The proceeds will be used by the company to develop and commercialise its internal prescription digital therapeutic pipeline, in addition to advancing its platform capabilities
Click Therapeutics has secured $52m funding to advance its prescription digital therapeutic pipeline. (Credit: StockSnap from Pixabay)
Click Therapeutics has secured $52m in a Series B financing round to boost its internal prescription digital therapeutic pipeline and platform capabilities.
Co-led by new investors H.I.G. BioHealth Partners and Accelmed Partners II, the financing round saw participation from Health Catalyst Capital, Revelation Partners, and a top biotechnology hedge fund.
The round also included existing investors Sanofi Ventures, K2 HealthVentures, Hikma Ventures, and Ridgetop Health.
Click Therapeutics will use the proceeds from the current financing round to advance the development and commercialisation of its internal prescription digital therapeutic pipeline, as well as to accelerate the company’s platform capabilities.
Click’s pipeline consists of advanced digital therapeutics, which can be used in various therapeutic areas ranging from psychiatry and chronic pain to cardiometabolic and autoimmune disorders.
The company has signed a collaboration agreement with Otsuka for the development and commercialisation of a prescription digital therapeutic to treat major depressive disorder (MDD).
Click has also entered into a collaboration agreement with Boehringer Ingelheim to develop and market a prescription-based digital therapeutic to treat schizophrenia.
Click co-founder and CEO David Benshoof Klein said: “Closing our Series B is an important milestone for Click that will allow us to further scale our proprietary Click Neurobehavioral Intervention (CNI) Platform and fund the development of new and innovative digital therapeutics for patients in need.”
The financing round also allows H.I.G. BioHealth managing director Alex Zisson, Accelmed founder and managing director Dr Uri Geiger to join the Click’s board.
In a statement, Dr Geiger said: “Click is the ideal partner for Accelmed due to our shared belief that leveraging technology in healthcare improves patient outcomes and increases efficiencies throughout the healthcare system.”
Click Therapeutics is involved in the development and commercialisation of software as prescription medical treatments for patients with unmet medical requirements.