Chrono's platform 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 may offer benefits for other indications, including opioid addiction, Parkinson's disease, and pain management.
"We have made tremendous progress in developing our technology to help people quit smoking, one of the lowest cost ways to improve health and reduce healthcare costs," said Alan Levy, Ph.D., chairman and CEO of Chrono. "This financing will bring us closer to commercializing our system for smoking cessation and also enable us to dive more deeply into other applications where we can make a major impact and save lives."
Chrono's wearable transdermal drug delivery device times nicotine delivery to when smokers have their strongest cravings. Studies show that 75% of all smokers reach for their first cigarette within 30 minutes of waking up. The Chrono solution is designed to deliver the first dose of nicotine replacement therapy shortly before the smoker wakes up and to create a pattern of "peaks and troughs" of nicotine delivery throughout the rest of the day to ensure the smoker has more nicotine support when cravings are predicted to be strongest. In a recent clinical trial of adult male smokers, Chrono's smoking cessation technology demonstrated a clinically meaningful and statistically significant reduction in nicotine cravings.
"Chrono's technology is the first of its kind and holds the potential to significantly improve the way we provide an end-to-end patient-centered solution for those people struggling with addiction and chronic neurological diseases," said Wende Hutton of Canaan Partners. "We welcome our new investors and look forward to the additional experience and perspective they will bring to Chrono. Kaiser Permanente Ventures' insights into delivering value-based pharmaceutical offerings to managed care environments and Endeavour Vision's experience in international markets will add significant value to this exciting company."
About Chrono Therapeutics
Effective care of the most hard-to-treat conditions requires approaches beyond simply taking medicine. Chrono's team is developing a next generation transdermal drug delivery wearable that integrates biologically-timed drug delivery with personalized digital support to help people achieve optimal clinical outcomes and lifestyle improvements. Chrono's first application is in smoking cessation, enabling smokers to overcome the world's deadliest addiction. For more information, visit www.chronothera.com.
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SOURCE Chrono Therapeutics