Editor's note: This article has been updated with a quote from Cala Health's CEO.

Calif.-based Cala Health, the maker of wearable neuromodulation therapy, announced that it has completed the initial closing of an oversubscribed $50 million growth round.

Vertex Growth Fund and Nexus NeuroTech Ventures coled the round, with participation by all the company's existing investors, including Johnson & Johnson (through its VC firm Johnson & Johnson Innovation), Lux Capital, GV (Google Ventures), Action Potential, Lightstone, TriVentures, Fiscus, Reimagined Ventures, Ascension Ventures, Peak6 and OSF Ventures. 

WHAT IT DOES

Cala Health is a bioelectronic medicine company that focuses on chronic diseases. Its Cala kIQ System is a wearable device for individuals with essential tremor, which is a neurological disorder that causes involuntary shaking or trembling of the hands, head, legs or voice.

The FDA-cleared wrist wearable includes transcutaneous afferent patterned stimulation (TAPS), which is designed to reduce hand tremors. Individuals can access the therapy on-demand and gain data insights to see their results over time. 

"This new round of funding will accelerate Cala's growth and path to commercialization. We plan to continue expanding access to patients, including to Medicare beneficiaries who qualify under the new coverage determination and now have access to Cala TAPS therapy," Deanna Harshbarger, CEO of Cala Health, told MobiHealthNews in an email. 

"We are deeply grateful to have all of our investors join us on this journey. These investors bring strategic insights and expertise that will help accelerate our growth and expand our impact. They share our commitment to transforming the standard of care for people living with tremor, and their proven track record in supporting innovative companies ensures we have the right partners to navigate this phase of growth." 

MARKET SNAPSHOT

In 2021, Cala Health scored $77 million in funding led by Ascension Ventures. Dolby Family Ventures, PEAK6 Strategic Capital and Innovatus Capital Partners also participated in the funding round.

Roughly two and a half years prior, the company closed a $55 million Series B round.

Another company developing wearables for individuals living with tremors is GyroGear, a U.K.-based neuromuscular medical device company. In 2021, the company landed $4.3 million in phase one of its seed round for its GyroGlove.