Chrono Therapeutics, a Hayward, Calif.-based developer of digital drug therapies, closed a $47.6m Series B financing.
The round was led by Kaiser Permanente Ventures with participation from Endeavour Vision, Xeraya Capital Labuan Ltd, Asahi Kasei, Emergent Medical Partners, Hikma Ventures, Cota Capital, and Mission Bay Capital and existing investors Canaan Partners, 5AM Ventures, Fountain Healthcare Partners, GE Ventures, and Mayo Clinic. In association with the financing, Liz Rockett, Director of Kaiser Permanente Ventures, was named to Chrono Therapeutics’ board of directors.
The company will use the funds to advance the clinical development of its smoking cessation platform and investigate other applications that can leverage its personalized drug therapy platform.
Led by Alan Levy, Ph.D., chairman and CEO, Chrono provides a platform that combines biologically-timed drug delivery, embedded sensor technology to monitor compliance, and connected and personalized behavior change support. The platform’s first application tackles smoking cessation.
Timed delivery of medication also can offer benefits for other indications, including opioid addiction, Parkinson’s disease, and pain management.