FlowSense shunt monitor quickly and non-invasively detects the flow of cerebrospinal fluid in implanted shunts, addressing a significant unmet need in hydrocephalus patient management
EVANSTON, Ill., Feb. 16, 2023 /PRNewswire/ — Rhaeos®, Inc. (Rhaeos), a clinical stage medical device company focused on addressing an unmet need in the care of people with hydrocephalus, today announced the successful closing of $10.5 million in Series A funding led by the Steele Foundation for Hope, bringing Rhaeos’ total funding to date to more than $18 million. Other round participants include follow-on investors, Creative Ventures and Lateral Capital. The funding will be used to support the in-hospital launch of the FlowSense® shunt monitor, a wireless, non-invasive thermal sensor that rapidly monitors shunt function in people with hydrocephalus. The funding will also accelerate the development of the company’s pipeline products, including an at-home version of the FlowSense shunt monitor, and establish a path to better serve people with hydrocephalus in vulnerable communities worldwide.
“Our mission is to fund technology and innovation focused on improving the quality of life. Rhaeos’ technology addresses a critical unmet need for those suffering from hydrocephalus, how to monitor shunt function and improve clinical decision making,” said Joe Exner, Chief Executive Officer of the Steele Foundation for Hope. “Our investment will enable the exceptional team at Rhaeos to expand access to its innovative thermal sensors across the globe, improving the quality of care and outcomes for hydrocephalus patients.”
Over 1 million people in the US live with hydrocephalus1, a chronic condition characterized by excess cerebrospinal fluid in the brain. Approximately 50% of neurosurgically implanted ventricular shunts (the standard treatment for hydrocephalus) fail within the first two years of placement1. Formed out of the award-winning John A. Rogers Research Group at Northwestern University, the novel FlowSense technology is designed to rapidly and non-invasively monitor shunt function. The FlowSense system utilizes a small, bandage-sized patch that adheres to a person’s skin above the implanted shunt tubing. Critical data on shunt functionality is wirelessly transmitted to a mobile app in a matter of minutes, supporting clinical decision making to optimize treatment plans.