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Kalm Therapeutics has been named the recipient of a direct investment from Innovate Alabama through the InvestAL program, made possible by the State Small Business Credit Initiative (SSBCI). Kalm is InvestAL’s largest and first life science investment to date. The funds will directly contribute to further execution toward the company’s Investigational New Drug (IND) submission and starting clinical trials in 2025.
“Innovate Alabama’s InvestAL program is the first of its kind in the state, leveraging SSBCI dollars to catalyze private investment in world-changing companies like Kalm,” said Innovate Alabama CEO Cynthia Crutchfield. “We are proud to invest in technology like the Kalm Patch that helps make medical care more accessible and user friendly.”
The Kalm Patch utilizes “Continuous Dose” technology and delivers anti-inflammatory natural medication while protecting the skin from itching and infection. The Kalm Patch delivers its natural compound over 24 hours, providing a convenient and effective alternative to harmful topical steroids that require 3-5 applications per day.
“Kalm is honored to be chosen as one of the homegrown Alabama companies to receive investment from Innovate Alabama’s InvestAL program,” said Kalm CEO, Chris Seibert.
“This funding comes as a result of in-depth diligence in a difficult fund-raising environment. We believe that we are exactly who this program exists to catalyze, life science companies that are underrepresented in Alabama’s economy. We intend to utilize these funds to execute toward a regulatory approval and to expand our local team.”
This funding requires that the receiving company has raised an equivalent or higher amount of private investment.
