Click Therapeutics Secures $20 Million Debt Financing from HSBC
NEW YORK – November 06, 2023 – Click Therapeutics, Inc. (“Click”), a leader in Digital Therapeutics™ as prescription medical treatments, today announced that it has closed on a $20 million term loan from HSBC Innovation Banking, a division of HSBC Bank USA, N.A. 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,” said Randall Stanicky, Chief Financial Officer of Click Therapeutics. “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 major 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 migraine 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” said Clark Hayes, Head of Business Development, Healthcare and Life Sciences for HSBC Innovation Banking. “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.”
About Click Therapeutics
Click Therapeutics, Inc., develops, validates, and commercializes software as prescription medical treatments for people with unmet medical needs. As a leading innovator of Digital Therapeutics™, Click delivers accessible, clinically proven, FDA-regulated prescription treatments to the smartphone in your hand. Click’s treatments are defined by a commitment to applying technical and scientific rigor and patient-centric design to the development process. This results in uniquely engaging experiences that achieve compelling clinical outcomes for patients seeking new treatment options. Click Therapeutics continuously expands and refines its platform with novel cognitive, behavioral and neuromodulatory mechanisms of action and advanced data-driven tools such as artificial intelligence and machine learning. The digital therapeutics under development on Click’s platform address diverse areas of therapeutic need, including indications in psychiatry, neurology, oncology, immunology, and cardiometabolic diseases. Consistently named a best place to work, Click fosters an inclusive, diverse workforce of innovators, clinicians, scientists, researchers, designers, technologists, engineers and more, united in a common mission to provide patients everywhere access to safe and effective prescription digital therapeutics. For more information, visit www.clicktherapeutics.com and connect with us on LinkedIn.
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through Wealth and Personal Banking, Commercial Banking, Private Banking, Global Banking, and Markets and Securities Services. It operates Wealth Centers in: California; Washington, D.C.; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC.
For more information, please visit: https://www.us.hsbc.com/