Delix Therapeutics Secures $100M in Series C Funding

Delix Therapeutics, a Boston-based clinical-stage neuroscience company, has raised $100 million in a Series C funding round. The round was led by Johnson & Johnson, through Johnson & Johnson Innovation – JJDC, Inc., and SV Health Investors’ Dementia Discovery Fund (DDF).

Existing investors RA Capital, UC Investments, Artis Ventures, OMX Ventures, Dolby Family Ventures and Bail Capital also participated. New investors included Adage Capital Management, Hamilton Square Partners Management, Vestal Point Capital and YK Bioventures.

The company will use the funding to advance its lead drug candidate, Zalsupindole, through a Phase IIb proof-of-concept study for recurrent major depressive disorder. It will also support the development of its wider neuroplastogen pipeline, including its neurodegeneration programme.

What is Delix Therapeutics?

Founded in 2019, Delix Therapeutics develops medicines designed to promote neuroplasticity, the brain's ability to form and repair connections between nerve cells.

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The company uses its Neuroplastogen Platform to develop small-molecule medicines that aim to improve the structure and function of brain synapses without causing hallucinations or other psychedelic effects.

Its goal is to develop fast-acting treatments for psychiatric and neurological conditions that can be taken outside specialised clinical settings.

Delix's lead candidate, Zalsupindole, is an oral medicine inspired by 5-MeO-DMT, also known as mebufotenin. It is designed to promote changes in brain connections without hallucinatory, dissociative or sedative effects.

How Much Funding Has Delix Therapeutics Raised?

Delix Therapeutics has raised $100 million in its latest Series C funding round.

The company has not disclosed its total funding raised to date or details of its previous funding rounds.

Who Invested in Delix Therapeutics’ Series C?

The $100 million round was led by:

• Johnson & Johnson, through Johnson & Johnson Innovation – JJDC, Inc.
• SV Health Investors’ Dementia Discovery Fund (DDF)

Existing investors included RA Capital, UC Investments, Artis Ventures, OMX Ventures, Dolby Family Ventures and Bail Capital.

New investors included Adage Capital Management, Hamilton Square Partners Management, Vestal Point Capital and YK Bioventures.

Why the Funding Matters

Delix will use the funding to advance Zalsupindole through Phase IIb proof-of-concept testing in patients with recurrent major depressive disorder.

The capital will also support additional drug candidates and the expansion of its neurodegeneration programme, which has shown preclinical efficacy signals.

These developments will help the company continue testing its approach to treating psychiatric and neurological disorders.

Who founded Delix Therapeutics?

Delix Therapeutics was founded in 2019 by David E. Olson. The company is headquartered in Boston, Massachusetts.

Market and Business Growth

Delix has advanced Zalsupindole into clinical development for recurrent major depressive disorder.

In a Phase Ib trial, adults with the condition experienced an approximately 50% mean reduction in Montgomery-Åsberg Depression Rating Scale (MADRS) scores by Day 8. The results were reported for patients receiving either daily or twice-weekly dosing.

The improvements were maintained through Day 36, four weeks after the final dose.

What Happens Next?

Delix plans to advance Zalsupindole through its Phase IIb proof-of-concept study for recurrent major depressive disorder.

It will also continue developing other candidates in its neuroplastogen pipeline and expand its neurodegeneration programme. The company's focus remains on developing fast-acting treatments for patients with psychiatric and neurological disorders.

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