Johnson & Johnson leads $100 million Delix funding round for depression drug development
Large drugmakers are increasing their exposure to psychedelic-inspired treatments as developers try to separate mental health benefits from hallucinogenic side effects. In that context, Johnson & Johnson is leading a $100 million financing round for Delix Therapeutics to help move its lead depression program into mid-stage trials next year.
Highlights
- Johnson & Johnson's venture arm co-led a $100 million oversubscribed funding round in Delix Therapeutics, with participation from SV Health Investors' Dementia Discovery Fund.
- Delix will use the new capital to move its lead experimental depression drug into mid-stage clinical trials in 2025.
- Delix has raised a total of $215 million to date, reflecting surging industry interest in developing non-hallucinogenic, psychedelic-inspired depression treatments.
Funding round supports trial advancement
As reported by Bloomberg, the investment in privately held Delix Therapeutics Inc. comes through Johnson & Johnson's venture capital arm and is part of an oversubscribed financing round co-led by SV Health Investors' Dementia Discovery Fund.The company says the new capital will help advance its lead experimental depression treatment into mid-stage trials next year. Delix declines to disclose its valuation.
Drug industry interest in psychedelic-inspired therapies
The deal highlights growing pharmaceutical interest in a field that was once considered fringe, with companies seeking medicines inspired by psychedelics that could treat depression without causing hallucinations.Delix has previously raised $115 million in earlier rounds, adding to the financial backing behind its effort to develop next-generation neuropsychiatric treatments.
Our earlier report on the surge in cybersecurity funding highlighted how total investment can climb even as the number of deals falls, driven by a handful of larger late-stage rounds. We also noted that AI- and identity-security startups were attracting outsized checks, alongside active consolidation through major acquisitions—signaling strong investor appetite for select, high-conviction bets.
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