NEW YORK--(BUSINESS WIRE)--Click Therapeutics, Inc. (“Click”), a leader in Digital Therapeutics™ solutions as prescription medical treatments, today announced $30 million in debt financing from K2 HealthVentures (K2HV), a healthcare-focused specialty finance company, to accelerate commercialization of its leading smoking cessation solution, Clickotine™, and to advance its pipeline of clinically-validated digital therapeutics.
“This financing will help us to reach more patients more quickly and to achieve our patients-first mission to expand access to treatment through digital therapeutics. K2HV understands our vision that medicine has a digital future, and that companies working hard now to establish validated, reliable digital therapies will be poised to succeed in this new era of healthcare. The capital from K2HV will help expand our growth capacity and enable us to target additional commercial and product opportunities, while further expanding our research and development capabilities,” said Ross Muken, Click Therapeutics’ Chief Financial Officer.
Click Therapeutics has recently announced the achievement of key corporate milestones, including securing significant new distribution partners for Clickotine™ as well as finalizing a landmark co-development and commercialization partnership in schizophrenia with Boehringer Ingelheim. The company is developing a broad pipeline of prescription digital therapeutics for the treatment of indications across multiple therapeutic areas, from psychiatry and chronic pain to cardiometabolic and autoimmune disorders.
“We have been evaluating the space of digital therapeutics for some time and decided now is the time to invest in support of an industry leader. Click’s platform-based approach enables targeting of a wide variety of different indications, and its multiple commercial and co-development collaborations support a global reach,” said Parag Shah, Founding Managing Director and Chief Executive Officer of K2HV. “This investment furthers our strategy of partnering with transformative life sciences and healthcare companies with world class management that aim to improve individual outcomes and enhance public health more broadly.”
About Click Therapeutics
Click Therapeutics, Inc. develops and commercializes software as prescription medical treatments for people with unmet medical needs. Through cognitive and neurobehavioral mechanisms, Click’s Digital Therapeutics™ enable change within individuals, and are designed to be used independently or in conjunction with biomedical treatments. The Clickometrics® adaptive data science platform continuously personalizes user experience to optimize engagement and outcomes. Following a groundbreaking clinical trial, Click’s industry-leading smoking cessation program is available nationwide through a wide variety of payers, providers, and employers. Click is progressing a broad pipeline of Digital Therapeutics™ across a variety of high-burden therapeutic areas, including Major Depressive Disorder (MDD), Schizophrenia, Acute Coronary Syndrome (ACS), Chronic Pain, Insomnia, COPD, Obesity, and more. For more information, visit ClickTherapeutics.com.
About K2 HealthVentures
K2 HealthVentures is an alternative investment firm focused on providing flexible, long-term financing solutions to innovative private and public companies in the life sciences and healthcare industries. The investment team comprises collaborative, experienced professionals with diverse backgrounds in finance and operations, as well as deep domain knowledge across various healthcare sectors. A uniquely flexible, permanent capital structure enables the firm to provide creative, adaptive financing solutions and meet the evolving capital needs of its portfolio companies as they grow. K2HV is driven by dual goals of Profit and Purpose – aiming to fuel the growth of innovative companies that will ultimately improve the lives of patients and giving a percentage of investment profits back to underserved areas in healthcare. www.k2hv.com.