Delix Therapeutics closed a $100 million Series C to advance an experimental depression pill designed for home dosing. Johnson & Johnson’s venture arm JJDC and SV Health Investors’ Dementia Discovery Fund led the round, announced November 9.
The Massachusetts biotech develops drugs inspired by psychedelics, aiming to strengthen connections between brain cells without inducing hallucinations. Its lead candidate, zalsupindole, is being developed for adults with major depressive disorder. In October 2025, Delix said the FDA had cleared a Phase 2 trial protocol allowing patients to take it at home.
Spravato, an approved esketamine nasal spray for depression, requires administration in certified healthcare settings and at least two hours of monitoring afterward, according to its FDA medication guide.
Delix’s early efficacy results came from 18 adults in a Phase 1b study. The company reported an average reduction of about 50% in depression-rating scores from baseline after one week, maintained four weeks after the final dose. The study’s primary goal was to measure biomarkers of brain plasticity; antidepressant efficacy was a secondary objective.
The financing is intended to carry zalsupindole through Phase 2b proof of concept and support other drug programs, including potential treatments for neurodegenerative diseases. Delix expects its placebo-controlled depression trial to begin in the first half of 2027.