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Delix Therapeutics Closes $30 Million Convertible Note Financing, Enters $10 Million Strategic Credit Facility Option In Partnership With Comerica Bank

Jan 10, 2022•over 3 years ago

Amount Raised

$30 Million

Boston

Description

Delix Therapeutics (the "Company"), a neuroscience company developing novel disease-modifying therapeutics for psychiatric and neurological conditions, today announced that it closed over $30 million in a convertible note financing. Primarily led by existing investors, funding was also provided by select new long-term partners. Additionally, Delix has secured a $10 million Strategic Credit Facility in partnership with Comerica Bank's Technology & Life Sciences practice, a leading venture debt partner to sponsor-backed businesses. These funds will enhance Delix's ability to grow its drug development program, pipeline, and platform of novel neuroplasticity-promoting therapeutics known as psychoplastogens; continue to expand its world-class team; and offer the flexibility to execute on additional strategic opportunities in 2022 that support Delix's mission to become a leading neuroscience company.

Company Information

Company

Delix Therapeutics

Location

Boston, Massachusetts, United States

About

Delix Therapeutics is a neuroscience company focused on harnessing the power of psychoplastogens—novel neuroplasticity-promoting therapeutics—to better treat mental health disorders at scale. The company's compounds are easily manufactured small molecules capable of rapidly inducing structural and functional neural changes in targeted areas of the brain. Many of these molecules are inspired by psychedelic compounds and preserve their efficacy-promoting mechanisms while avoiding their hallucinogenic properties and other safety liabilities. Delix is rapidly advancing these compounds through preclinical and clinical development to bring patients FDA-approved, take-home medicines that will serve several unmet needs. Headquartered in Massachusetts, Delix is building a world-class biotechnology company by combining an experienced team with innovative treatment strategies and scientific rigor to address the significant and growing mental health challenges impacting society. www.delixtherapeutics.com

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