Click Therapeutics, a provider of digital therapeutics as prescription medical treatments, secured a $15 million term loan from Silicon Valley Bank and used proceeds from the financing in part to retire its existing term loan facility with K2 HealthVentures. 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,” Randall Stanicky, CFO of Click, said. “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 is driving important advancements in the digital health industry through Click’s Digital Therapeutics technology,” Clark Hayes, managing director of life science and healthcare at Silicon Valley Bank, said. “We’re pleased to expand our relationship with the Click team and support them as they continue to scale and grow.”
