Trinity Capital (Nasdaq: TRIN) has committed $50 million of growth capital to Cala Health, with the Phoenix firm announcing the facility on 20 April 2026. Trinity did not disclose the coupon, tenor or whether the commitment includes warrants.
Trinity said the facility will support commercial expansion at Cala, a San Mateo company that develops wearable neuromodulation therapies. Its Cala kIQ System is an FDA-cleared wearable prescribed for home use to manage hand tremors associated with essential tremor and Parkinson's disease.
Rob Lake, Senior Managing Director, Life Sciences at Trinity, said Cala has developed a therapy that the firm believes is simple, personalised and effective for patients. "We are proud to partner with a company that is delivering meaningful improvements in patients' daily lives and look forward to supporting their continued growth and commercial expansion," he said.
Deanna Harshbarger, Chief Executive at Cala, said the company is pleased to partner with Trinity to optimise its capital structure. "This collaboration enhances our ability to accelerate commercial expansion and product innovation, advancing Cala TAPS therapy to impact the lives of essential tremor and Parkinson's disease patients," she said.
Trinity is an alternative asset manager headquartered in Phoenix, with its team located across the United States and Europe. Life Sciences is one of five lending verticals. As of 31 December 2025 it had deployed more than $5.5 billion across over 463 investments since 2008. In 2025 the firm funded $1.5 billion of investments and originated $2.1 billion of new commitments. At the year end its investment portfolio had a fair value of about $2.4 billion across 176 portfolio companies, and platform assets under management stood at $2.8 billion.
The Trinity facility follows a $50 million growth equity round that Cala closed on 9 December 2024, co-led by Vertex Growth Fund and Nexus NeuroTech Ventures, with existing investors including Action Potential, Johnson & Johnson Innovation (JJDC), Lightstone, Lux Capital, GV, OSF Ventures, Ascension Ventures, TriVentures, Reimagined Ventures, Peak6 and Fiscus. In November 2021 Cala raised $77 million led by Ascension Ventures, with Dolby Family Ventures, PEAK6 Strategic Capital and Innovatus Capital Partners joining as new investors. A $50 million Series C in May 2019 funded the commercial introduction of its first wearable tremor therapy.