California-based bioelectronic medicine company Cala has raised an oversubscribed $50 million growth financing round, the company said. Among the investors participating is Niterra Ventures, the venture arm of Niterra Co., Ltd..
Cala’s wearable therapy system, known as the Cala kIQ™ system with TAPS™ therapy, is described by the company as the only FDA-cleared, clinically validated non-invasive device for the relief of action hand tremors associated with essential tremor and Parkinson’s disease. The company said that nearly 10 million Americans experience essential tremors that hinder everyday tasks, and that its system uses individualized transcutaneous afferent patterned stimulation to reduce tremor severity for activities such as eating, drinking, writing and self-care.
In 2024, Cala said that its TAPS therapy received Medicare coverage across all 50 states. The company said that clinical validation of the Cala TAPS therapy has been conducted with more than 2,000 patients and reinforced in a published study in the journal Brain Stimulation and at the International Congress of Parkinson’s Disease and Movement Disorders (MDS) conference.
With the new investment, Cala plans to scale commercial operations and expand its sales and marketing efforts to educate both patients and healthcare providers about its wearable neuromodulation therapies. Niterra Ventures said the investment aligns with its mission to support technologies that improve chronic disease management and enhance overall quality of life.
Niterra Co., Ltd. reported consolidated revenues for fiscal year 2022 of ¥562.6 billion and has more than 16,000 employees worldwide across 33 bases in Japan and 59 overseas.
