A Massachusetts medical device startup said Tuesday it has raised $43.9 million in venture capital to advance its lead product, a minimally invasive shunt to relieve fluid that can build up in the brain as a result of a neurological condition.
Newton-based CereVasc raised the money to fund a clinical trial of its experimental device, the eShunt System. The firm, which was founded in 2014 and has seven employees, plans to begin enrolling volunteers for the trial in the second half of the year.
The company developed the device to treat hydrocephalus, a buildup of fluid in the cavities deep within the brain that can occur in children and adults. Hydrocephalus is caused by an imbalance between how much cerebrospinal fluid is produced and how much is absorbed into the bloodstream.
