Click Therapeutics said today that it landed a $17 million round, led by Sanofi‘s (NYSE:SNY) venture arm, to fund its platform of prescription digital therapeutics.
The company’s commercial product, Clickotine, is designed to help people quit smoking. The digital smoking cessation program uses a personalized plan to help people overcome tobacco cravings, adhere to medication regimens and connect with people in a support network.
Click Therapeutics is also working on digital therapeutics for the treatment of depression, acute coronary syndrome, insomnia and chronic pain. The New York-based company plans to submit these products to the FDA as class II medical devices so that the programs can be prescribed by doctors and reimbursed.
“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,” Bernard Davitian, SVP & managing director Sanofi Ventures, said in prepared remarks.
“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,” Davitian added.
“The Click Therapeutics team is proud to partner with Sanofi Ventures to advance our pipeline and expand our product portfolio of prescription medical treatments,” Click Therapeutics co-founder & CEO David Benshoof Klein said. “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.”
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