CAMBRIDGE, Mass. & NEW YORK: Click Therapeutics, Inc. (“Click”), a leader in Digital Therapeutics™ solutions as prescription medical treatments, announces a $17 million financing round led by Sanofi Ventures.
Click will use this financing to continue advancing its proprietary platform and pipeline of prescription digital therapeutics to treat a wide range of diseases. Recent notes were converted to equity as part of the financing.
“We’ve evaluated many companies in this space, and we believe Click Therapeutics’ mobile patient engagement platform positions the company to be a leader in the field of prescription digital therapeutics,” said Bernard Davitian, SVP and Managing Director of Sanofi Ventures, who has joined Click’s Board in conjunction with the financing.
“Click’s platform enables the company to target multiple indications efficiently and effectively, and we have invested with the intent of partnering across a variety of therapeutic areas. Sanofi Ventures is excited to join Click on this journey of building a new pillar of medicine.”
In addition to Clickotine®, Click’s commercial product for smoking cessation, the company is developing prescription digital therapeutics for the treatment of depression (CT-152), insomnia (CT-141), acute coronary syndrome (CT-111), and chronic pain (CT-130).
Click will seek FDA clearance for these programs as class II medical devices with disease-specific treatment claims, to be prescribed by physicians and reimbursed by payers.
“The Click Therapeutics team is proud to partner with Sanofi Ventures to advance our pipeline and expand our product portfolio of prescription medical treatments,” remarked David Benshoof Klein, Co-founder, and CEO of Click.
“As we announced last summer, in 2017 we expanded our collaboration with Magellan Health, Inc. to pursue regulatory clearance from the FDA for indication-specific prescription digital therapies, leveraging the industry-leading suite of intellectual property and data from Magellan’s existing software as well as their vast coverage and reimbursement leadership. The addition of Sanofi as a strategic investor and the closing of this financing represent major steps forward for Click and for the field of software as prescription medical treatments. By connecting patients with cognitive and neurobehavioral interventions, our platform will bring clinically-validated digital therapeutic solutions into mainstream healthcare.”