EnClear Therapies Secures $2M Seed Funding to Advance CSF Filtration Device for Neurodegenerative Diseases

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that medical device company EnClear Therapies completed a $2 million seed financing round on March 14, U.S. local time. The round was jointly participated in by Thiel Capital, Bioverge, Sanford Biosciences, and Presight Capital.

In addition, EnClear Therapies has appointed Kevin Kalish as Vice President of Research and Development. Mr. Kalish brings 17 years of R&D experience in the MedTech industry and has previously held key positions at leading healthcare companies, including Medtronic, Boston Scientific, and Johnson & Johnson.

EnClear Therapies is a biotechnology company headquartered in Cambridge, Massachusetts, USA, that has developed a device for the treatment of neurological disorders. Anthony R. DePasqua, Co-Founder and CEO of EnClear Therapies, led the development of this device, which filters out toxic proteins that accumulate in the brain and spinal cord of patients with neurodegenerative diseases, while providing closed-loop delivery and cerebrospinal fluid (CSF) monitoring.

EnClear Therapies was established in December 2018 as a spin-off from QurAlis Corporation. QurAlis Corporation is a biotechnology company developing precision therapies for amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD).

Dr. Kasper Roet, CEO of QurAlis and co-founder of EnClear Therapies, stated, “In our investigation of the causative genes of ALS, we discovered that certain mutant proteins expressed by these genes not only lead to a loss of function of the native proteins but also exhibit significant toxicity. This toxicity permeates the brain and spinal cord, resulting in neuronal death. We therefore sought to identify a method to clear these toxic proteins from this pathological cycle. Ultimately, we developed a device that enables continuous circulation and filtration of cerebrospinal fluid to remove toxic proteins. This device represents the core rationale behind the spin-out of EnClear Therapies, and we hope it will benefit patients with ALS as well as those suffering from other neurological disorders.”

Cerebrospinal fluid (CSF) in the elderly contains substantial amounts of metabolic waste, which is cleared from the brain via CSF “drainage.” Without such a drainage mechanism, these waste products would accumulate in the brain. The core focus of EnClear Therapies is not to restore drainage, but rather to filter the cerebrospinal fluid. The primary challenge in filtering CSF lies in its confinement within the spinal column and skull. If appropriate medical devices can be developed to safely and reliably access and filter the CSF on a regular basis, this platform could enable a wide variety of therapeutic approaches.

Toxic proteins produced by ALS and FTD patients with C9orf72 mutations circulate through the cerebrospinal fluid and are absorbed by neurons in the motor system, which are highly sensitive to their toxicity. This leads to neuronal degeneration and subsequent paralysis in patients. EnClear Therapies has developed a technology to clear these toxic proteins from the cerebrospinal fluid of ALS and FTD patients with C9orf72 mutations. Currently, EnClear Therapies is advancing this technology into a device that enables the recirculation of cerebrospinal fluid while neutralizing the toxic proteins.

Similar to ALS, progressive supranuclear palsy (PSP) is also caused by the accumulation of toxic proteins in the brain. EnClear Therapies is employing the same mechanism used to treat ALS to halt the progression of PSP.

“EnClear Therapies’ unique mechanism of action for ALS may become the preferred approach to curing this disease within the next two years,” said Dr. William B. Gormley, Director of Neurosurgical Critical Care at Brigham and Women’s Hospital.

Thiel Capital, founded in 2011 and headquartered in San Francisco, USA, is a venture capital firm established by Peter Thiel. The firm primarily provides strategic and operational support for Peter’s numerous investment initiatives and entrepreneurial activities. Thiel Capital focuses mainly on the healthcare industry and has completed 21 investments to date.

Bioverge is a venture capital firm that primarily invests in healthcare startups.

Presight Capital is a venture capital fund founded by Christian Angermayer.

(Editor: Wang Chan)