Cala Health closes $50mm Series C round

Bioelectronics firm Cala Health Inc. (data science-driven wearable neuromodulation therapies) completed a $50mm Series C round funded by returning backers Johnson & Johnson Innovation (JJDC Inc.), Lux Capital, Lightstone Ventures, Action Potential Venture Capital, dRx Capital, and GV, which were joined by new investors Novartis AG, Baird Capital, LifeSci Venture Partners, TriVentures, and others. The company will use the proceeds to expand its therapeutic pipeline and support commercialization of its Cala Trio third-generation device based on its wrist-worn Cala ONE targeted peripheral nerve stimulator, which received de novo clearance from the FDA in April 2018 to treat hand tremors in essential tremor (ET) patients. Cala will also use the funds to expand its therapeutic programs; in addition to ET, it currently has development programs in cardiology and psychiatry.