Click Therapeutics raises $30 million in debt to advance commercialization of smoking cessation app Clickotine

Click Ther­a­peu­tics Secures $30M in Growth Cap­i­tal from K2 HealthVen­tures to Expand Oper­a­tions (press release):

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…

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.

News in Context:

• Click Ther­a­peu­tics and Boehringer Ingel­heim part­ner to devel­op and mar­ket a dig­i­tal ther­a­peu­tic to treat schizophrenia
• Sanofi Ven­tures leads $17M invest­ment in Click Therapeutics
• Otsu­ka Phar­ma and Click Ther­a­peu­tics enter part­ner­ship poised to trans­form men­tal healthcare
• 10 neu­rotech­nolo­gies about to trans­form brain enhance­ment and brain health
• Five rea­sons the future of brain enhance­ment is dig­i­tal, per­va­sive and (hope­ful­ly) bright