NEW YORK–(BUSINESS WIRE)–Click Therapeutics, Inc., (“Click”), a leader in Digital Therapeutics™ as prescription medical treatments, today announced that it has secured a $15 term loan million from Silicon Valley Bank. Proceeds from the financing were used in part to retire Click’s existing term loan facility with K2 HealthVentures (K2HV). The remaining proceeds supplement the Company’s current share capital and will be used to advance Click’s digital prescription therapeutic pipeline.
“We are delighted to partner with Silicon Valley Bank, one of the leading lenders to life sciences companies. This funding allows us to replace our existing lending facility with improved economics, while providing additional capital to fund our pipeline of clinically validated digital therapies,” said Randall Stanicky, CFO of Click. “On behalf of Click, I would like to thank K2HV for their support during a critical period of growth for our business. We look forward to continuing our partnership with K2HV as the company remains an equity investor in Click. »
Click Therapeutics recently announced the achievement of key clinical and corporate milestones, including updates from several early research and development studies on its Click Neurobehavioral Intervention (CNI)™ platform as well as the formation of a Scientific Advisory Board (SAB) made up of representatives from around the world. renowned leaders in the field of health and technology.
“Click Therapeutics is driving significant advancements in digital health with Click’s Digital Therapeutics technology,” said Clark Hayes, general manager of life sciences and healthcare at Silicon Valley. Bank. “We are excited to extend our relationship with the Click team and support them in their evolution and growth.”
About Click Therapeutics
Click Therapeutics, Inc. develops and markets software as prescription medical treatments for patients with unmet medical needs. Through cognitive and neurobehavioral mechanisms, Click’s Digital Therapeutics™ enables change in individuals and is designed to be used independently or in conjunction with biomedical treatments. The Clickometrics® adaptive data science platform continuously personalizes the user experience to optimize engagement and results. Following a breakthrough 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 recently entered a pivotal, fully remote, randomized, controlled trial on the Verily platform for the treatment of major depressive disorder (MDD) in up to 540 adults. Click is advancing an extensive pipeline of Digital Therapeutics™ in a variety of high-load therapeutic areas including MDD, schizophrenia, migraine, chronic pain, atopic dermatitis, acute coronary syndrome (ACS), obesity and Moreover. For more information about Click, visit ClickTherapeutics.com.
About Silicon Valley Bank
Silicon Valley Bank (SVB) helps innovative companies and investors advance bold ideas, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps meet the unique needs of innovators. Learn more at svb.com.