#USA #Chicago #Madison Scientific #SmartShunt #Hydrocephalus

Madison Scientific Secures $7 Million Seed Funding

Madison Scientific, Inc. (MadSci), a pioneering medical device company, has announced that it has successfully secured $7 million through a fully subscribed seed financing round. This significant funding will allow the company to further develop its SmartShunt™ System, designed to address the complex challenges faced by individuals with hydrocephalus, a condition affecting over one million children and adults in the United States.

The financing round was co-led by WARF Ventures and the Isthmus Project, along with participation from a successful entrepreneur in the medical device field, alongside various institutional investors, family offices, and angel investors. This financial boost will facilitate team expansion, enhance preclinical testing, and propel the prototype development of the SmartShunt™ Hydrocephalus Management System.

"Hydrocephalus is a difficult condition to manage effectively, often accompanied by anxiety due to the failures of current shunt devices, which lack advanced technology to alert when medical intervention is necessary," explained Joshua Carson, PhD, a Venture Manager at WARF Ventures. He emphasized the commitment to enhancing patient care through the innovative technology offered by MadSci.

The SmartShunt System aims to meld diagnostic and therapeutic operations, paving the way for personalized and informed management of hydrocephalus. It will incorporate a proprietary valve, advanced intracranial pressure (ICP) sensors, and sophisticated algorithms, thus optimizing shunt drainage tailored to an individual patient's needs. The technology aspires to minimize life-threatening shunt failures and provide timely information to both patients and their families, ultimately reducing uncertainty.

Hydrocephalus arises from an accumulation of cerebrospinal fluid (CSF) within the brain's ventricles, which can lead to increased intracranial pressure, neurological damage, or even fatality if left untreated. While current treatment options often involve the surgical installation of permanent shunts to drain CSF, traditional shunts have remained largely unchanged for nearly 75 years and are notorious for their high failure rates, with around 40% failing within the first year and most failing within two to three years.

"We are dedicated to improving outcomes for individuals suffering from hydrocephalus," stated MadSci's CEO, Tyler Wanke, MD, MBA, MEM/MSDI. "Our team has made remarkable strides, and we are thankful for the robust backing from our investors as we strive to deliver this crucial innovation to those in need."

Along with this recent funding, MadSci has previously been awarded various non-dilutive grants, including a Phase I Small Business Innovation Research (SBIR) grant from the National Institutes of Health and a Phase II SBIR Grant from the National Science Foundation.

The SmartShunt System remains under development and is not yet available for use or sale in any country.

ABOUT MADISON SCIENTIFIC

Madison Scientific is an early-stage company focused on innovating smart electro-mechanical devices that aim to improve treatment options and long-term care for patients with hydrocephalus and other neurological conditions. With nearly one million Americans affected by hydrocephalus, the need for more effective treatment solutions is greater than ever, particularly in light of the high failure rates and diagnostic uncertainty associated with existing methods. The company’s SmartShunt System represents a significant leap forward in addressing these challenges with cutting-edge technology and advanced algorithms that seek to improve patient outcomes dramatically.