The company will use the new funding to serve more people living with essential tremor and expand its product offering into other indications
Bioelectronic medicine company Cala Health has received $77m in a new financing round led by Ascension Ventures, a healthcare venture firm.
New investors Dolby Family Ventures, PEAK6 Strategic Capital, and Innovatus Capital Partners also have participated in the funding round, alongside existing investors.
Cala Health intends to use the funding proceeds to expand the patient access and advance innovation, and explore additional indications beyond essential tremor.
The additional indications include neurological diseases such as Parkinson’s disease, along with targets in psychiatry, cardiology and autoimmune disorders.
Ascension Ventures senior managing director and healthcare technology investing head John Kuelper said: “At Ascension Ventures, we invest in companies that are committed to changing the paradigm of care.
“Cala Health is changing the standard of care by harnessing electricity as a therapy. The company is at the forefront of massive growth in bioelectronic medicine.”
Essential tremor is a chronic nervous system disorder characterised by involuntary and rhythmic shaking, and is one of the most common neurological disorders.
The condition impacts writing, eating, speaking, and many other essential abilities of patients, with significant limitations in treatment options.
According to clinical data, Cala Trio is the first and only non-invasive bioelectronic therapy to show proven reduction in tremors and improve quality of life for patients.
The company has secured the US Food and Drug Administration (FDA) approval for Cala Trio, supported by the world’s largest clinical study in essential tremor patients.
Furthermore, International Essential Tremor Foundation (IETF) identified Cala Trio as the only effective, non-pharmacologic and non-surgical treatment option for essential tremor.
Cala Health CEO Renee Ryan said: “We are honored to have Ascension Ventures join us on our journey to realize the power of bioelectronic medicine.
“This investment allows us to build upon our strong foundation in treating essential tremor and develop new therapies to help more patients living with chronic disease. Our team is dedicated to closing the massive gap in patient care.”