Rhaeos Raises $10.5M In Series A Funding To Launch Novel Hydrocephalus Shunt Monitor And Accelerate Pipeline Product Development

Feb 16, 2023•almost 3 years ago

Amount Raised

$10.5 Million

Round Type

series a

EvanstonMedical DeviceBiotechnologyHealth CareMedical

Investors

Lateral CapitalCreative VenturesSteele Foundation For Hope

Description

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

Company Information

Company

Rhaeos

Location

Evanston, Illinois, United States

About

Rhaeos, Inc. is a pioneer in medical device wearables for hydrocephalus, with its groundbreaking FlowSense technology designed to monitor cerebrospinal fluid shunt function rapidly and non-invasively. Developed from the world-renowned John A. Rogers Research Group at Northwestern University, the FlowSense system utilizes a small, bandage-sized patch adhered to a patient's skin over the implanted shunt tubing. This FDA breakthrough designated technology wirelessly transmits critical data on shunt functionality to a mobile app within minutes, providing clinicians with real-time information to optimize treatment plans. Rhaeos is a private medical technology company spun out of Northwestern University and is focused on developing wearable sensors to improve the care of people suffering from chronic and difficult-to-treat conditions. The company's novel FlowSense shunt monitor is a non-invasive, wireless, thermal sensor that addresses a clinical unmet need for people with hydrocephalus and is funded by the Steele Foundation for Hope, National Institute of Neurological Disorders and Stroke at the National Institutes of Health, National Science Foundation, MedTech Innovator, the Pediatric Hydrocephalus Foundation, the Southwest Pediatric Device Consortium, the National Capital Consortium for Pediatric Device Innovation, the UCSF-Stanford Pediatric Device Accelerator, the The Consortium for Technology & Innovation in Pediatrics, and public, private, and institutional investors.

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