Rhaeos Raises $10.5M in Series A Funding

Rhaeos, Inc. logo

Rhaeos, a Evanston, IL-based clinical stage medical device company, raised $10.5M in Series A funding.

The round was led by Steele Foundation for Hope with participation from Creative Ventures and Lateral Capital.

The company intends to use the funds 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.

Led by CEO Anna Lisa Somera, Rhaeos a clinical stage medical device company focused on addressing an unmet need in the care of people with hydrocephalus and developing wearable sensors to improve the care of people suffering from chronic and difficult-to-treat conditions. Its novel 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 minutes, supporting clinical decision making to optimize treatment plans.

In 2020, Rhaeos received FDA Breakthrough Device Designation for the FlowSense shunt monitor, enabling the company to work in close collaboration with the FDA to streamline the market clearance process. The FlowSense shunt monitor is currently being evaluated in an FDA pivotal study across multiple centers in the US. The company anticipates making the FlowSense shunt monitor commercially available to physicians and their patients in 2023. 

FinSMEs

17/02/2023