Pharaoh Neuro has secured $20 million in Series A funding to accelerate the development and regulatory approval process for its Neurapheresis system, a novel approach to cerebrospinal fluid (CSF) management. The company simultaneously announced the appointments of Amaza Reitmeier as Chief Executive Officer and Dr. Nandan Lad as Chief Medical Officer.
The oversubscribed funding round was led by Arboretum Ventures, with participation from Hatteras Venture Partners, the Laerdal Million Lives Fund, and IAG Capital Partners. Pharaoh Neuro intends to utilize the funds to advance the Neurapheresis system through the U.S. Food and Drug Administration (FDA) clearance process.
Neurapheresis is designed as a closed-loop system that circulates and filters a patient’s own CSF, differing from traditional methods that often require the introduction of external fluids. Prior to this funding round, the safety and effectiveness of Neurapheresis were demonstrated in the prospective PILLAR-XT trial (NCT03607825) conducted by Minnetronix Neuro. The trial, focused on extracorporeal filtration of subarachnoid hemorrhage, showed the potential for accelerated intracranial blood elimination and reduction of CSF red blood cell and protein levels.
Currently, approximately 30,000 ventriculoperitoneal (VP) shunt procedures are performed annually in the United States to address conditions involving elevated CSF pressure, such as hydrocephalus, and to drain excess fluid following subarachnoid hemorrhage (SAH) or acute brain injuries. Existing standard-of-care treatments, including VP shunts and external ventricular drains (EVDs), are associated with risks such as infection, over-drainage, and the potential introduction of foreign fluids into the system.
Amaza Reitmeier, the newly appointed CEO, brings extensive experience in the medical technology sector, previously serving as Vice President and General Manager of neuromodulation at Medtronic. “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,” Reitmeier stated.
Dr. Nandan Lad, Professor of Neurosurgery and Vice Chair for Innovation at Duke University, will serve as Pharaoh’s Chief Medical Officer. Dr. Lad was instrumental in the initial development of Neurapheresis technology alongside Dr. Aaron McCabe while both were at Minnetronix Medical. Dr. McCabe currently holds the position of Chief Scientific and Technology Officer at Pharaoh Neuro.
“I am deeply committed to ensuring [the Neurapheresis platform] its rigorous, evidence-based clinical introduction,” said Dr. Lad. “Our goal is to deliver a therapy platform that improves outcomes and earns the trust of patients and clinicians.”
Billy Joel’s recent diagnosis of Normal Pressure Hydrocephalus (NPH) has brought increased attention to CSF disorders. NPH, characterized by an abnormal buildup of CSF in the brain’s ventricles, can cause symptoms including difficulty walking, cognitive decline, and urinary incontinence. The condition, as described by neurologists, arises when the balance of CSF production and absorption is disrupted.
