Click Therapeutic secures US$52 million in Series B funding to expand prescription portfolio

USA – Click Therapeutic, a prescription digital therapeutic company, has bagged US$52 million Series B funding round led by Health Catalyst Capital, Revelation Partners, Sanofi, K2 HealthVentures, Hima Ventures, and RidgetopHealth.

Other participants included Health Catalyst Capital, Revelation Partners, Sanofi, K2 HealthVentures, Hima Ventures, and RidgetopHealth.

This announcement comes more than a year after the company signed a US$500 million-plus deal with pharmaceutical company Boehringer Ingelheim to jointly commercialize a digital treatment for schizophrenia patients.

Click’s pipeline of innovative digital therapeutics covers a wide range of therapeutic areas, including psychiatry and chronic pain, as well as cardiometabolic and autoimmune disorders.

According to the company, the new funds will aid in the development and commercialization of its internal prescription digital therapeutics pipeline, as well as the enhancement of its current platform.

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,” said David Benshoof Klein, Co-Founder and CEO of Click.

Click Therapeutic’s primary goal is to provide software as a prescription therapy for a variety of conditions. The company began with smoking cessation but quickly expanded to include other mental health conditions such as major depressive disorder, insomnia, and schizophrenia.

Its pipeline also includes treatments for a variety of physical conditions, such as overactive bladder, migraines, chronic lower back pain, and obesity.

According to the company, the therapies can be prescribed as a stand-alone product or in conjunction with another drug or therapy.

 In addition to its internal pipeline programs, Click has signed landmark collaboration agreements with Otsuka to develop and commercialize a prescription digital therapeutic for the treatment of Major Depressive Disorder (MDD) and with Boehringer Ingelheim to develop and commercialize a prescription-based digital therapeutic for the treatment of schizophrenia.

With the Series B funding, Click’s Board of Directors will be expanded to include Alex Zisson, Managing Director at H.I.G. BioHealth, and Dr. Uri Geiger, Founder and Managing Partner at Accelmed.

Digital therapeutics hold the promise to change the very paradigm of healthcare,” said Mr. 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 has a history of collaborating with big pharma. Klein has previously discussed why he believes it makes sense for the company to collaborate with pharmaceutical companies such as Boehringer Ingelheim.

Click isn’t the only digital therapeutic on the market. Pear Therapeutics’ reSET, a substance use disorder treatment, became the first software-only therapeutic cleared by the FDA.

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