Click Therapeutics is cutting staff just days after announcing a new funding round and taking over commercial work for its experimental digital therapeutic, CT-155.
The cuts were confirmed to Fierce Medtech after being first reported by Endpoints.
Austin Speier, chief strategy officer at Click Therapeutics, told Fierce Medtech that the company is at a “natural transition point” as it moves from an R&D company to a commercial one. When asked, he did not specify how many employees are being cut.
“While we are incredibly excited about the potential of CT-155, that shift means making hard changes to our team to match our new commercial mission,” he said. “These were not decisions we made lightly, and we are deeply grateful to everyone who helped us reach this stage.”
He added that “this next phase for Click is about making sure we are built for the future and ready to deliver for patients at scale,” and said he expects “to continue building out our team with additional commercial roles to support this shift.”
Just last week, Click and its longtime pharma partner, Boehringer Ingelheim, restructured their marketing deal for CT-155, a software-based schizophrenia treatment the pair has been working on together since 2020.
Under the revised deal, Boehringer Ingelheim is handing over full product responsibility, including commercial and marketing authorization rights, to Click for the treatment. It also made a $50 million series D investment in the company and is providing “dedicated commercial funding to help bring CT-155 to patients.”
The pair released topline data from a phase 3 trial last fall in which it met its primary endpoint.
No mention of the cuts was made in the April 9 release announcing the funding round and deal restructuring.