Rock Health is investing $100,000 in Chrono Therapeutics, which will use the proceeds to support clinical trials of its smoking cessation wearable SmartStop. Eventually, the company is hoping to get FDA approval for its device by 2017.

Mentioned wearable device is worn on the arm or body, and is used as a drug delivery tool that works with a companion app. Said application is used both to track one’s nicotine consumption as well as to serve as a digital health coach to help smokers quit.

The device initially gives high doses of nicotine and gradually reduces that dose over a 10-week period. Aside from smoking cessation, Chrono is also exploring applications for treatments of asthma, depression and ADHD.

According to data from the Centers for Disease Control, about 23 million try to quit smoking each year, making this a lucrative market for companies like Chrono.

Aside from Rock, other Chrono investors include Canaan Partners, 5AM Ventures, Fountain Healthcare Partners, Mayo Clinic and GE Ventures. This latest investment follows a $32 million Series A round the company has raised in June.

[Via: medcitynews]