BioCentury
ARTICLE | Financial News

Chrono raises $47.6M in series B

September 8, 2016 7:00 AM UTC

Drug delivery company Chrono Therapeutics Inc. raised $47.6 million in a series B round led by Kaiser Permanente Ventures. Endeavour Vision, Xeraya Capital Labuan, Asahi Kasei, Emergent Medical Partners, Hikma Ventures, Cota Capital and Mission Bay Capital also participated, as did existing investors Canaan Partners, 5AM Ventures, Fountain Healthcare Partners, GE Ventures and the Mayo Clinic.

Chrono is developing a wearable transdermal nicotine patch that uses timed drug delivery to minimize nicotine cravings. In March, the company said the device significantly reduced cravings in a 24-patient Phase I pharmacokinetics study. Chrono raised $32 million in its 2014 series A round. ...