Promising Cleveland Clinic spinoff goes on "hiatus"

CSF Therapeutics, a traumatic brain injury and stroke treatment company spun out from Cleveland Clinic, has shut down. CSF was testing a device designed to maintain blood flow to the brain in patients experiencing a buildup of excess cerebral spinal fluid due to trauma from a stroke or head injury, according to MedCity News. The company has no operations and no employees, according to a Cleveland Clinic spokesman.

CSF was started in late 2006 to much fanfare. "We've spent a lot of time looking at neuro companies and research, and we're excited by this one because it's establishing a new field in neuroscience. Neurodegenerative disorders affect millions of people worldwide and represent a vast area of unmet therapeutic need," Aaron Sandoski, managing director of Norwich Ventures, said at the time. Norwich Ventures had invested $4 million in the company, MD+DI noted.

As MedCity News reports, it's not clear why the company is on hiatus. However, a Cleveland Clinic spokesperson told the news service in an email, "Board decided that additional proof of concept/research needed to be done prior to additional commercialization." Information about CSF has been removed from the Cleveland Clinic spinoff web page.

- get more from MedCity News

Suggested Articles

Sanofi will look to pull back from its three-year-old relationship with Verily and their virtual diabetes clinic, Onduo.

AstraZeneca is linking up with DeepMatter, a big data firm focused on achieving reproducibility in chemistry, to help improve its compound synthesis.

Boehringer Ingelheim tapped Healx to help identify new drug indications and leverage its AI to explore R&D options in neurological diseases.