Investment will fund the commercial introduction of Cala Trio
expansion of the therapeutic platform
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
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.