Key Takeaways
- • Johnson & Johnson, through its venture capital arm, is leading a $100 million financing round in privately held Delix Therapeutics Inc., per Bloomberg.
- • Delix is developing psychedelic-inspired medicines designed to treat depression without hallucinations.
- • The oversubscribed round is co-led by SV Health Investors' Dementia Discovery Fund.
- • The new capital will fund advancement of Delix's lead experimental depression treatment into mid-stage trials next year, according to the company.
- • Delix has raised $115 million in earlier rounds and declined to disclose its valuation.
Summary
Johnson & Johnson is backing Delix Therapeutics Inc., a privately held biotechnology company developing psychedelic-inspired medicines that aim to treat depression without the hallucinations associated with classic psychedelics, according to Bloomberg. J&J is leading the $100 million financing round through its venture capital arm, and the round was oversubscribed. SV Health Investors' Dementia Discovery Fund is co-leading the round.
The investment reflects growing interest from pharmaceutical companies in a field that was long considered fringe. Delix said the proceeds will help advance its lead experimental depression treatment into mid-stage trials next year. The company has previously raised $115 million across earlier funding rounds.
Delix declined to disclose its valuation, so the terms of the current round beyond the total size and lead investors remain unreported.
The investment reflects growing interest from pharmaceutical companies in a field that was long considered fringe. Delix said the proceeds will help advance its lead experimental depression treatment into mid-stage trials next year. The company has previously raised $115 million across earlier funding rounds.
Delix declined to disclose its valuation, so the terms of the current round beyond the total size and lead investors remain unreported.
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