By Godson Umejiego, Senior Correspondent USA
A leader in Digital Therapeutics™ as prescription medical treatments, Click Therapeutics, Inc. , has announced that it has secured a US$15 million term loan 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 equity capital and will be used to advance Click’s prescription digital therapeutic pipeline.
“We are pleased to partner with Silicon Valley Bank, a leading lender to companies in the life sciences space. This financing allows us to replace our existing loan facility with improved economic terms, while providing additional capital to fund our pipeline of clinically-validated digital therapeutics,” said Chief Financial Officer of Click, Randall Stanicky,. “On behalf of Click, I would like to thank K2HV for their support during a critical period of growth for our company. We look forward to continuing our partnership with K2HV, as the firm remains an equity investor in Click.”
Click Therapeutics has recently announced the achievement of key clinical and corporate milestones, including updates from multiple early research & development studies across its Click Neurobehavioral Intervention (CNI) Platform™ as well as the formation of a Scientific Advisory Board (SAB) comprised of world-renowned healthcare and technology leaders.
“Click Therapeutics is driving important advancements in the digital health industry through Click’s Digital Therapeutics technology,” said Managing Director of Life Science and Healthcare at Silicon Valley Bank, Clark Hayes. “We’re pleased to expand our relationship with the Click team and support them as they continue to scale and grow.”
