Anuncia, a medical device company addressing cerebrospinal fluid disorders, said Wednesday it is relocating its head office from Lowell, Massachusetts, to the SkySong office development in Scottsdale.
The company has developed a device called ReFlow, which is used to augment shunts in the brains of people with cerebrospinal fluid disorders like hydrocephalus. The ReFlow system achieved breakthrough device designation from the Food and Drug Administration in March.
Anuncia was started in Massachusetts, a state known for its medical technology ecosystem, but CEO Elsa Chi Abruzzo said that it made more sense to grow the company in Arizona.
She said that in the Boston area biotech companies reign supreme so it's harder for medical devices companies to gain traction. And while Boston is home to several venture capital firms, Abruzzo said that many VCs are looking to branch out beyond the coasts and invest more money in the Midwest or Southwest.
“It may not seem like the obvious choice, but it is once you're here,” she said of moving the company to Arizona.
She also cited the proximity to universities, contract manufacturers and medical centers like Barrow Neurological Institute, the Mayo Clinic, and Phoenix Children's Hospital as reasons why it makes sense to build the company in Arizona.
Chris Camacho, president and CEO of the Greater Phoenix Economic Council, said that the GPEC team was excited about Anuncia making the move to the Valley.
"With a growing and robust healthcare, medtech and wearable ecosystem, Greater Phoenix has become a hub for advanced innovation that supports entrepreneurs in the development of lifesaving technology," Camacho said in a statement.
Company's funding
Anuncia was originally part of another Massachusetts company called Alcyone Therapeutics, but Anuncia was spun out on its own in 2018. Earlier this month, Alcyone raised $23 million from investors.
Abruzzo, who previously worked at Alcyone, said that Anuncia is in the midst of raising Series A funding, with the goal of bringing $8 million. The company currently has five employees but the team will expand as part of the relocation.
The most well known CSF disorder is hydrocephalus, which occurs when there is a build up of fluids deep inside the brain. Hydrocephalus is known for afflicting children whose heads swell because of excess fluids, but CSF disorders can affect people of all ages.
These ailments are commonly treated by surgically inserting a shunt that helps facilitate the flow of excess spinal fluid from the head to other parts of the body where it can be absorbed.
The shunt is an effective but imperfect tool for dealing with CSF disorders; Malfunctions due to blockages called occlusions are common, a problem that the ReFlow device aims to alleviate.
Abruzzo said that she’s excited about the move and getting integrated into the medtech ecosystem in Arizona, but ultimately it’s about helping people in need.
“When you meet these patients and you see how underserved they are by what's out there currently, it just gives you a different purpose,” she said.
