The neuromodulation-focused Stanford spinout increased its overall funding to $145m in a round led by Ascension Ventures.
Venture capital firm Ascension Ventures led a $77m funding round on Tuesday for Cala Health, a US-based manufacturer of neuromodulation devices based on Stanford University research.
The round also featured Peak6 Strategic Capital, Innovatus Capital Partners, Dolby Family Ventures and all the company’s existing investors, which include pharmaceutical firms Novartis and Johnson & Johnson, internet technology group Alphabet and chipmaker Qualcomm.
Cala produces wearable devices that regulate nervous system activity to treat conditions like essential tremor by stimulating peripheral nerves. It will use the cash to expand into other conditions such as Parkinson’s and disorders related to cardiology, psychiatry and autoimmune disorders.
The company raised $50m in a mid-2019 series C round backed by DRx Capital, which was launched by Novartis and Qualcomm, in addition to Alphabet’s GV unit and Johnson and Johnson Innovation – JJDC, which invested on behalf of Johnson and Johnson.
LifeSci Venture Partners, TriVentures, Baird Capital, Lux Capital, Lightstone Ventures and Action Potential Venture Capital rounded off the participants along with unnamed others.
DRx Capital, GV and JJDC all took part in Cala’s $18m series A round in 2016, as did Action Potential Venture Capital, Lux Capital and Lightstone Ventures.
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
