Delix Therapeutics Closes $30M Convertible Note Financing

Delix Therapeutics

Delix Therapeutics, a Boston MA-based neuroscience company developing novel disease-modifying therapeutics for psychiatric and neurological conditions, raised $30M in Convertible Note funding.

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 venture debt partner to sponsor-backed businesses.

The company intends to use the funds to grow its drug development program, pipeline, and platform of novel neuroplasticity-promoting therapeutics known as psychoplastogens; continue to expand its team; and execute on additional strategic opportunities in 2022.

Led by CEO Mark Rus, Delix Therapeutics is advancing psychoplastogens-neuroplasticity-promoting therapeutics—to treat mental health disorders at scale. The company’s compounds are 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 advancing these compounds through preclinical and clinical development to bring patients FDA-approved, take-home medicines that will serve several unmet needs.

In September 2021, the company closed a $70 million Series A financing round to fund the advancement of its two lead candidates through Phase 1 clinical trials, further expand its drug discovery platform, and rapidly grow its team.