Click Therapeutics Completes $52 Million Series B Financing Co-Led by H.I.G. BioHealth Partners and Accelmed Partners
NEW YORK--(BUSINESS WIRE)-- Click Therapeutics, Inc.. (“Click”), a leader in Digital Therapeutics™ as prescription medical treatments, today announced that it has closed a $52 million upsized Series B financing. The financing round was co-led by new investors H.I.G. BioHealth Partners (“H.I.G. BioHealth”) and Accelmed Partners II (“Accelmed”), with participation from Health Catalyst Capital, Revelation Partners, and a top biotechnology hedge fund, and from existing investors Sanofi Ventures, K2 HealthVentures, Hikma Ventures, and Ridgetop Health. Proceeds from the Series B financing will be used to accelerate the development and commercialization 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 commercialize a prescription digital therapeutic for treatment of Major Depressive Disorder (MDD), and with Boehringer Ingelheim to develop and commercialize 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,” said 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 H.I.G. BioHealth, and Dr. Uri Geiger, Founder and Managing Partner of 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 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,” commented Dr. 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.”
About Click Therapeutics
Click Therapeutics, Inc. develops and commercializes software as prescription medical treatments for patients 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’s lead prescription program has recently entered a pivotal, fully remote, randomized, controlled trial on the Verily platform for the treatment of Major Depressive Disorder in up to 540 adults. For more information on Click, visit ClickTherapeutics.com.
About H.I.G. BioHealth Partners
H.I.G. BioHealth Partners is the dedicated life-science investment affiliate of H.I.G. Capital. H.I.G. BioHealth Partners invests in a broad range of healthcare opportunities across sectors and stages, principally in companies developing therapeutic drugs, medical devices, and diagnostics for significant unmet medical needs. With approximately $400 million in committed capital, H.I.G. BioHealth Partners invests $5 million to $40 million per company over the life of an investment. For more information, please refer to the H.I.G. BioHealth Partners website at www.higbio.com.
About Accelmed Partners
Accelmed is a U.S.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies. Since 2009, Accelmed has deployed over $400 million into companies spanning medical devices, diagnostics, digital health and technology-enabled healthcare services. Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team’s industry experience, operational and financial expertise, and strong global relationships. For more information, please visit www.accelmed.com.
Source: Click Therapeutics, Inc.