BURLINGAME, Calif.--(BUSINESS WIRE)--Cala Health, Inc., a bioelectronic medicine company developing wearable therapies for chronic disease, today announced it has completed a $50 million Series C financing. Cala Health will use the funds to introduce Cala TrioTM, a breakthrough therapy for hand tremors in people with essential tremor, to the market as well as expand its therapeutic pipeline. As part of the financing, industry veteran Stacy Enxing Seng will be joining Cala Health’s team as an Independent Director and Board Chair.
New investors in the Series C financing include Novartis, Baird Capital, LifeSci Venture Partners, TriVentures, and others. All existing investors participated in the round, including Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Lux Capital, Lightstone Ventures, Action Potential Venture Capital, dRx Capital, and GV.
“We are excited to continue partnering with Cala Health on its journey to support patients with chronic disease with wearable neuromodulation therapies,” said Neil Tiwari, General Partner, dRx Capital, a Novartis & Qualcomm joint investment company.
Nicole Walker, General Partner at Baird, added "Cala Health is advancing neuromodulation therapy options without the need for surgery, using body-worn electronics. Baird is thrilled to invest in this field and in the company's future growth.”
“We are delighted to work with such a strong team of investors and advisors who share our vision for the future of bioelectronic medicines. This financing follows exciting momentum from the past year, including receiving De Novo clearance from the Food and Drug Administration for our therapy for essential tremor and announcing a licensing agreement and ongoing collaboration with Partners Healthcare Innovation and its affiliate, Massachusetts General Hospital,” said Kate Rosenbluth, PhD, Founder and CEO, Cala Health.
Cala Health is preparing for the limited release of the prescription Cala Trio therapy, including an innovative commercial strategy that delivers prescription therapy with the convenience of consumer electronics by serving the patients as a direct distributor. The company recently announced completing enrollment in the largest therapeutic study ever conducted in essential tremor in the US, the landmark PROspective study for SymPtomatic relief of Essential tremor with Cala Therapy (PROSPECT).
About Cala Health, Inc.
Cala Health is a bioelectronic medicine company transforming the standard of care for chronic disease. The company's wearable neuromodulation therapies merge innovations in neuroscience and technology to deliver individualized peripheral nerve stimulation. The first indication for Cala Health's wearable therapy is essential tremor, a disease experienced by more than seven million people and characterized by severe hand tremors. New therapies are under development in neurology, cardiology, and psychiatry. The company is headquartered in the San Francisco Bay Area and backed by leading investors in both healthcare and technology. For more information, please visit www.calahealth.com.