Click Therapeutics (Click), a specialist in Digital Therapeutics as prescription medical treatments, has closed a USD52 million upsized Series B financing. The financing round was co-led by new investors HIG BioHealth Partners (HIG BioHealth) and Accelmed Partners II (Accelmed).
Health Catalyst Capital, Revelation Partners, a top biotechnology hedge fund, and existing investors Sanofi Ventures, K2 HealthVentures, Hikma Ventures, and Ridgetop Health also particpated.
Proceeds from the Series B financing will be used to accelerate the development and commercialisation of Click’s internal prescription digital therapeutic pipeline and advance Click’s platform capabilities.
Click’s pipeline of innovative digital therapeutics spans multiple therapeutic areas, from psychiatry and chronic pain to cardiometabolic and autoimmune disorders. In addition to its internal pipeline programs, Click has entered into landmark collaboration agreements with Otsuka to develop and commercialise a prescription digital therapeutic for treatment of Major Depressive Disorder (MDD), and with Boehringer Ingelheim to develop and commercialise a prescription-based digital therapeutic to aid in the treatment of schizophrenia.
“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,” says David Benshoof Klein, Co-Founder and CEO of Click. “We are excited to welcome our new investors and deepen our relationships with existing investors, all of whom share our vision of a new healthcare landscape in which prescription digital therapeutics play a prominent role alongside traditional pharmacological treatments.”
In conjunction with the Series B financing, Click’s Board of Directors will expand to include Alex Zisson, Managing Director at HIG BioHealth, and Dr Uri Geiger, Founder and Managing Partner of Accelmed.
“Digital therapeutics hold the promise to change the very paradigm of healthcare,” says Zisson. “Click has one of the very best platforms in this field, and we are excited to help the company improve patient outcomes and potentially lower healthcare costs.”
“Click is a prime example of the tremendous and growing potential for digital health software applications to enhance the lives of patients suffering from a variety of medical conditions,” says Geiger. “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. We are excited to offer our financial and operational expertise and to work closely with David and the entire Click executive team to support the growth of Click’s innovative platform.”
