Click Therapeutics Secures $17 Million Series A Led by Sanofi Ventures to Advance Prescription Digital Therapeutics Pipeline

VCBeat (WeChat ID: vcbeat),On July 23 (U.S. time), startup Click Therapeutics announced the completion of a $17 million financing round, led by Sanofi Ventures.. As a leader in prescription digital therapeutics solutions, Click Therapeutics will leverage this financing to continue advancing its proprietary platform and pipeline of prescription digital therapies to treat a broader range of conditions.

At this point, Click Therapeutics’ total fundraising has reached $25.4 million.

Historical Financing

Click Therapeutics, founded in April 2012 and headquartered in New York, USA, is dedicated to providing patients with digital prescription therapeutic solutions through the development and commercialization of software.

Leveraging cognitive and neurobehavioral mechanisms, Click’s Digital Therapeutics™ can induce internal changes in individuals and are designed to be used either as a standalone treatment or in combination with other biological therapies. The company’s Clickometrics® adaptive data science platform continuously personalizes the user experience to optimize patient engagement and therapeutic outcomes. Following a groundbreaking clinical trial, Click’s industry-leading smoking cessation program has been rolled out nationwide across the United States, providing services to the public.

Clickotine is an application designed to help people quit smoking by digitally deploying cessation strategies, such as teaching controlled breathing exercises; enabling users to log their smoking habits and emotions; sending encouraging messages; and more. The company stated in an email that the app has been adopted by over 30 organizations, including insurance companies.

In addition to Clickotine®, its commercially available product for smoking cessation, the company boasts a robust pipeline of investigational digital prescription therapies, including CT-152 for depression, CT-141 for insomnia, CT-111 for acute coronary syndrome, and CT-130 for chronic pain.

Click Therapeutics partnered with Magellan Health to develop a digital therapeutic product for the treatment of major depressive disorder. In June, multiple publications released reviews of this digital therapeutic. Articles in npj Digital Medicine and the Journal of Affective Disorders reported that research demonstrated the therapy’s ability to alleviate symptoms, its favorable compatibility with transcranial direct current stimulation (tDCS), and its activation of distinct neurobiological mechanisms associated with cognitive control and emotional processing.

Click Therapeutics’ core team includes CEO David Benshoof Klein, CFO Ted Silver, CTO Christopher Jordan, and CCO Joel Sangerman.

CEO David Benshoof Klein is a former advisor to Pfizer, Managing Director at the biotechnology investment firm Opus Point Partners, and co-founder of Klein Sun Gallery; CFO Ted Silver is a former senior healthcare technology analyst at Visium Asset Management; CCO Joel Sangerman previously served as Vice President of Sales at Zillion Health; and CTO Christopher Jordan was formerly an Engineering Manager at Bloomberg LP.

Regarding this financing round, Co-Founder and CEO David Benshoof Klein stated“The Click Therapeutics team is delighted to partner with Sanofi Ventures to advance our pipeline and expand our portfolio of prescription digital therapeutics. As announced last summer, in 2017 we expanded our collaboration with Magellan Health to secure FDA regulatory authorization for prescription digital therapeutics targeting specific indications, leveraging industry-leading intellectual property, data from Magellan’s existing software platform, and their extensive coverage and reimbursement leadership.”

“Sanofi’s entry as a strategic investor, along with the completion of this financing round, marks a significant milestone for Click and the broader digital prescription therapy sector. By connecting patients with cognitive and neurobehavioral interventions, our platform will bring clinically validated digital therapeutic solutions into mainstream healthcare.”

Bernard Davitian, Senior Vice President and Managing Director of Sanofi Ventures, said“We have evaluated many companies in this space, and we believe that Click Therapeutics’ mobile patient engagement platform positions the company to become a leader in the field of prescription digital therapeutics. Click’s platform enables the company to efficiently target multiple indications, and our investment aims to foster collaborations across various therapeutic areas. Sanofi Ventures is delighted to join Click on its journey to establish a new pillar in modern medicine.” Following the completion of the financing round, Davitian also joined Click’s Board of Directors.

In fact, Sanofi has demonstrated strong interest in digital health over the past few years. Although the company has a broad digital strategy, its primary focus remains on two areas: drug discovery and development, and “Drug+,” which is dedicated to improving treatment outcomes by bundling medications with hardware and software solutions.

Sanofi also actively collaborates with startups and technology companies such as Click Therapeutics to integrate their innovations into the company.

Sanofi Ventures is the venture capital arm of Sanofi. Sanofi Ventures invests in early-stage biotechnology and digital health companies, providing Sanofi with strategically significant innovative concepts and transformative new products and technologies. These areas include rare diseases, vaccines, potential therapies for other core business segments of Sanofi, and digital health solutions.