatically simplify the treatment of hydrocephalus, reduce morbidity, and expand the use of CSF shunts to a broader patient population.”
