Delix Therapeutics, a clinical-stage neuroscience company developing neuroplasticity-promoting medicines, has closed an oversubscribed $100 million Series C financing to advance its lead drug candidate, Zalsupindole, into Phase II clinical development. The funding will also support additional programs targeting psychiatric, neurological, and neurodegenerative diseases. The financing was co-led by Johnson & Johnson Innovation – JJDC, the corporate venture capital organization of Johnson & Johnson, and SV Health Investors’ Dementia Discovery Fund.
Existing investors participating in the round 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, among others.
Delix intends to use the proceeds to advance Zalsupindole through a Phase IIb proof-of-concept trial in recurrent major depressive disorder.
The company expects to begin the placebo-controlled Phase II study during the first half of 2027.
Zalsupindole, also known as DLX001, is an orally administered investigational drug designed to promote structural and functional changes in neural connections.
The compound belongs to an emerging class of medicines called neuroplastogens, which are intended to stimulate neuroplasticity and potentially produce rapid, sustained therapeutic effects.
Delix developed Zalsupindole using insights from 5-MeO-DMT, also known as mebufotenin, while engineering the molecule to avoid the hallucinatory and other psychoactive effects associated with traditional psychedelics.
This distinction could be important for developing treatments suitable for outpatient or at-home administration, although the drug’s safety and effectiveness still require further clinical evaluation.
In a Phase Ib study involving adults with recurrent major depressive disorder, participants experienced an approximately 50% mean reduction in Montgomery-Åsberg Depression Rating Scale scores by Day 8.
The improvements were observed following one week of treatment using either daily or twice-weekly dosing.
According to Delix, the improvements were maintained through Day 36, approximately four weeks after the final dose.
The company also reported that Zalsupindole has demonstrated a favorable safety and tolerability profile across more than 120 participants studied to date.
No hallucinatory, dissociative, or psychotomimetic effects were observed using the measures employed in those studies.
These early findings provide the basis for additional clinical development, but larger controlled trials will be needed to determine the treatment’s clinical benefits and risks.
Beyond its lead program, Delix is developing additional neuroplastogens for psychiatric and neurological conditions.
The company plans to expand its neurodegeneration research program following preclinical findings involving neural connections in models of Alzheimer’s and Parkinson’s diseases.
The Series C financing will allow Delix to move additional candidates toward clinical testing while broadening its development pipeline.
The financing also brings new representation to the company’s Board of Directors.
Christian Jung, a partner at SV Health Investors, and a representative of Johnson & Johnson Innovation – JJDC have joined the board.
Their experience in biotechnology investment and neuroscience development is expected to support Delix as it advances its clinical programs.
The $100 million financing provides Delix with additional resources to pursue its strategy of developing non-hallucinogenic medicines inspired by psychedelic compounds.
Its next major milestone will be the planned Phase II trial of Zalsupindole in 2027, which will provide further evidence about the drug’s potential in treating recurrent major depressive disorder.
KEY QUOTES:
“We are proud to welcome our new investors alongside the continued support of our existing shareholders as Delix enters its next stage of growth. The strength and validation of this syndicate reflects the growing conviction and data for neuroplastogens as an important new therapeutic class. This capital enables us to take Zalsupindole through Phase II Proof of Concept, advance a broader pipeline of differentiated medicines, and build Delix for the long term. We are particularly excited to partner with investor teammates who understand what it takes to translate breakthrough neuroscience into medicines that can reach patients at scale. Delix is more well positioned than ever to define the next chapter of true neuroplastogen medicine.”
Mark Rus, CEO Of Delix Therapeutics
“We are thrilled with the addition of these outstanding new Board members. Their combined perspectives add important strategic depth as Delix enters its next stages of clinical and corporate development.”
Nick Haft, Partner At OMX Ventures And Co-Founder Of Delix Therapeutics
“We have been following the psychedelics field, and Delix is the first company we’ve seen to separate the neuroplastic benefits of psychedelics from their hallucinogenic effects. Alongside their encouraging clinical data, we are particularly excited by their ability to increase synaptic density across multiple preclinical models of Alzheimer’s and Parkinson’s disease, something of a holy grail for the field. I look forward to working with Mark, the Delix team and the other investors as they bring this pipeline forward.”
Dr. Christian Jung, Partner At SV Health Investors’ Dementia Discovery Fund
