Cala Health, Inc., a medical technology company for electrical medicine called neuroperipheral therapyTM, has secured USD50 million in Series C funding round. As per the announcement, the company will utilize this fresh capital to bring Cala TrioTM, a breakthrough therapy for hand tremors in people with essential tremor, to the market in addition to expand its therapeutic pipeline. The company received this massive capital from new investors Novartis, Baird Capital, LifeSci Venture Partners, TriVentures, and among others.
Cala Health’s existing investors that are also participated in this funding round include Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Lux Capital, Lightstone Ventures, Action Potential Venture Capital, dRx Capital, and GV. Based in San Francisco, CA, Cala Health is transforming the standard of care for chronic disease. Its wearable neuromodulation therapies combine innovations in neuroscience and technology to deliver individualized peripheral nerve stimulation. Founded in 2014, the first signal for Cala Health’s wearable therapy is essential tremor, a disease experienced by over 7 million people and characterized by severe hand tremors. In the effort to put off essential tremor (ET), the company is working on a solution that retunes the nervous system so as to ease the signs of ET.
Moreover, Cala Health is seeking to put patients in control of their tremor, with no requirement for invasive brain surgery or drugs. Cala Health further supports the International Essential Tremor Foundation (IETF) and works to connect people living with essential tremor to new therapies. Ahead of this financing round, Cala Health Founder and CEO Kate Rosenbluth said that “We are delighted to work with such a strong team of investors and advisors who share our vision for the future of bioelectronic medicines.”
Kate further noted that “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.”