NEW YORK– 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.”