CARI Health is building what it describes as the world’s first wearable medication monitor to enable remote medication monitoring and improve treatment compliance. The company plans to use the newly awarded NIDA SBIR Fast Track grant to support product development and conduct human clinical studies. It is eligible to receive up to $2.8 million over three years as project milestones are completed across Phase I and Phase II. CARI Health has previously received investments and support from the San Diego Angel Conference, NuFund Venture Group, Cove Fund, Chemical Angel Fund, Device of Tomorrow Capital, and several individual angel investors. The company also secured investments and accelerator support from the Cedars Sinai Accelerator and the Rady Venture Fund (UCSD), and participated in programs including the Institute for the Global Entrepreneur MedTech Accelerator at UCSD, MedTech Innovator, and EvoNexus. Founder and CEO Patrik Schmidle launched CARI Health following a family member’s struggle with opioid use disorder, and the firm says the grant will enable it to move toward human trials and broader deployment. CARI Health is building a wearable remote medication monitoring device that provides clinicians with real-time medication levels to enable tailored dosing and verify adherence. The company’s first clinical application targets patients on medications for opioid use disorder to allow remote proof of treatment compliance. CARI’s device is entering first in-patient human clinical studies and the company is preparing for the FDA regulatory pathway. Earlier development was supported by non-dilutive SBIR grant funding and participation in accelerator programs including Qualcomm Institute Innovation Space, UC San Diego’s MedTech Accelerator, and MedTech Innovator. The company says it will expand its intellectual property portfolio as it readies the product for regulatory clearance and commercial launch. CARI Health is based in San Diego and anticipates a subsequent financing round in the second half of 2023 to support regulatory and commercialization efforts.

Total raised

$5M

Funding rounds

2

Latest round

Grant

Latest activity

Oct 2023