Delix Therapeutics Raises $100 Million for Phase II Depression Drug

By Daniel Okafor

Delix Therapeutics closed an oversubscribed $100 million Series C financing to advance Zalsupindole into Phase II development for recurrent major depressive disorder. The clinical-stage neuroscience company develops neuroplasticity-promoting medicines and will also fund programs targeting psychiatric, neurological and neurodegenerative diseases.

Delix expects to start a placebo-controlled Phase IIb proof-of-concept study in the first half of 2027. Its lead candidate, Zalsupindole, also known as DLX001, is an oral investigational drug designed to promote structural and functional changes in neural connections.

What does the $100 million financing support?

Johnson & Johnson Innovation – JJDC and SV Health Investors’ Dementia Discovery Fund co-led the round, Delix said. Delix described JJDC as the corporate venture capital organization of Johnson & Johnson.

Delix identified these existing investors:

• RA Capital
• UC Investments
• Artis Ventures
• OMX Ventures
• Dolby Family Ventures
• Bail Capital

Delix named these new investors, among others:

• Adage Capital Management
• Hamilton Square Partners Management
• Vestal Point Capital
• YK Bioventures

Mark Rus, CEO of Delix Therapeutics, said:

“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.”

What did the Phase Ib study show?

Delix reported an approximately 50% mean reduction in Montgomery-Åsberg Depression Rating Scale scores by Day 8 in a Phase Ib study of adults with recurrent major depressive disorder. The improvement followed one week of treatment using either daily or twice-weekly dosing.

According to Delix, those improvements were maintained through Day 36, approximately four weeks after the final dose. The company also reported favorable safety and tolerability across more than 120 participants studied to date.

Delix said the studies observed no hallucinatory, dissociative or psychotomimetic effects under the measures used. The company said the early findings support further clinical development, while larger controlled trials will be needed to determine the treatment’s clinical benefits and risks.

How is Zalsupindole different from psychedelics?

Delix developed Zalsupindole using insights from 5-MeO-DMT, also known as mebufotenin. The company engineered the molecule to avoid the hallucinatory and other psychoactive effects associated with traditional psychedelics.

Delix places Zalsupindole in an emerging class of medicines called neuroplastogens. The company says these medicines are intended to stimulate neuroplasticity and potentially produce rapid, sustained therapeutic effects.

That distinction could support development of treatments suitable for outpatient or at-home administration, Delix said. Safety and effectiveness still require further clinical evaluation.

The Series C also supports Delix’s strategy of developing non-hallucinogenic medicines inspired by psychedelic compounds and provides resources to advance a broader pipeline of differentiated medicines for psychiatric and neurological conditions.

What expands beyond the lead program?

Delix will use the proceeds to move additional candidates toward clinical testing and broaden its development pipeline. Delix is developing additional neuroplastogens for psychiatric and neurological conditions.

The company plans to expand its neurodegeneration research program after preclinical findings involving neural connections in models of Alzheimer’s and Parkinson’s diseases, according to Delix Therapeutics.

Delix also added two members to its Board of Directors:

• Christian Jung, a partner at SV Health Investors’ Dementia Discovery Fund
• A representative of Johnson & Johnson Innovation – JJDC

Delix expects their experience in biotechnology investment and neuroscience development to support the company’s clinical programs.

Nick Haft, Partner at OMX Ventures and Co-Founder of Delix Therapeutics, said:

“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.”

Dr. Christian Jung, Partner at SV Health Investors’ Dementia Discovery Fund, said:

“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.”

What happens next?

Delix expects to begin the placebo-controlled Phase II study in the first half of 2027. The company said the planned trial will provide further evidence about Zalsupindole’s potential in recurrent major depressive disorder.

The first-half 2027 study is the next concrete test for Delix’s strategy. It will test whether the early Phase Ib depression signal holds in a larger controlled trial, while the Series C gives the company room to advance other neuroplastogens.