Bioelectronic medicine company Cala Health has raised $77 million in a funding round led by new investor Ascension Ventures.
The company’s existing backers also participated in the round along with several other new investors, including PEAK6 Strategic Capital, a subsidiary of PEAK6 Investments, Dolby Family Ventures and Innovatus Capital Partners.
Based in the San Francisco Bay Area, California, USA, Cala Health seeks to develop a new standard of care for patients with chronic diseases.
The company’s flagship product is Cala Trio, a wearable, wrist-worn therapy for essential tremor, a chronic neurological disorder. The device has obtained approval from the United States Food and Drug Administration (FDA).
Cala Health plans to use the funds to expand its reach and accelerate innovation. He also intends to explore additional indications beyond essential tremor, including Parkinson’s disease as well as targets in cardiology, psychiatry and autoimmune diseases.
Renee Ryan, CEO of Cala Health, said, “We are honored to have Ascension Ventures join us on our journey to realize the power of bioelectronic medicine.
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“This investment allows us to build on our strong foundation in the treatment of essential tremor and develop new therapies to help more patients with chronic conditions. Our team is dedicated to closing the huge gap in patient care.
Essential tremor is characterized by involuntary shaking. It affects speech, writing, eating and many other essential patient abilities.
According to the company, the disease affects the daily lives of approximately 10 million people in the United States.
In June, Cala Health partnered with the University of California, San Francisco (UCSF) to develop noninvasive peripheral nerve stimulation therapies.