Cala Health Secures $50 Million Series C Financing to Advance Commercialization of Cala Trio, a Wearable Neuromodulation Therapy for Essential Tremor

Cala Health, a medical device company focused on developing wearable devices for targeted neurostimulation, announced today that it has completed a $50 million Series C financing round. The funding will advance the commercialization of its wearable electronic device, Cala Trio. The round was jointly invested by Novartis, Baird Capital, LifeSci Venture Partners, TriVentures, Johnson & Johnson Innovation (JJDC), Lux Capital, Lightstone Ventures, Action Potential Venture Capital, dRx Capital, and GV (Google Ventures).

It is reported that approximately 7 million people in the United States are affected by essential tremor (ET), a common movement disorder characterized primarily by severe hand tremors, with an incidence rate eight times that of Parkinson’s disease. Currently available pharmacological treatments for ET not only demonstrate limited efficacy but also cause serious side effects.

Cala Health, founded in 2014, developed Cala Trio, a wearable electronic device resembling a smartwatch. By delivering electrical stimulation to peripheral nerves, the device is indicated for the treatment of essential tremor (ET) in adults. This therapy also holds therapeutic potential in the fields of neurological, cardiac, and psychiatric disorders. Notably, the device received U.S. FDA approval in April 2018, becoming a leading non-invasive therapy utilizing targeted neuromodulation for the treatment of ET.

Cala Trio (Image source: Company official website)

Neil Tiwari, Partner at dRx Capital, stated, “We are delighted to partner with Cala Health to provide patients with innovative wearable targeted neuromodulation therapies.”

Baird Partner Nicole Walker stated, “The neuromodulation therapy being advanced by Cala Health is a non-surgical, wearable device. Baird is pleased to participate in the future development of Cala Health, Inc.”

Dr. Kate Rosenbluth, Founder and CEO of Cala Health, stated, “I am delighted to partner with such a strong investment team. Last year, our company’s therapy received U.S. FDA approval for the treatment of patients with essential tremor (ET).”

References:

[1] Cala Health Raises $50 Million in Series C Funding Retrieved on May 21, 2019, from the official website of Cala Health