London, 4 October 2018 – Hikma Pharmaceuticals PLC (Hikma) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), (rated Ba1 Moody’s / BB+ S&P, both stable) announces that its venture capital arm, Hikma International Ventures and Development LLC (Exempt) “Hikma Ventures” has participated in a $19 million round of financing for Click Therapeutics alongside Sanofi Ventures, the Cambridge-based venture capital arm of French drugmaker Sanofi (NYSE: SNY) who led the round.
New York-based Click Therapeutics (Click), a leading Software as a Medical Device (SaMD) company, develops mobile apps intended to be prescribed by doctors to treat medical conditions, either on their own or in tandem with drugs or other standard treatments. The six-year-old company is working on software that delivers cognitive and neurobehavioral interventions, aimed at treating depression, insomnia, acute coronary syndrome, and chronic pain. Click plans to seek FDA clearance to market those products as class 2 medical devices with disease-specific treatment claims. The company’s lead experimental product, designed to treat major depressive disorder in adults, is entering a randomized, controlled, phase 3 trial.
Lana Ghanem, Managing Director of Hikma Ventures, said, “The field of digital medicine has been advancing at a significant pace; we are excited to be part of Click’s journey as the use of digital therapies continues to gain momentum. Click Therapeutics’ technology and platform are designed to deliver clinically-proven treatments that demonstrate significant benefits to patients. We are looking forward to working with the team and co-investors to help advance the development of their pipeline of prescription digital treatments and to commercialize their programs.”
“We at Click Therapeutics are excited for Hikma Ventures to join us, alongside Sanofi Ventures and Magellan Health, in bringing digital therapeutics into mainstream healthcare,” commented David Benshoof Klein, Co-founder and CEO of Click. “We continue to see tremendous progress in the field and have made great strides in advancing our own proprietary platform and pipeline. This additional funding will help us to continue to develop and validate our programs across multiple indications.”