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.
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