On [today’s date], Cala Health revealed that it has secured a $50 million growth financing round to enhance its TAPS therapy. Leading the investment were Vertex Growth Fund and Nexus NeuroTech Ventures. All prior investors, including Action Potential, Johnson & Johnson, Lightstone, Lux, GV (Google Ventures), OSF Ventures, Ascension Ventures, TriVentures, Reimagined Ventures, Peak6, and Fiscus, also took part in the round.
The funds will be directed towards speeding up the commercialization of their TAPS (transcutaneous afferent patterned stimulation) therapy. Cala’s kIQ system, which applies TAPS therapy, is engineered to treat essential tremor (ET). This non-invasive and FDA-approved wearable device provides a powerful solution for alleviating action hand tremors in ET and Parkinson’s patients. It functions by analyzing each individual’s tremor signature and then delivering customized stimulation to the wrist nerves to counteract tremors. The kIQ system was introduced roughly a year ago.
Earlier this year, the CMS issued a favorable Medicare local coverage determination (LCD) for TAPS therapy. Medicare beneficiaries who meet the new eligibility criteria are now empowered to use TAPS for treating hand tremors.
Cala Health continues its endeavor to amass substantial clinical data to broaden patient access to its neurostimulation therapy.
“This latest funding round will significantly advance Cala’s commercialization path, particularly with the recent favorable Medicare coverage decision for our Cala TAPS therapy,” said CEO Deanna Harshbarger. “It equips us to increase awareness among both patients and healthcare providers about this groundbreaking treatment. We are thrilled with the unwavering support from both our longstanding and new investors who share our vision for leading-edge, on-demand technology to manage tremor relief.”