Click Therapeutics, a provider of digital therapeutics as prescription medical treatments, closed on a $20 million term loan from HSBC Innovation Banking, a division of HSBC Bank USA. The term loan was partially drawn at closing, with the proceeds used to retire Click’s previous term loan. The undrawn balance remains fully available to help advance Click’s prescription digital therapeutic pipeline.
“The last few years have been a period of tremendous growth for Click, and we could not be more excited to partner with HSBC Innovation Banking, a leader in the innovation economy,” Randall Stanicky, CFO of Click Therapeutics, said. “We are pleased with the financial terms, which we believe reflect Click’s leadership in the industry and the progress we have made towards profitability. This capital will help us continue to fund important investments in our platform and pipeline.”
Click Therapeutics has announced four co-development and commercialization collaborations to date for the treatment of major depressive disorder (MDD), schizophrenia and substance use disorders. Click is also progressing its lead internal program for the preventive treatment of migraines, with pivotal data expected in 2024.
“This is an exciting opportunity for HSBC Innovation Banking to partner with a truly innovative company in the digital therapeutic space,” Clark Hayes, head of business development for healthcare and life sciences for HSBC Innovation Banking, said. “As Randall and his team look to grow their business, HSBC’s innovation network, combined with our size, strength and international footprint, creates endless opportunity for Click at every phase of its growth.”
